Market Overview for JasmyCoin/Tether (JASMYUSDT)

JasmyCoin/Tether (JASMYUSDT) opened at $0.01017 at 12:00 ET-1, reached a high of $0.0102, a low of $0.00991, and closed at $0.01009 by 12:00 ET today. The 24-hour volume totaled 100.46 million with a notional turnover of $1.003 million. The pair exhibited a volatile range, with bearish and bullish impulses alternating.

• Price fluctuated within a tight range, with a bearish bias in the early session before recovering in late hours
• RSI briefly dipped into oversold territory but failed to confirm a strong reversal signal
• Volatility increased mid-day, as Bollinger Bands expanded
• A bullish engulfing pattern emerged near the session close, hinting at possible near-term buying pressure
• Volume and turnover were in line with recent averages, without divergences

Structure & Formations

The 24-hour candlestick chart for JASMYUSDT showed a choppy, range-bound pattern, lacking a clear trend. Key support levels were observed at $0.00991–$0.01001, with resistance forming at $0.01012–$0.01023. A bearish inside bar pattern formed in the mid-session, followed by a bullish engulfing pattern near the close—suggesting indecision among traders. A doji near $0.01001 also signaled a potential short-term equilibrium point. These levels may act as key decision points in the coming session.

Moving Averages

On the 15-minute chart, the 20-period MA was below the 50-period MA, indicating a mildly bearish bias. However, the price crossed above both moving averages near the close, hinting at a potential short-term reversal. On the daily chart, the 50-period MA crossed above the 100-period MA, reinforcing a bullish trend. The 200-period MA remains above the current price, suggesting longer-term bearish pressure could persist.

MACD & RSI

The MACD crossed into positive territory in the last four hours, with a narrowing histogram suggesting momentum was stabilizing. RSI reached a low of 30.5, briefly entering oversold territory, and rose to 50.3 by the close—indicating that the selling pressure had eased. This suggests that while momentum was low earlier, it has started to build back in favor of buyers. A sustained move above RSI 50 could confirm a short-term bullish bias.

Bollinger Bands

Bollinger Bands expanded mid-day, indicating rising volatility. The price traded within the upper and lower bands for most of the session, with the latest candle closing just below the upper band. This suggests that the market is in a volatile but structured phase, with strong short-term directional pressure. A break above the upper band could signal a potential continuation pattern.

Volume & Turnover

Volume was moderately elevated during the recovery phase in the evening, peaking at 8.18 million at 19:30 ET. Turnover was in line with average levels, without signs of abnormal divergence from price. Notably, volume dipped during the bearish inside bar formation, suggesting a lack of conviction on the sell side. This supports the interpretation that the bearish impulse was not fully committed.

Fibonacci Retracements

Applying Fibonacci to the key swing move from $0.00991 to $0.01023, the 61.8% level is at $0.01013, which has served as resistance during the session. The 38.2% level at $0.01006 also saw activity. The price has been consolidating near the 61.8% level, which could either trigger a test of the upper band or a pullback toward the 50% level if bears regain control.

Backtest Hypothesis

For a potential strategy using this setup, a backtest could be built using JASMYUSDT as the target. The exit signal could be triggered when RSI falls back below 50, or alternatively, after a fixed holding period of 5 trading hours, whichever comes first. A stop-loss could be placed at the 38.2% Fibonacci level below the entry, and a take-profit target at 61.8%. This would allow for a controlled risk-to-reward ratio. Testing from 2022-01-01 to 2025-11-01 could provide insight into the viability of this strategy in a volatile market like JASMYUSDT.