Cardano (ADA) Shows Bullish Potential While JasmyCoin (JASMY) Faces Resistance: Market Analysis

The cryptocurrency market is witnessing some intriguing movements, with Cardano (ADA) showing bullish potential while JasmyCoin (JASMY) faces moderate resistance.

Cryptocurrency prices today: Cardano shows bullish potential, while JasmyCoin faces moderate resistance

The cryptocurrency market is witnessing some intriguing movements, with Cardano (ADA) showing bullish potential while JasmyCoin (JASMY) faces moderate resistance. Let's take a closer look at their price trends and what to expect next.

Cardano (ADA) price today

Cardano's price is showing some promising signs, with the coin up by 3.95% in the past 24 hours. This follows a period of consolidation, raising the question of whether ADA is ready for a significant price surge.

Currently, ADA is trading at $0.9036. This recent price breakout from a consolidation phase is highlighted on the price chart, indicating growing bullish momentum. Key support levels are crucial for sustaining this upward movement.

During its previous price fluctuations, ADA found stability around $0.87, which helped trigger the breakout. Another support level, at $0.85, acted as a solid base, where buyers stepped in during intraday volatility.

The nearest resistance is at $0.91. Breaking through this could lead to a test of higher resistance at $0.93, or even $1.00. The price's movement above the $0.90 mark will determine if the bullish trend continues.

Also Read: Cardano’s Market Outlook: Why $4 ADA Is Within Reach by Spring 2025

Also, the 12.48% increase in 24-hour volume supports the breakout, adding credibility to the ongoing momentum. The RSI is hovering near 50, indicating neutral momentum. A move above this level could signal stronger buying interest, while a drop below 44 might point to bearish pressure.

The MACD also indicates bullish potential, with the MACD line crossing above the signal line. However, caution is warranted as the histogram remains neutral, suggesting that momentum could shift either way in the near future.

JasmyCoin (JASMY) price today

JasmyCoin is experiencing a modest rebound from lower levels, showing some short-term bullish potential, although its momentum is weaker than ADA's.

The key support levels for JASMY are at $0.0362 and $0.0355. The price has bounced back at these levels multiple times recently.

Resistance, however, is proving to be a challenge. The $0.0370 level has repeatedly halted price advances, and $0.0375 may present a more significant barrier if the price attempts to move higher.

Also, the decline in 24-hour volume, down by 26%, suggests that the market sentiment is weakening.

Hence, a breakout above $0.0370 could drive the price toward $0.0375 or higher, while failure to hold $0.0362 may lead to a retest of $0.0355.

The RSI is slightly below 50, indicating that JASMY is neither overbought nor oversold. Hence, it remains in a neutral zone, with the next moves heavily dependent on market conditions.