Momentum Builds for JasmyCoin (JASMY): Can It Conquer Major Resistance?

• JasmyCoin is up 4%, currently trading at $0.0059.
• $JASMY’s trading volume has exploded by over 135%.

Within the full-blown panic, the crypto charts display mixed signals across the digital assets. There is not even an early recovery attempt, and the green in the market is not so strong, but the red is. The majority of the assets have lost momentum, revisiting their former lows. Among the pack of altcoins, JasmyCoin ($JASMY) has registered a spike of over 4.75%.

$JASMY’s lowest and highest trading ranges fall between $0.005402 and $0.006045, respectively. If the critical resistance ahead is broken, the asset could likely wake the potential bulls to climb higher. At the time of writing, JasmyCoin traded in the $0.005921 range, with its daily trading volume having skyrocketed by over 135.91%, reaching the $21.79 million mark.

The recent price pattern is bearish, with red candles popping out. The JasmyCoin price could slip to its key support at $0.005821. With more downside pressure, the death cross would take place, and target the crucial mark around $0.0057. On the upside, assuming the bulls appear, the $JASMY price may rise toward the resistance level at $0.006030. A sustained climb could trigger the golden cross to unfold and send the asset upward, above the $0.0061 zone.

JasmyCoin: Momentum Building or Losing Steam?

The Moving Average Convergence Divergence and the signal lines of JasmyCoin are below the zero line. It indicates that the broader trend remains bearish. Since the MACD is slightly below zero, the downside momentum appears to be weakening for an early recovery. Moreover, the Chaikin Money Flow (CMF) indicator is at 0.12, which suggests solid buying pressure in the $JASMY market. Significantly, the positive value reflects steady capital inflow, with accumulation taking place.

JasmyCoin’s daily Relative Strength Index (RSI) is positioned at 58.83, which implies moderate bullish sentiment. The buyers have the current edge, with the asset having enough room for further upside, and it may approach the overbought phase. Furthermore, the Bull Bear Power (BBP) reading of $JASMY is resting at 0.00042 points toward its nearly neutral momentum with a very slight bullish tilt. Notably, the ongoing momentum is essentially balanced.