Crypto analyst Javon Marks highlighted on Saturday, January 24, that JasmyCoin (JASMY) is holding above a key technical breakout level, a price structure that has historically preceded extended rallies for the token.
The analysis, shared on X during weekend trading, has drawn renewed attention from traders watching for confirmation in the broader altcoin market.
As of Saturday, JASMY is consolidating above former resistance after a sharp rally earlier this month, signaling sustained buying interest rather than a short-lived price spike. According to CoinMarketCap data, JasmyCoin is trading near $0.0073, with reduced volatility following its recent pullback.
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Marks noted that JasmyCoin has previously formed a nearly identical consolidation and breakout structure during earlier market cycles. In those instances, once resistance was decisively cleared and flipped into support, the token went on to post substantial gains over the following months.
Historical price data shows that earlier breakouts resulted in rallies ranging between 14x and 19x from the initial breakout zone. While those moves occurred under different market conditions, the structural similarity has become a focal point for technical traders monitoring JASMY’s current setup.
What sets current price action apart, however, is that JasmyCoin has managed to hold above the breakout point, unlike what normally happens when there is a retracement back down.
Technically speaking, this current phase can be considered a confirmation phase, indicating that buyers are still in control, as opposed to a situation where there would be a premature selling of the asset.
Generally, the consolidation above resistance levels has been interpreted by traders as an indication that the token may form the basis for further advances in the future.
However, the patterns that have been established in the token’s price movements over time do not necessarily mean that the future will be the same under the prevailing uncertain conditions and changes in the levels of liquidity.
The TradingView data provided on Saturday, January 24, indicates that the 4-hour chart for JASMY has been on an upward trend, as seen from its sharp rise during the initial part of the month, followed by its rounded top and controlled decline.
Following its rounded top and controlled decline from its high around the $0.009 to $0.010 range, the token has been making lower highs and lower lows to settle around its $0.0072 to $0.0074.
The momentum indicators continue to be mixed but are showing signs of stabilizing. The MACD is still negative as it continues to show weaker momentum within the token’s markets as a whole. The histogram is starting to turn positive as the lines are beginning to curve up.
The RSI is back up into the high 40s after falling into oversold status and is showing signs of selling pressure abating as it awaits confirmation of its direction.
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