- JasmyCoin posts 14% surge, forming bullish trend with higher highs and lows
- RSI signals overbought zone as JASMY nears key resistance at $0.0175 level
- Short liquidations outweigh longs, reinforcing bullish momentum in JASMY market
JasmyCoin (JASMY) is showing renewed strength in the cryptocurrency market as it posts impressive gains. The token surged over 14% in the past 24 hours, climbing to $0.01733.
Backed by a sharp rise in trading volume and increasing market participation, JASMY is drawing attention from both retail and institutional investors. Its recent upward trajectory has formed a consistent pattern of higher highs and higher lows, signaling a solid bullish trend. With its market cap now at $856.97 million, up nearly 15%, JasmyCoin is entering a decisive phase as it nears critical resistance levels.
Support Levels Hold as Bulls Push Forward
JasmyCoin’s recent rally is built on a strong technical foundation. Key support levels at $0.0160 and $0.0150 have held firm, allowing the price to consolidate before each leg higher.
The $0.0145 mark, which marked the intraday low, acted as a springboard for the latest breakout. These zones could offer buying opportunities if the price retraces, especially if traders begin locking in profits.
Moreover, increased volume up 167% confirms that the current rally is not just speculative but supported by real market interest. If price pulls back, the $0.0165–$0.0170 zone could serve as a healthy retest area before another push upward.
Resistance Zones Ahead: $0.0175 and Beyond
Despite the bullish momentum, JASMY faces significant resistance at $0.0175. The price briefly touched this level but was met with some selling pressure. A clean breakout above this point, especially if supported by volume, could open the path to $0.0180 and possibly $0.0190 in the near term.
Technical indicators also reveal an increasingly overbought condition. The RSI currently reads 73.31, suggesting the token is entering overheated territory. Historically, readings above 70 have led to temporary pullbacks. Traders should watch for signs of consolidation or minor dips before a potential continuation.
Liquidation Data Offers Insight into Market Sentiment
In the derivatives market, total liquidations for JASMY reached $125.8k over the past 24 hours. Notably, $52.5k came from long positions while $73.2k were from shorts. This distribution suggests traders are actively adjusting to the volatility. Bybit and Binance recorded nearly equal volumes of liquidations, while Bitfinex saw minimal activity.
This data hints at a balanced tug-of-war between bulls and bears. However, the larger liquidation of short positions aligns with the upward price action, reinforcing the bullish outlook.
Disclaimer : The content shared by The Daily Crypto Post is intended for informational and educational purposes only and does not constitute financial or investment advice. Readers are encouraged to do their own research or consult with a licensed professional before making any financial decisions. The Daily Crypto Post will not be accountable for any financial losses.
