The JasmyCoin price dipped slightly from its previous 4-hour close as it attempts to overcome a small supply zone . Despite this dip, the 9 Exponential Moving Average (EMA) stands at $0.016332, slightly above the current price, suggesting a bullish trend in the short term. Conversely, the 20 EMA at $0.015722 trails the current price, indicating a more bearish sentiment in the medium term.
The Moving Average Convergence Divergence (MACD) further corroborates this mixed sentiment. While the MACD line has shown a positive divergence from the signal line over the past 24 hours, suggesting bullish momentum, the histogram has started to shrink, indicating a potential weakening of this bullish trend.
Relative Strength Index (RSI) readings hover around the neutral zone, indicating neither overbought nor oversold conditions. This suggests a degree of indecision in the market sentiment, with potential for either bullish or bearish movements.
Considering the key support and resistance levels, the JasmyCoin price faces immediate resistance at $0.018276. If the price manages to breach this level convincingly, it could pave the way for a rally. Conversely, failure to sustain above the current level might lead to a retest of support at 0.014409, followed by a deeper support level at 0.012568.
Given the current market conditions and technical indicators, traders may consider the following entry points:
Long Trade Entry: A convincing break above the $0.018276 resistance level, supported by increasing volume and bullish confirmation from MACD and RSI indicators.
Short Trades Entry: If the price fails to sustain above the 0$.017686 resistance level and shows signs of reversal, accompanied by bearish confirmation from MACD and RSI indicators.
The Moving Average Convergence Divergence (MACD) further corroborates this mixed sentiment. While the MACD line has shown a positive divergence from the signal line over the past 24 hours, suggesting bullish momentum, the histogram has started to shrink, indicating a potential weakening of this bullish trend.
Relative Strength Index (RSI) readings hover around the neutral zone, indicating neither overbought nor oversold conditions. This suggests a degree of indecision in the market sentiment, with potential for either bullish or bearish movements.
Considering the key support and resistance levels, the JasmyCoin price faces immediate resistance at $0.018276. If the price manages to breach this level convincingly, it could pave the way for a rally. Conversely, failure to sustain above the current level might lead to a retest of support at 0.014409, followed by a deeper support level at 0.012568.
Given the current market conditions and technical indicators, traders may consider the following entry points:
Long Trade Entry: A convincing break above the $0.018276 resistance level, supported by increasing volume and bullish confirmation from MACD and RSI indicators.
Short Trades Entry: If the price fails to sustain above the 0$.017686 resistance level and shows signs of reversal, accompanied by bearish confirmation from MACD and RSI indicators.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.