JasmyCoin (JASMY) Volume Explodes 300%: Is Stronger Momentum Ahead?

• JasmyCoin ($JASMY) trades at around $0.0045.
• Trading volume has skyrocketed by over 300%.

JasmyCoin ($JASMY) has rised 3.66% in value, currently trading at $0.004532, with its trading volume skyrocketing 367%, settling at $25.86 million. The asset’s chart is printing a Double Top, two rejections at the same resistance level with sellers stepping in hard both times.

Also, the buyers have tried and failed to push to new highs, and that pattern carries a clear bearish message until proven otherwise. The neckline is the level that matters most right now. A confirmed break below it opens the door to increased downside momentum and a more sustained selloff.

If bulls reclaim the recent highs and break the multi-resistance area cleanly, the Double Top gets invalidated, and a steady rally of over 10% becomes a target. Moreover, the market sentiment of $JASMY sits at a bearish bias until buyers reclaim resistance.

Will JasmyCoin Extend Its Gains or Lose Momentum?

The four-hour trading session of $JASMY displayed a positive trend, and its immediate resistance range might be at around $0.004605. If the bulls gained more traction, the upside pressure continues, and initiates the formation of the golden cross. Gradually, it would target a crucial price level above $0.0047.

On the contrary, once the bears take control of the JasmyCoin market, the risk of loss can be expected, with the price might retrace back to the support zone of $0.0044. A sustained correction on the downside triggers the death cross to unfold, and the potential bears may send the asset’s price below $0.004321.

In addition, $JASMY’s Moving Average Convergence Divergence (MACD) and signal lines are above the zero line. It confirms that the short-term moving average is trading higher than its long-term average. The buyers have control of the macro market direction.

Any minor price drops could be a healthy pullback within an ongoing uptrend rather than a structural reversal. The primary market forces are working to push the price higher, and the path of least resistance remains upward.

The daily Relative Strength Index (RSI) value staying at 57.34 hints at a solid, bullish condition. As it is above the 50 midline, the upward price momentum is dominant, and buyers are driving the market action.

The reading is way below the overbought threshold; JasmyCoin is under no immediate pressure to exhaust its momentum. Notably, the buying pressure is strong and steady, suggesting it has the fuel to climb higher.