- JasmyCoin has fallen below an important level which could lead to more losses unless buyers step in soon.
- If it moves back above resistance then a strong rally may happen but failure to hold support could mean a deeper fall.
- The next few weeks are crucial because a recovery could shift momentum while more weakness could confirm a downtrend.
JasmyCoin (JASMY) has broken below the Ichimoku cloud on the weekly timeframe, a move that typically signals increased bearish pressure. The current price sits at $0.021931, marking a 3.62% decline, as sellers maintain control. The break below key support raises concerns about whether this is a temporary deviation or the start of a larger downtrend.
The Fibonacci retracement levels indicate that the $0.038199 (0.382 Fib level) remains a crucial resistance, while the next significant support is near $0.002731 at the 0 Fibonacci level.
Key Support and Resistance Levels Define JASMY’s Path
JasmyCoin is now trading below the cloud, suggesting continued weakness unless it reclaims critical levels. The Ichimoku cloud structure hints at potential resistance around $0.038199, a zone that aligns with the 0.382 Fibonacci level. If JASMY can break back above this area, it could re-enter bullish territory, targeting $0.194894 (0.618 Fib level) as a medium-term upside goal.
On the downside, losing the $0.021931 price point could bring further selling pressure, with lower Fibonacci retracement levels exposing JASMY to a possible retest of $0.002731. The yellow trendline in the chart marks a long-term support structure, but if breached, a more significant price drop could follow.
Elliott Wave Projection and Market Outlook
A bullish perspective suggests that JASMY could be forming a subwave 2 within a larger wave 3, indicating a corrective move before another rally. If this is true, the current pullback could be a setup for a future price surge. However, sustained selling pressure, as noted in social discussions, adds risk to this scenario.
For JASMY to re-enter a bullish trend, buyers must step in near the $0.021931 level to prevent further downside. A recovery above the Ichimoku cloud could trigger renewed optimism, while failure to do so may confirm further bearish sentiment, forcing traders to look at lower support zones.
What’s Next for JasmyCoin? A Critical Moment for Bulls and Bears
JasmyCoin is at a make-or-break moment, where price action in the coming weeks will determine its long-term trend. If the Ichimoku breakdown is a false signal, a rebound towards $0.038199 is likely. However, continued weakness could drag JASMY below critical support levels, reinforcing bearish dominance.
Traders should closely monitor price action around the cloud and Fibonacci retracement levels, as these will dictate the next significant move. The coming weeks will be crucial in defining whether JASMY rebounds or enters a prolonged downtrend.
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