Summary
•
declined in a bearish continuation pattern, testing key support at 0.00814.
• RSI signaled oversold territory, hinting at potential short-term buying interest.
• Volatility increased during the overnight session, with volume surging above 7 million.
• Bollinger Bands widened as price approached the lower band, indicating a consolidation setup.
• A 50-period moving average on 5-min data confirmed the bearish bias amid fading momentum.
JasmyCoin/Tether (JASMYUSDT) opened at 0.00828, peaked at 0.0083, and dipped to 0.00802 before closing at 0.00805 at 12:00 ET. Total volume reached 75.3 million, with turnover of approximately 614,166. The pair displayed a bearish trend throughout, with bearish engulfing patterns and fading momentum.
Structure & Formations
The 24-hour chart showed a bearish continuation pattern as price declined below key support at 0.00814 and tested 0.00807–0.00802. A doji appeared near 0.00802, signaling potential exhaustion of the downward move.
Moving Averages
The 20 and 50-period moving averages on the 5-min chart confirmed a bearish bias as price remained below both. On a daily scale, the 50-period line sits above 0.00826, suggesting a possible reversal point if buyers reclaim this level.
Momentum & Volatility
RSI entered oversold territory near 30, pointing to potential short-term buying interest. MACD showed negative divergence, indicating weakening bearish momentum. Bollinger Bands expanded as price approached the lower band, suggesting a period of consolidation or reversal may be near.
Volume and Turnover
Volume spiked sharply during the overnight hours, reaching over 7.5 million at 02:15 ET. Notional turnover peaked at 22,621 at the same time, confirming the strength of the bearish move. However, volume has since cooled slightly, indicating possible exhaustion of the current trend.
Fibonacci Retracements
On the 5-min chart, price found support at the 61.8% retracement level of the 0.00807–0.00815 swing, currently at ~0.00808. On the daily chart, the 38.2% retracement level at ~0.00819 may serve as a key resistance ahead of the 50-period moving average.
The price may consolidate in the coming 24 hours as short-term buyers test the 0.00802–0.00805 range, but risks remain if sellers reassert control below 0.00802. Investors should closely watch the 50-period MA on the daily chart as a potential reversal signal.
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