- JASMY ($0.01) has breached a month-long consolidation channel and could rally as high as $0.05.
- Weekly profit-taking could slow the price rally; however, technical indicators show a possibility for a higher move.
In the past 24 hours, JasmyCoin [JASMY] has seen a massive price rally, gaining 26%, with its volume reaching $525.23 million—a 440% increase. The coin was trading at $0.034, at press time.
According to AMBCrypto’s analysis, there’s room for more growth in the market; however, certain hindrances could delay JASMY’s potential rally.
Can the upward move be maintained?
JASMY recently broke out of a descending channel formed by lower highs and lows within defined support and resistance. Such breakouts typically indicate a rally move.
This channel had been forming since the 4th of December 2024, suggesting likely accumulation of JASMY at a lower level.
Currently, it is retesting the resistance level of this channel. If this level flips to support, JASMY could rally 84.79% to $0.059, last reached on the 5th of December 2024.
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