Market Overview for JasmyCoin/Tether (JASMYUSDT) - 2025-11-04

Summary
• Price consolidated in a tight range, forming key support at 0.00842 and resistance at 0.0086.
• Volume spiked after 00:00 ET, confirming a sharp drop below key support levels.
• RSI shows bearish momentum, with price nearing oversold territory, suggesting potential for a rebound.

JasmyCoin/Tether (JASMYUSDT) opened at 0.00898 at 12:00 ET-1 and traded between 0.00829 and 0.00918 before closing at 0.00833 as of 12:00 ET. The total 24-hour volume amounted to 156,531,793.9999998 units, while the notional turnover was approximately $13.5 million, based on traded amounts.

Structure & Formations
The 15-minute chart reveals a bearish trend with a clear breakdown below 0.0086, forming a descending triangle pattern. A key support at 0.00842 appears robust, reinforced by a hammer candle at 0.00829–0.00832 that could signal a short-term reversal. A potential bear trap exists near 0.0086, where multiple candlesticks showed rejection.

Moving Averages
Short-term momentum, as indicated by the 20- and 50-period moving averages on the 15-minute chart, points to bearish bias, with both lines trending downward. On the daily chart, the 50- and 200-day moving averages are converging, suggesting a potential shift in longer-term sentiment if the price stabilizes.

MACD & RSI
The MACD remains bearish with a negative histogram and a declining signal line. RSI has dropped below 30, entering oversold territory, which may prompt a short-term bounce. However, a sustained move above 0.0085 is needed to confirm a reversal.

Bollinger Bands
Volatility has expanded significantly after 00:00 ET as price dropped sharply below the lower band. The current price of 0.00833 is near the lower band, indicating potential for a reversion to the mean or a continuation of the downtrend if the bearish momentum holds.

Volume & Turnover
Volume increased dramatically during the 00:00–00:30 ET window, coinciding with the breakdown of the 0.0086 support. Notional turnover also spiked during that period, aligning with the price drop and confirming the bearish move. A divergence is forming between volume and price as the latter struggles to maintain gains above 0.0085.

Fibonacci Retracements
The 61.8% Fibonacci level at 0.0085 has acted as a dynamic resistance after two failed breakouts. The 38.2% level at 0.00862 has seen rejection twice, suggesting it may continue to act as a barrier. A move below 0.00832 (38.2% retracement of the recent bounce) could confirm a larger bearish wave.

Backtest Hypothesis
Assuming RSI-14 is available, a simple mean-reversion strategy using RSI < 30 for entry and RSI ≥ 30 for exit could be backtested to gauge its viability. Given the observed RSI divergence and strong bearish momentum, this strategy may have had higher entry probabilities in the last 24 hours. Once RSI data is validated, the backtest would offer insights into its profitability, drawdowns, and risk-adjusted returns, enabling a better understanding of how well it aligns with current market conditions.