Date: Mon, Sept 23, 2024, 05:48 PM GMT
The cryptocurrency market has kicked off a fresh bullish rally, spurred by the recent Fed rate cut decision. This move has sparked impressive price surges across a wide range of tokens, and JasmyCoin (JASMY) has been no exception. The IoT-focused cryptocurrency surged by 5.64% today, confirming a breakout that traders had been eyeing for some time.
Recently, JASMY broke free from a descending wedge pattern on the 1-day chart, a breakout that analysts had predicted earlier. The decisive breakout occurred around the $0.01979 level, sparking steady upward momentum. However, traders remained cautious, waiting for a daily close above $0.02150, as a previous attempt to break out on September 14th turned out to be a fake-out.
Today, JASMY has finally confirmed its position, breaking out of that tight level and currently trading at $0.02197. With this confirmation, the token appears set for a potentially strong bullish rally ahead. On the daily timeframe, the next resistance levels are at $0.02353 and $0.03186, offering a possible 44% upside from the current price.
If JASMY continues this upward trend, traders and investors may see this as the beginning of a stronger market move.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.