- JASMY faces resistance at $0.032 after recent bearish trends and Bitcoin’s drop.
- Slight volume increase and higher buying pressure hint at potential accumulation by investors.
- Weak speculative activity raises doubts about a sustained rally despite mild bullish signals.
JasmyCoin—JASMY, has experienced a tough start to the year, losing 18.66% of value since December. Despite this decline, signs of accumulation suggest hope for a potential recovery. Bulls have shown some activity, but resistance levels remain unbroken. With trading volume increasing slightly and buying pressure rising, JasmyCoin may yet stage a comeback.
Resistance Levels and Buying Pressure
The daily chart shows JasmyCoin struggling to break free from a bearish market structure. Price action formed a range between $0.032 and $0.04 in December. However, Bitcoin’s sharp decline in January dragged JASMY below $0.032, creating a new resistance level. Last week, the price rallied from $0.03, showing some strength. Trading volume also increased slightly during this rally.
If this volume continues to grow, momentum may shift in favor of the bulls. The 20-DMA recently crossed below the 50-DMA, confirming a bearish trend. Despite this, the A/D indicator suggests higher buying pressure, signaling quiet accumulation by some investors. These signs offer cautious optimism for those hoping for a reversal.
Hesitation in Speculative Markets
Over the past 48 hours, JasmyCoin’s price rose by 12%, yet JASMY’s Open Interest increased by only 3.4%. This weak response from speculators suggests hesitation in the market. Without strong speculative support, sustaining the rally becomes more challenging.
Some positive signs have emerged. Funding rates remain favorable, and spot CVD has climbed over the last 24 hours. These factors suggest mild bullish activity but lack the strength to drive a breakout. For JasmyCoin to overcome resistance, bulls need sustained volume and broader market support.
Without these elements, the recovery may falter. The next few days will be critical for determining whether JasmyCoin can reverse its fortunes or remain stuck below key resistance levels.
The post New Crossover Highlights JASMY’s Struggle to Break Key Resistance appeared first on Cryptonewsland.
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