JasmyCoin (JASMY) broke above the $0.03 mark lately, a key resistance level. This move brings it closer to its yearly high of approximately $0.04, set in June. The question now is whether this rally will continue, with several indicators suggesting potential further gains.

The recent price trend for JASMY shows a strong upward movement. Breaking above $0.03, indicated by a red horizontal line at $0.030164 on the daily price chart from TradingView, suggests bullish momentum. The price is approaching its yearly high, with upward moves in recent candles.

The Bollinger Bands were narrowing in May, indicating reduced volatility. However, they have been expanding recently, suggesting surging volatility as the price rises. This expansion often signals strong buying or selling pressure, which in this case appears to be bullish.

The chart features a 100-day EMA shown in orange. The price recently broke above this EMA, a bullish indicator. Since February, the trend has been generally bullish, with the price staying above the EMA for the most part until a brief dip below it in June.

Volume analysis shows a spike in buying volume in early April, which correlated with a sharp price increase. The volume levels are moderate compared to the yearly high, indicating less aggressive trading activity. Despite this, the price rise suggests ongoing bullish sentiment among traders.

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The MACD line crosses the signal line, indicating a bullish crossover in the Moving Average Convergence Divergence indicator near the end of June. The MACD is crossing into positive zone, indicating possible bullish momentum.

The Relative Strength Index is around 56.09, indicating a neutral zone. The current RSI suggests there is neither significant overbuying nor overselling, indicating room for upward movement without immediate concerns of overbought conditions.

JasmyCoin at press time,  trades at $0.03017 with its trading volume of $155,168,428. This is a 2.64% price rise in the last day and a 24.43% increase in the past week.

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As previously reported by Captain Altcoin, a Fibonacci retracement from the high point on June 7 to the low point on July 5 shows JasmyCoin testing the 0.5 Fibonacci level at $0.029. This level previously provided support, making it a significant area to watch.

On the weekly timeframe, JasmyCoin is potentially forming a larger cup and handle pattern. The neckline of this pattern is approximately $0.45. A successful weekly close above this level could validate the pattern, targeting a price of around $0.62 by 2025. This would represent a nearly 2,000% increase from the current price, highlighting potential upside.

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The post JasmyCoin Breaks Crucial Resistance, But Will the JASMY Price Rally Continue? appeared first on CaptainAltcoin.

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