|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
JasmyCoin (JASMY) Could Rally 30x If Price Breaks Out From This Key Level
Oct 26, 2024 at 01:15 am
The crypto analyst known as Steph is Crypto, who boasts over 20,000 followers on Twitter, provided insights on JasmyCoin (JASMY).
Cryptocurrency influencer Steph is Crypto, who has over 20,000 followers on X, shared his insights on JasmyCoin (JASMY). He observed a forming cup and handle pattern on the weekly chart, suggesting that a breakout from this key level could lead to a significant price increase, potentially reaching $0.62.
At the time of writing, JasmyCoin is trading at around $0.0187. A surge to $0.62 would indicate an incredible 3,300% increase, far exceeding a 30x return on investment.
The analyst highlighted the chart of the JASMY/USDT pair, showcasing the formation of a cup and handle pattern. This classic bullish continuation pattern often indicates a high probability of an upward move after a breakout.
The cup portion of the pattern has been forming from early 2022 to mid-2023, featuring a rounded bottom. This formation indicates a gradual transition from bearish to bullish sentiment, showing that selling pressure has been decreasing over time. As a result, buyers are gaining strength, pushing the price higher.
After the cup, the handle has been forming as a small descending channel or flag since mid-2023. This consolidation phase indicates a slight pause or minor correction, which is common before a potential breakout. The price retracing slightly from the peak of the cup creates a lower high, setting the next higher target for the breakout.
If the handle breaks out to the upside, it would validate the pattern and likely lead to a significant bullish move. The chart indicates a target price of $0.62, which aligns with the height of the cup measured from the breakout. This target indicates a substantial rally from the current price.
A crucial aspect of this analysis is the horizontal resistance line at the top of the cup, which serves as the key breakout level. A weekly close above this resistance could initiate the next major rally for JASMY.
The cup and handle pattern is widely recognized as a bullish indicator, and JASMY’s weekly chart presents this formation prominently. If JASMY/USDT breaks through the resistance of the handle, it could trigger a rally with a target of $0.62.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Polkadot Stumbles While CYBRO's AI Innovation Attracts Attention From XRP and Solana Whales
- Oct 26, 2024 at 04:25 am
- Polkadot is facing hurdles while CYBRO, an emerging cryptocurrency with innovative AI features, is catching the eye of major investors linked to XRP and Solana. This shift in interest among influential players hints at a possible transformation in the crypto market.
-
- Scottie Pippen Is Selling Crypto Tokens Tied to the Game Ball From the Chicago Bulls' First NBA Championship
- Oct 26, 2024 at 04:25 am
- Despite backlash when blockchain sleuth @ZachXBT noticed the developer wallet that created the token contract dumped about $330,000 worth of the supply almost immediately after launch, $BALL is up 86% since Aug. 1 with a market cap of $1.4 million.
-
- Bullish Metrics Signal Chainlink (LINK), Injective (INJ), and These 8 Other ERC-20 Tokens Could See Increased Adoption
- Oct 26, 2024 at 04:25 am
- Metrics indicating development activity provide critical insights into potential future adoption. Recent analysis from Santiment highlights the top ERC-20 tokens
-
- First Neiro on Ethereum (NEIRO) Is One of the Few Meme Coins That Registered a Price Increase in the Last 24 Hours
- Oct 26, 2024 at 04:25 am
- Through this on-chain analysis, BeInCrypto breaks down the factors contributing to the meme coin's recent performance and explores potential price trajectories moving forward.
-
- Cardano (ADA) Beats the Odds to Display Strong Signs of Bullish Momentum
- Oct 26, 2024 at 04:20 am
- Cardano's native token ADA, beats the odds to display strong signs of bullish momentum. According to technical insights ADA has the potential to soar to $2.77 representing a potential increase of over 630% from its current price.
-
- Over $20M in Cryptocurrency Transferred from U.S. Government Wallet, Sparking Concerns of Unauthorized Activity
- Oct 26, 2024 at 04:20 am
- On Thursday, over $20 million in cryptocurrency was transferred from a U.S. government wallet. Notably, this wallet is tied to funds seized in the 2016 Bitfinex hack.