JasmyCoin (JASMY) Tests a Key Support Level as Bitcoin (BTC) Plunges to $79,000

The cryptocurrency market has experienced one of the sharpest sell-offs of 2025 today, with Bitcoin (BTC) plunging to $79,000 before recovering slightly to $84,000.

The cryptocurrency market experienced one of the sharpest sell-offs of 2025 today, with Bitcoin (BTC) plunging to $79,000 before recovering slightly to $84,000. As a result, most altcoins continue to face downward pressure.

However, despite the broader market downturn, JasmyCoin (JASMY) managed to test a key support level after undergoing a significant 43% correction over the past 60 days.

Testing A Key Support Level

According to crypto analyst @JohncyCrypto, on the daily timeframe, JasmyCoin (JASMY) is currently trading within a descending channel, a pattern that emerged after a rejection from the December 6 high of $0.059. Since then, $JASMY has followed a structure of lower highs and lower lows.

Now, after a major 70% correction from its December peak, testing the December low, and bouncing off the 200-week moving average, a critical support zone has emerged between $0.0167 and $0.0185. This zone corresponds to the lower boundary of the descending channel and aligns with a historical support level, where price previously rebounded.

If this support holds and we see buyers stepping in to defend this zone, leading to a bounce in the process, it could set the stage for a breakout from the descending channel, setting up a potential rally towards the next key resistance levels at $0.0210, $0.0255, $0.0320, and $0.0410—offering a potential 130% upside move from current price levels.

The RSI on the daily chart is approaching oversold territory, which could favor a potential reversal if buying momentum increases. Moreover, the Volume Profile Visible Range (VPVR) shows a significant liquidity zone between $0.030 and $0.041, suggesting that a breakout above the channel could trigger rapid price appreciation due to minimal selling pressure in that zone.

Final Thoughts

Overall, JasmyCoin is at a make-or-break level, with bulls hoping for a breakout from the descending channel and bears aiming for support to fail.

The direction of least resistance will depend on the reaction to this support zone and broader crypto trends—especially Bitcoin’s price action, which could influence the next move in JASMY.

It is important to note that this article is for informational purposes only and does not provide financial advice. Always conduct thorough research and consult with a qualified financial advisor before making any investment decisions.