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JasmyCoin price could be heading toward a big move soon. After taking a hit, the coin has been trying to bounce back, but it’s still stuck in a corrective phase. According to veteran trader Matthew Dixon, things might not be as bullish as they seem just yet.

However, Dixon pointed out on X that while JASMY is showing some signs of recovery, the current rally doesn’t tick all the boxes. Specifically, he said we haven’t seen a full five-wave move to the upside, which he considers a key sign before any buying opportunity. In other words, the coin might still have more room to fall unless something changes soon.

JASMY recent price movement follows a completed five-wave Elliott decline, with the final leg bottoming near $0.0127. After this move, the asset entered an A-B-C corrective bounce, pushing prices near resistance at $0.0139–$0.0142. 

This resistance aligns with multiple Fibonacci retracement levels, including 0.618, 0.5, and 0.382, which have so far capped any upward continuation.

A dotted descending trendline from historical highs continues to limit bullish attempts. The JASMY price trades below this line, reinforcing downward pressure. The support zone around $0.0127–$0.0130 remains key, having held during previous reactions and wave structures. A break below this area may trigger further losses.

Moreover, the RSI has moved up from oversold territory and now sits around 54. This indicates some recovery, but it’s not strong enough to suggest a complete trend change. We’re not seeing a clear bullish breakout or any divergence patterns, so the price might just be pausing before potentially declining further.RetryClaude can make mistakes. Please double-check responses.

On top of that, trading volume and momentum are still pretty quiet. There’s been no strong move above the red resistance zone, and we haven’t seen the full five-wave bullish setup play out either. All of these points to the current rally may be running out of steam.

Read Also: XRP Price Prediction for Today (June 15): Will Range-Bound Action Continue or Signal a Breakout?

Right now, everything comes down to whether JASMY can push above the $0.0142 level, and do it while forming a solid five-wave uptrend. If this doesn’t work out and JASMY breaks below the $0.0127 support, the price could slide down to somewhere between $0.0120 and $0.0124.

Analysts are watching how the JASMY price moves around these key levels. A solid breakout could shift market sentiment, but right now, the technical picture points to more downside potential. There isn’t enough momentum yet to signal a real trend reversal.

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The post Veteran Analyst Predicts More Downside for JasmyCoin (JASMY) Price Unless This Happens Soon appeared first on CaptainAltcoin.

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