JasmyCoin (JASMY) has been steadily holding higher lows since its late 2022 bottom, signaling growing market confidence. As of Tuesday, February 24, the crypto analyst, Javon Marks, points to a key support level forming within a falling wedge pattern, a structure historically linked to bullish reversals.
Early signs indicate that the token could be preparing for a breakout, attracting traders’ attention across the market.
The previous Falling Wedge breakout proved exceptionally profitable for JASMY investors, delivering a 17-fold gain, over 1,600% in value. Patterns like these suggest that history could repeat, offering substantial upside potential.
Traders and long-term holders are closely watching this technical formation, as breaking out from the wedge could ignite momentum comparable to its previous explosive rally in 2022–2023.
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Javon Marks has identified that $0.2785 is the next level to be targeted, and this represents an astonishing increase of 4,310%.
This requires significant bullish momentum, and this is achievable based on the presence of higher lows and wedges. Crypto enthusiasts are closely watching trading volumes to confirm this monumental rise.
Source: Javon Marks X Post
While technical indicators are encouraging, experts advise that cryptocurrency markets are still very volatile. Investors must keep an eye out for volume increases to be sure of the breakout.
If JASMY breaks through this significant wedge resistance level, it could be the start of something new and exciting with huge rewards for smart investment.
According to TradingView, as of Tuesday, February 24, the RSI is at 42.33, which is lower than the 50-level but higher than the oversold level of 30.
The yellow line is slightly higher at 43.67, indicating mild bearish sentiment. The RSI has recently shown signs of change from its downward movement, indicating that selling pressure has eased, but the market has yet to gain traction.
Source: TradingView
The MACD shows that the MACD line is slightly below the signal line, with values of -0.00006 and -0.00004, respectively. Small histogram bars close to zero suggest that there is very little momentum and no trends are present.
The flattening of the MACD and histogram suggests that consolidation is taking place. Combined with the RSI, the token is in a phase with little momentum, which might be a precursor to a breakout or a consolidation phase.
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Also read: 4 Bitcoin sell signals since 2024: Is BTC history repeating?
