JASMY Maintains Bullish Breakout Amid 1% Dip and 49.46% Volume Surge

JasmyCoin (JASMY) is currently trading at $0.01643, experiencing a 1.09% decline in the past 24 hours amid notable intraday volatility [1]. Despite the drop, the coin's price action continues to maintain a bullish breakout structure, with the $0.2785 level still positioned as a key technical target. This level represents a potential upside of over 1,513% from current levels, reflecting a substantial upside if the projected trend continues [1].

The recent price movement has shown a pattern of higher lows, which has helped to preserve the upward bias of the market structure. Traders have noted that JASMY remains above the ascending trendline established after breaking out of a falling wedge formation [1]. This breakout marked the end of a prolonged downtrend and signaled the beginning of a new upward phase, supported by sustained structural strength.

The breakout occurred when the price crossed above the wedge’s upper resistance line, shifting the market into a positive cycle. Analyst Javon Marks had previously identified $0.2785 as a potential breakout target, a projection that remains valid despite the passage of time [1]. The current market action continues to align with the original technical framework, reinforcing the view that the coin is on a path toward that target.

Trading volume has also shown a significant increase, with 24-hour trading volume reaching $78.4 million—a 49.46% rise from the previous period [1]. This uptick in volume suggests increased market participation and heightened interest in JASMY, potentially supporting the continuation of the upward trend. The coin’s market capitalization stands at $812.8 million, fluctuating in line with the observed price movements during the session.

Technical indicators show JASMY maintaining a consolidation phase around a mid-range level, with prices holding above the long-term ascending trendline [1]. This consolidation is seen as a precursor to further upward movement, provided the structural elements remain intact. The gap between the current price and the $0.2785 target remains significant, but the ongoing bullish setup continues to support the expectation of a move in that direction.

JASMY’s performance reflects a mix of short-term volatility and long-term structural strength, with the market showing signs of resilience despite the 1% dip. The price action over the past few sessions has reinforced the breakout pattern, with higher lows being formed and the trendline remaining intact [1].

Source: [1] JASMY Holds Breakout Structure as $0.2785 Target Remains in Play Despite 1% Dip (https://cryptonewsland.com/jasmy-holds-breakout-structure-as-0-2785-targe/)