The next few hours have become very critical for the JASMY coin price prediction as the price is retesting the breakout. In yesterday’s trading session, JASMY crypto broke out of the descending triangle. The price surged after the breakout but faced resistance from the $0.01 level. The $0.01 level has become a local resistance as the price has been rejected from this region quite a few times.
On Tuesday morning, the Bitcoin price slid back below $20,000. Due to this negative price action, the JASMY coin is retesting the breakout. This retest has become very critical as our JASMY coin price prediction depends on its outcome.
JASMY has been in a continuous downtrend since the start of the year. Its price chart shows that the sell-off intensified after losing the $0.05 level. The Japanese cryptocurrency tagged the lows of $0.008 as Bitcoin price plummeted to the $17.6k level in June. According to JASMY coin news, the coin has hit the milestone of 30,000 holders on the Ethereum blockchain.
These holders are holding the coin as an ERC-20 token. If you’re looking to buy JASMY then the best place to buy for US residents is Coinbase. Other notable exchanges include Binance, Kucoin and Houbi Global.
Jasmy coin price prediction
Technical analysis of the JASMY coin price chart depicts a clear breakout in the 4H timeframe. Price has been trading inside the descending triangle since May with strong support at the $0.008-$0.0085 level. Considering the measured move of this breakout, the potential bullish target is $0.018. This would be more than an 80% increase from the current price of $0.0097.
It is worth mentioning here that JASMY crypto has a direct correlation with Bitcoin price action. Therefore, any JASMY coin price prediction massively depends on the BTC price. A new low for Bitcoin price might trigger another bearish leg for the JASMY coin. Therefore, if you’re trading the breakout then don’t forget to keep your stop loss below the $0.09 level.