JASMY Shows Early Signs of Trend Reversal
JASMY RSI crosses 60 on daily chart, hinting at a possible trend reversal after a 30% price surge in 48 hours.
- JASMY RSI crosses 60 for the first time since March.
- Coin jumps 30% in just 48 hours.
- Signals potential bullish trend reversal.
JASMY, a popular altcoin in the crypto space, is making waves again. In the past 48 hours, the coin experienced a sharp 30% pump, which caught the attention of traders and analysts alike. This marks the first major move since the rally in March.
What makes this move even more significant is that the Relative Strength Index (RSI) on the daily chart has now crossed the 60 mark. This technical signal is often seen as a key indicator of growing bullish momentum, especially after a long period of consolidation or decline.
Why RSI Above 60 Matters
The RSI is a momentum indicator that ranges from 0 to 100. When the RSI goes above 60, it suggests increased buying pressure and a potential trend reversal. This is the first time since March that JASMY has broken above this threshold. Back then, the breakout led to a substantial rally.
Now, with RSI again breaching 60 following a solid price increase, market watchers are speculating whether history might repeat itself. If buying pressure continues, we could see JASMY retesting previous highs in the coming days or weeks.
What’s Next for JASMY?
While it’s still early to confirm a full-blown uptrend, the current momentum looks promising. A sustained RSI above 60 along with rising volume could indicate a new bullish phase for the token. Traders are advised to keep an eye on support and resistance levels, as well as any fundamental news that might further fuel investor sentiment.
For now, the technical signs are showing that JASMY may be waking up from its slumber, and the market is watching closely.
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