JasmyCoin (JASMY) Price Chart Shows Familiar Patterns as This Analyst Predicts a 20,000% Surge!

JASMY has shown notable price movements, with analysts drawing comparisons to previous breakout cycles. Top analyst Javon Marks noted on X that the token previously experienced a 500% price surge following a breakout

JasmyCoin (JASMY) has been a hot topic in crypto circles as one analyst predicts a 20,000% surge for the token.

What Happened: As shared by Javon Marks, a well-known analyst on X, formerly Twitter, the token has shown some interesting price movements that might be familiar to those who follow crypto closely.

According to the analyst, the token previously experienced a 500% price increase after breaking out of a period of consolidation, which was also accompanied by a surge in trading volume.

Now, as shown in the chart shared by the analyst, the price volume has outpaced its highest positive levels, suggesting a similar setup for what could be another major price increase.

Looking at the chart above, we can see a drop in price, followed by a period of sideways movement, and finally several upward breakouts from a period of consolidation.

The market has also shown some positive patterns like falling wedges and symmetrical triangles, which usually lead to price jumps when they appear on the chart.

If this pattern continues to hold, we might see another big price increase soon, which could be driven by a breakdown of the key resistance level.

Why It Matters: One of the key indicators in this analysis is trading volume, which has played a crucial role in past instances of rapid price changes for.

The latest volume figures have exceeded previous highs, suggesting strong buy-side activity. As highlighted in the chart, we can see two marked instances of volume spiking, both of which occurred before major price movements.

Typically, increased volume precedes large price swings, suggesting potential accumulation by traders. If this trend continues, it could indicate a setup for another breakout, reinforcing analysts’ projections of a massive upward move for the token.

As continues to trade within its breakout structure, support and resistance zones remain crucial. The price has successfully converted previous resistance areas into support, providing a stronger foundation for further upward movement.

According to Javon, if continues to break upward like it is now, it could eventually reach $2.99. That would be more than a 200x increase from where it’s trading now.

Now, the price is testing some important support levels. If these levels hold, then we can expect prices to keep moving up. On the other hand, failure to sustain these levels might lead to temporary pullbacks before any further bullish momentum.

What Next: The tweet from Javon Marks highlights a strong bullish view, tying in current market conditions with previous breakout cycles. While speculative targets are ambitious, the alignment of technical indicators, volume surges, and historical trends supports the potential for continued upward momentum.

Investors and traders will be monitoring the market behavior closely to determine whether can sustain its current trend and if technical fib levels will continue to hold.