- Ethereum has rebounded from $1,774 to $2,043, showing early signs of crypto market recovery and improving sentiment for altcoins.
- INJ has formed a bullish falling wedge pattern after losing 76% from its December high, now approaching resistance with potential for 109% rally to $21.16.
- JASMY is also trading in a falling wedge formation since December, currently testing upper boundaries with potential 145% upside to $0.03472.
- Both tokens are at crucial technical levels where confirmed breakouts could trigger significant recovery rallies, though broader market sentiment remains key.
Date: Wed, March 19, 2025 | 04:14 PM GMT
The crypto market is showing early signs of a rebound as Ethereum (ETH) has bounced back from last week’s low of $1,774 and is now trading at $2,043 — a promising shift after a choppy start to March. As sentiment gradually improves, altcoins like Injective (INJ) and Jasmycoin (JASMY) are beginning to stir as well.
Both tokens have taken a heavy hit over the past few months, but with today’s impressive gains and encouraging price action, it looks like a potential recovery could be on the horizon — possibly fueled by key breakout moves.
Injective (INJ)
INJ’s daily chart shows a falling wedge formation — a bullish reversal pattern — that began after the token was rejected from its December 5 high of $34.93. Since then, INJ has undergone a prolonged correction, losing over 76% of its value and hitting a low of $8.18 on March 11, where bulls stepped in to defend support.
Currently, INJ has rebounded to $10.15 and is inching closer to the wedge’s upper boundary. If it manages to break out and successfully retest the level, INJ could target the 50-day moving average and the key resistance zone around $16.81.
A strong breakout above this level may pave the way for further upside toward the 200-day moving average and the $21.16 region — representing a potential 109% rally from current levels.
Jasmycoin (JASMY)
JASMY has also been trading within a falling wedge pattern since hitting a peak of $0.059 on December 6. The continued downtrend dragged the price down to $0.011, aligning perfectly with the pattern’s support, where buyers have recently begun accumulating.
Now trading at $0.014, JASMY is moving closer to testing the wedge’s upper boundary. A breakout and successful retest could see the token challenge its 50-day moving average and the $0.023 price zone.
If bullish momentum continues, JASMY could potentially climb toward $0.03472 — a 145% increase from current levels.
Could a Breakout Spark a Full Recovery?
INJ and JASMY are both at crucial technical levels, with bullish falling wedge patterns suggesting possible trend reversals. A confirmed breakout backed by strong volume could trigger a significant recovery rally in the coming weeks.
However, the broader crypto market sentiment remains key — especially with the upcoming Federal Reserve meeting expected to influence investor confidence and short-term momentum.
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