What's Next, JASMY? I received many requests to do another chart analysis. So, let's look closer at where we are and what JASMY's next move will probably be.
We had another amazing pump at the end of May/beginning of June, during which JASMY added another 100% and topped at the 0.045 level. More importantly, the token briefly broke through the resistance at 0.024 and even 0.037.
As expected, JASMY then entered a consolidation phase — which is absolutely necessary and healthy!! So far, JASMY corrected 30% based on the top.
If you zoom out, you can see that JASMY mirrors the March price performance. After the run-up, we had exactly the same correction of 30%. However, at that time, the consolidation took three months.
I don't expect a similar length this time. On a macro-level, I am convinced that the CRYPTOCAP:ETH ETF approval will initiate a run for many altcoins. Additionally, we had a couple of positive news from SONY entering the crypto market, which can also positively influence JASMY.
Ultimately, I expect the following:
- Some more sideways consolidation is likely until the ETH ETF launch.
- Re-test and break through the resistance at 0.037
- Pump towards 0.068 before entering a new consolidation phase.
Levels to watch:
- 0.024: This level should serve as strong support. A break below could initiate a dip towards 0.016 levels.
- 0.036 smaller resistance
- 0.068 target after a bullish breakout
