JasmyCoin (JASMY) is experiencing notable bearish pressure as investor confidence in the crypto sector is gradually decreasing. The asset’s price over the last 24 hours has plummeted by 7%. This follows the 19.86% downfall that the asset experienced during the past week.
At the time of writing, AVAX is trading at $0.01203 with a 24-hour trading volume of $38.84 million, up by 21.78% over the past 24 hours. The token has a market capitalization of $596.35 million, which has dropped by 7.01%.
Source: CoinMarketCap
The crypto analyst, Team LAMBO, highlighted that JasmyCoin is holding firm at its crucial $0.012 support, a level traders see as the last line before deeper losses. If buyers continue defending this zone, analysts believe a sharp rebound could follow. The immediate target sits near $0.06, signaling a potential 5x move from current prices.
Source: X
Beyond this short-term rally, investors are watching for what some call the biggest breakout yet in the asset’s history. A successful move to $0.06 could set the stage for further momentum, fueled by its role in Japan’s push for data democratization. For now, the $0.012 level is the battleground to watch.
Also Read: JasmyCoin (JASMY) Shapes Inverse Head & Shoulders With $3+ Projection
The RSI (14) is at 41.44 and is accordingly below the neutral 50 level and registering bearish momentum. That being said, it is not yet oversold and therefore has room to decline if selling continues. It registers weak buying power and little support at current levels.
Source: TradingView
The MACD (12,26) shows that the signal line is slightly above the MACD line, both in negative territory. The histogram is neutral, which implies that there’s no strong momentum in either direction. This setup implies that the market continues to stay under bearish pressure, though no reversal is yet affirmed.
According to the data from CoinMarketCap, public opinion is very positive, with 87% feeling optimistic regarding directions the market will take. Most expect that the price will rise. Of 270.1K votes, this optimism would equate to confidence and forecasted growth.F
Source: CoinMarketCap
On the other side, 13% of investors remain pessimistic and forecast declining prices. Though smaller in count, their stance indicates prudence and possible dangers ahead. The difference reflects differing opinions, although sentiment is predominantly bullish.
Also Read: JasmyCoin Price Analysis: Will JASMY Hit $0.016 Soon or Stay Range-Bound?
Also read: Dogecoin (DOGE) Price: Technical Analysis Shows Critical $0.22 Support Level
