JasmyCoin Market Overview: Sharp Selloff and Bearish Confirmation

• JasmyCoin declines sharply, breaking key support levels with high volume and a bearish engulfing pattern near the 24-hour low.
• Momentum remains bearish with RSI in oversold territory and MACD showing deep negative divergence.
• Volatility expanded after a period of consolidation, pushing price toward the lower Bollinger Band and triggering a sharp sell-off.
• Turnover surged in the early morning hours, indicating increased selling pressure and potential capitulation.
• Fibonacci retracements suggest a possible short-term bounce near $0.0175 but bearish continuation is likely.

Market Overview

JasmyCoin opened at $0.01851 on 2025-07-23 12:00 ET and closed at $0.01731 on 2025-07-24 12:00 ET, reaching a high of $0.01872 and a low of $0.01662 over the 24-hour period. Total volume was 213,139,757.5 and total turnover was approximately $3,742,247 (calculated using close prices and volume).

Structure & Formations

The 15-minute chart reveals a strong bearish reversal pattern with a bearish engulfing candle forming near the 24-hour low. Price action shows a breakdown below key support at $0.0178 and $0.0175, with the current price now resting near $0.01731. The structure suggests further downward pressure is likely unless the price can reclaim $0.0178 on a sustained basis.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both bearish, with the price trading well below both. On the daily chart, the 50-day and 200-day moving averages are aligned in a bearish bias, reinforcing the downtrend. The price remains in a clear bear phase with no sign of a reversal in the short term.

MACD & RSI

The RSI has dropped to oversold territory (below 30), indicating potential for a short-term bounce, but bearish momentum remains strong. MACD is in deep negative territory with bearish divergence, suggesting that the selloff may continue despite the oversold reading. The combination of these indicators points to a continuation of the downtrend unless a strong bullish reversal emerges.

Bollinger Bands

Volatility increased sharply in the latter half of the 24-hour period, with the price settling near the lower Bollinger Band. The expansion of the bands indicates rising uncertainty and selling pressure. A break below the current lower band could signal a new short-term low, while a retest of the upper band at $0.0178 would be a critical test for buyers.

Volume & Turnover

Volume spiked during the early morning hours (ET), especially between 04:00 and 06:00 ET, coinciding with the most aggressive leg down. The high volume and declining price indicate strong bearish conviction. Notional turnover also surged during the same period, suggesting significant participation from larger traders or capitulation selling.

Fibonacci Retracements

On the 15-minute chart, the price has retraced to the 61.8% level of the recent bullish swing, which is now acting as a key resistance. On the daily chart, the 38.2% and 61.8% retracement levels of the larger downtrend align with key psychological levels around $0.0175 and $0.0170, which could serve as potential short-term support and resistance.

JasmyCoin appears to be in a strong bearish phase, with momentum and volume confirming the selloff. A short-term bounce near $0.0175 is possible, but bearish continuation is likely. Investors should remain cautious, especially if price fails to hold above $0.0173 and volume remains elevated.