Jasmycoin has become the best winner of today, recording a price increase of 4% in the last 24 hours. This wave occurs after a clear drop earlier this week when Altcoin plunged to a 12 -month hollow on Monday.
While the sudden push has aroused concerns that it could be a “temporary cat rebound”, the chain and technical indicators suggest that the rally is probably supported by a new authentic request from Jasmy.
Jasmy shows a sustained force
A dead cat rebound occurs when the downward price of an asset is temporarily recovered before regaining its downward trend. It is generally motivated by the optimism of the short-term market but lack of high underlying demand.
This is not the case for Jasmy, whose technical and on -chain indicators reflect a resurgence of the new request for Altcoin. For example, its escalation on the volume of balance (OBV) underlines.
To date, this indicator, which measures the cumulative volume flow of an asset, is in a trend at 177.36 billion dollars. For the context, since Jasmy fell to a minimum of $ 0.0082 on Monday, his ROV joined 2%, indicating an increase in the new demand for Altcoin.
In addition, Jasmy is now negotiated above the points of his parabolic arrest and reverse indicator (SAR), confirming the bullish change in the momentum of the market.
This indicator measures the price trends of an asset and identifies the potential input and output points. When the price of an asset is negotiated above the SAR, it indicates an upward trend. He suggests that the market is in a bullish phase, with the potential for an additional price increase.
Can Jasmy buyers hold the line?
At the time of the press, Jasmy is negotiated at $ 0.010. It remains below the main resistance formed at $ 0.012. If the purchase of pressure is strengthened, the Altcoin could switch this price area in a support floor.
If it has succeeded, it could propel Jasmy’s value to $ 0.017.
However, this bullish projection will be invalidated if taking advantage is a return. In this scenario, the Jasmy Prize could review its 12 -month hollow of $ 0.0082.
Non-liability clause
In accordance with the Trust project guidelines, this price analysis article is for information purposes only and should not be considered as financial or investment advice. Beincrypto is committed to exact and impartial reports, but market conditions are likely to change without notice. Always carry out your own research and consult a professional before making financial decisions. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
