- Crypto Market Starts Bullish Rally
- Jamycoin’s Descending Wedge Breakout
- Key Level to Watch for Rally Confirmation
The cryptocurrency market has started a bullish rally, fueled by the U.S. Federal Reserve’s decision to cut interest rates by 50 basis points. This news triggered a positive reaction across the market, with Bitcoin (BTC) leading the charge, jumping 5.19% in the past 24 hours to surge above $63K.
Crypto Market Starts Bullish Rally
The Fed's decision to cut interest rates has spurred optimism among investors. Bitcoin (BTC) continues to strengthen its position, reaching $63K. However, it's not just Bitcoin that has captured attention—Jamycoin (JASMY) is also showing impressive gains, up over 7.75% in the last 24 hours.
Jamycoin’s Descending Wedge Breakout
JASMY's recent rise can be attributed to a breakout from a descending wedge pattern on the 1-day chart, which was predicted earlier. The breakout happened around the $0.01979 level, and the token has been climbing steadily ever since.
Key Level to Watch for Rally Confirmation
Popular crypto analyst @StephisCrypto shared that JASMY is currently trading at $0.02124. He emphasized the importance of a daily close above $0.0215 to confirm a true breakout, as there was a fake-out just a few days ago. According to him, a break above the $0.0215 swing high from September 14th would confirm a stronger bullish move. Should Jamycoin successfully break this level, the next target is the $0.02341 resistance, offering the potential for a 12% gain from its current price.
The cryptocurrency market continues to exhibit positive trends following the Fed's rate cut. Investors are focused on both Bitcoin and Jamycoin, which is showing remarkable performance.
Comments