Technicals Send Mixed Signals as JASMY Tries To Break ResistanceThe JasmyCoin price dipped slightly from its previous 4-hour close as it attempts to overcome a small supply zone . Despite this dip, the 9 Exponential Moving Average (EMA) stands at $0.016332, slightly above the current price, suggesting a bullish trend in the short term. Conversely, the 20 EMA at $0.015722 trails the current price, indicating a more bearish sentiment in the medium term.
The Moving Average Convergence Divergence (MACD) further corroborates this mixed sentiment. While the MACD line has shown a positive divergence from the signal line over the past 24 hours, suggesting bullish momentum, the histogram has started to shrink, indicating a potential weakening of this bullish trend.
Relative Strength Index (RSI) readings hover around the neutral zone, indicating neither overbought nor oversold conditions. This suggests a degree of indecision in the market sentiment, with potential for either bullish or bearish movements.
Considering the key support and resistance levels, the JasmyCoin price faces immediate resistance at $0.018276. If the price manages to breach this level convincingly, it could pave the way for a rally. Conversely, failure to sustain above the current level might lead to a retest of support at 0.014409, followed by a deeper support level at 0.012568.
Given the current market conditions and technical indicators, traders may consider the following entry points:
Long Trade Entry: A convincing break above the $0.018276 resistance level, supported by increasing volume and bullish confirmation from MACD and RSI indicators.
Short Trades Entry: If the price fails to sustain above the 0$.017686 resistance level and shows signs of reversal, accompanied by bearish confirmation from MACD and RSI indicators.
