- JasmyCoin’s “cup and handle” formation signals potential for major price increases.
- Key resistance levels of JasmyCoin to watch include $0.09, $0.18, and $0.31.
- A 700% growth projection depends on sustained bullish momentum and market stability.
One of the cryptocurrencies currently in the limelight is JasmyCoin (Jasmy/USDT) for its possible bullish run. A chart analysis we conducted points to a probable rise in value in the coming months for the commodity. A forecasting based on the indicators reveals the scenario which will result in steep flaps in prices: key targets are set at $0.09, $0.18, and $0.31. If this prediction comes through, the token might be set to achieve a growth of about 700% in four months.
Current Market Context
The trend analysis of JasmyCoin in the last few years depicts a bearish phase after which a phase of accumulation occurs. Indeed, this is a typical behavior in the markets, and consistently observed before a potential breakout of the Bollinger Bands. Recently, the price bar of the commodity crossed a statistically identified resistance level, something which is considered as bullish by analysts.
Based on the long-term chart, it is visible that they form a pattern known among traders as a “cup and handle”. This setup is well supported by the rising volume of the asset that shows trading activity has picked up and is creating interest again.
Critical Price Points and Hazards to Monitor
Based on the analysis, three critical targets have been identified: $0.09, $0.18, and $0.31.
$0.09: This level was taken to be the primary resistance point and detecting it would mean that the breakout had been achieved. It is still regarded as one of the major psychological achievements of traders.
$0.18: The move to this level will indicate consistent bullish pressure as it represents a strong rebound from the token’s low prices.
$0.31: It may be noted that this target is expected and consistent with historical levels of resistance while also staying on the trajectory of the pattern given the positive sentiment currently dominating the marketplace.
Despite such a positive outlook emerging from the analysis done, the use of cryptocurrency for investing comes with risks because of volatility. Traders should also be aware of such conditions as adjustments to the basic price quotations and effects of such factors as changes in the legislation in the foreign states.
