Over the past 24 hours, Jasmycoin (JASMY ($0.01)) has notably recovered from a local low near $0.0184, bouncing back to the $0.0191 region. This upward movement follows a period of sideways trading and slight declines, signalling that buyers have begun to accumulate at lower levels. The relative strength index (RSI) divergence indicator shows a value of 12.78, indicating mildly bullish momentum as the market works its way out of oversold conditions. This shift could mark the beginning of a broader trend reversal for Jasmycoin.

EMA Signals a Possible Bullish Crossover

One of the most crucial technical indicators in this recovery is the exponential moving average (EMA). The 20-period EMA (red line) is converging on the 50-period EMA (orange line), with prices currently trading above both levels. This suggests that bullish momentum is gaining strength. Although the 200-period EMA (blue line) still hovers above at $0.0194, the current price action indicates that a bullish crossover between shorter-term EMAs could occur soon. If prices break above this level, Jasmycoin may gain further upward traction.

^{Source: TradingView}

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RSI Divergence: Strengthening Momentum

The RSI divergence indicator shows a positive reading, signifying that the recent price decline lacked strong bearish conviction. This is supported by the fact that Jasmycoin found solid support at $0.0184 and has now established higher lows, moving toward higher highs. Such behaviour is often a precursor to a larger trend reversal, especially when backed by bullish momentum.

Key Levels to Watch

Immediate resistance lies at the 200-period EMA around $0.0194. A break and sustained close above this level could propel Jasmycoin toward $0.0200, a psychological barrier. On the downside, key support remains at $0.0184. If bears regain control, any breach below this support could lead to a retest of the $0.0178 region.

Jasmycoin’s 24-hour price action indicates a potential bullish trend reversal. Buyers are re-entering the market, and if bullish momentum holds, we could see Jasmycoin test higher resistance levels in the short term.

The post 24 Hours Price Analysis: Jasmycoin (JASMY) Begins Rebound as Buyers Enter Around Key Support Levels at $0.0178 Region appeared first on FXcrypto News.