JASMYUSDT Buyers Defend the $0.02000 Support Line

The JASMYUSDT market has witnessed a consistent price decline for about nineteen sessions. Nevertheless, it can be seen that the market has made an impressive recovery from its all-time low of $0.008373 in 2021. Considering the long-term market trend, it should be noted that it has been making higher supports.

Jasmy Statistics:
Current JASMY Value: $0.02246
Jasmy Market Cap: $1,129,761,341
JASMY Circulating Supply: 49,299,999,677
Jasmy Total Supply: 50,000,000,000
JASMY CoinMarketCap Rank: 61

Key Price Levels:
Resistance: $0.02500, $0.03000, and $0.03500
Support: $0.02000, $0.01500, and $0.01000

Jasmy Market Builds on Previous Positive Contractions

As soon as price action tested the support at the $0.02000 mark in the JASMYUSDT daily market, an upside contraction occurred in the session. Subsequently, the following session (today’s session) continued the upside move as the corresponding price candle appeared green and pushed the market forward.

Nevertheless, trading remains below the 20, 50, and 100-day Exponential Moving Average (EMA) lines. Meanwhile, the Stochastic Relative Strength Index (SRSI) indicator has delivered a bullish crossover in the oversold region, and its resulting lines have an upward trajectory.

Price Activity in the JASMYUSDT Market May Have Come Under Pressure

The JASMY market can be seen to have fallen below all the EMA lines in the 4-hour market timeframe. However, the market is retracing its steps back upwards. By observing the corresponding price candle for the current session, one can see that it has a tiny body closer to the upper shadow.

Also, it hasn’t moved the market further past the level seen in the previous session, indicating that downward forces are in action. The fact that the market now lies below all the EMA lines poses a significant threat to further price increases in this market. Additionally, the SRSI indicator seems hyper-extended, hinting that upside forces are weakening. At this point, traders may want to use crypto signals that accommodate a minimal correction towards the $0.02200 level while targeting the $0.02500 level.

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