Date: Sun, June 22, 2025 | 07:25 AM GMT
The cryptocurrency market is reeling under intense pressure as geopolitical tensions between Israel and Iran worsen, now further escalated by the involvement of the United States. Ethereum (ETH), one of the market’s frontrunners, has slid from a monthly high of $2,877 to just $2,290. Unsurprisingly, altcoins have taken a hit — and JasmyCoin (JASMY) is no exception.
JASMY has dropped by 12% in the last week, pushing its monthly decline to a steep 39%. But while the market may look gloomy, a closer inspection of JASMY’s chart reveals an interesting development — a classic Elliott Wave pattern that could be signaling a reversal is around the corner.
Elliott Wave Structure in Progress
The current price action of JASMY is showing strong alignment with Elliott Wave Theory. From early April, the price formed a five-wave impulsive structure, peaking at Wave 5 near $0.022. Since then, the correction has been unfolding in a clear A-B-C structure:
- Wave A initiated the correction after the fifth wave peak.
- Wave B provided a temporary relief rally.
- Wave C appears to be in its final stages, with the price now hovering near $0.0114.
If this level holds and marks the bottom of Wave C, it could signal the end of the corrective phase — opening the door for a fresh impulsive wave to the upside.
However, there’s no confirmed sign yet that Wave C has completed. Price action remains tilted downward, but the proximity to support levels and the completion of the wave structure suggest that a bottom may be close.
What to Watch For
To confirm a potential reversal from this corrective phase, traders should keep an eye on a few key signals:
- A clean breakout above the 50-period moving average on the 4-hour chart, which has consistently acted as dynamic resistance.
If an impulsive recovery wave begins from here, the first logical upside target would be the $0.0159–$0.0162 zone — a previous support now acting as resistance.
Final Thoughts
JasmyCoin is currently showing an encouraging Elliott Wave structure, hinting that the worst of the correction might be nearly over. But confirmation is still needed. With the broader crypto market under macroeconomic and geopolitical stress, it’s wise to stay cautious. Look for confirmation before entering any trades — and let the price action tell the story.
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