JasmyCoin recovers by double digits in a week
Token hits downtrend line
JASMY May Correct to Match Long-Term Bearish Momentum
JasmyCoin (JASMY/USD) saw an increase in trading volume on Friday amid a mixed market. Cryptocurrency transaction. Ranked 543 on CoinMarketCap, the token witnessed a 13% surge in the past week. The weekly rally has brought the bulls to a critical level that will determine whether investors will rise further.
JASMY is the native token of Jasmy Corporation, based in Tokyo, the Internet of Things. The company connects users with service providers, enabling them to buy and sell data. From a decentralization perspective, the Jasmy platform allows users to have complete control over their personal information. This is made possible by enabling his IoT through blockchain technology. In short, Jasmy aims to provide a platform that allows users to move data freely, easily and securely.
JASMY has confirmed that 2021 has seen an increase in interest in the height of the cryptocurrency boom. It has since crashed and is trading at just $0.004. The price is at a significantly lower price level compared to his November 2021 high of $0.35. With new profits, how far can this token go?
JASMY meets resistance at downtrend line
The technical outlook shows that JASMY has met resistance at the downtrend line and the 50-day moving average. Since August, JASMY has been consistently rejected at the downtrend line. The bulls are under bearish pressure as he attempts to break out of the 50-day moving average.
The MACD indicator shows that JASMY’s momentum is improving. Nevertheless, we can see that the token is constantly correcting every time the MACD approaches the neutral level since August.
What’s next for JASMY?
Despite weekly recovery, JasmyCoin has bearish momentum.To buy cryptocurrencywait for the price to cross the downtrend line or the 50-day moving average line.
A repeat of the cryptocurrency’s past price action could invalidate bullish expectations. Bulls should hold off for now until crypto sentiment improves.
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