The price of JasmyCoin (JASMY) is once again in a dangerous zone, raising concerns among analysts. Let's explore the current situation and potential consequences.
Current Situation of JASMY
Currently, JASMY is trading around $0.0125 and is positioned just above a critical support zone, which begins around $0.0105 and stretches down to $0.0100. In the past, when the price broke below this area, JASMY experienced a drop of over 30%.
MACD and RSI Analysis
An analysis of the MACD indicator also shows no reasons for optimism. The MACD is significantly below the signal line, and both lines are in negative territory. The histogram is flat and under zero, indicating weak buying sentiment. The RSI is also sending worrying signals, currently around 33, which is close to oversold territory, indicating decreasing demand from buyers.
Price Drop Prospects
Since the failed breakout in April, JASMY has been in a clear downtrend. If the support breaks again, price could drop by around 25% to 35%, similar to previous occurrences. Current market structure and technical indicators point toward increased risks of further declines.
At present, JasmyCoin is at a critical juncture. Technical indicators suggest a bearish outlook, indicating further price declines unless there is a significant shift in market sentiment.
