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JELLYJELLY Linear Perpetual Futures Contract

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JELLYJELLYUSDT.P trade ideas

Jelly My Jelly The technical analysis of Jelly My Jelly (JMJ) shows a critical juncture in its price action. The chart indicates a potential move towards the 0.08206 level, which aligns with the significant 0.618 Fibonacci retracement level. After reaching this resistance zone, the price is likely to experience a pullback to the 0.07054 support area before potentially making a push toward new all-time highs However, traders should exercise caution as this scenario heavily depends on JMJ's ability to break and hold above the 0.08206 resistance level. A concerning bearish scenario would unfold if the price fails to maintain support at 0.057161. Should this critical support level break down, JMJ could experience a severe decline, potentially dropping below 0.01, which would signal a significant loss of momentum and market confidence in the project The current price structure shows a series of higher lows forming on the chart, but the 0.08206 zone represents a crucial make-or-break level that will likely determine the token's medium to long-term trajectory. The presence of increasing volume during recent price action suggests growing market participation, which could provide the momentum needed for the bullish scenario to play out
by XTradeSetup