An analysis of the current state of JasmyCoin shows that the cryptocurrency has broken a crucial support level, indicating potential further decline.
Weak Market Structure Signals
JasmyCoin (JASMY) has dropped below a key support level that had been relevant since February 2024. The current price is $0.01204, and this breakdown suggests more downside could be on the way. The last time JASMY slipped below this level was three months ago, when it fell to $0.008 before finding any serious support.
Lack of Bullish Signals
Looking at the daily chart, the Bollinger Bands are squeezing tightly around the price, indicating a buildup before a significant move. However, the fact that the price is pressing against the lower band suggests increasing selling pressure. JASMY is now trading well below its 20-day moving average, which has acted as dynamic resistance since late March. There are no signs of bullish momentum at present.
Future of JasmyCoin
In this current state, the market structure shows no bullish support or reliable zones that could stop the ongoing trend. The psychological support around $0.01 is now at risk, and if that level gives way, $0.008 looks like the next area of interest. However, even that level might not hold if the broader crypto market continues to weaken.
JasmyCoin remains in a bearish trend, and current dynamics suggest potential for further declines. Weak market signals make long positions risky.
