Date: Wed, April 16, 2025 | 05:10 AM GMT
The cryptocurrency market has recently faced intense selling pressure, with Ethereum (ETH) marking its worst Q1 performance since 2018, dropping over 45%. This broad downturn has hammered altcoins across the board — and Jasmycoin (JASMY) was no exception, crashing more than 50% over the last 90 days.
However, momentum is starting to shift.
JASMY has posted an impressive 37% gain in just the past week, and with price action improving and technical indicators aligning, a potential recovery rally could be on the horizon.
Testing Key MA Resistance
On the weekly chart, Jasmycoin’s recent upside move was triggered by a clean breakout from a long-standing falling wedge pattern — a bullish reversal setup that typically appears before strong recoveries. The breakout occurred around April 11, when JASMY surged above the $0.0080 level, pushing the price toward its current level of approximately $0.015.
This breakout has now brought JASMY face-to-face with a critical technical barrier — the 100-week moving average (MA), currently around $0.01607.
If bulls manage to flip this MA into support, the next key target is the 25-week moving average, sitting higher at $0.02435 — nearly 72% above the current price. That zone also coincides with a previous area of heavy resistance, making it an important level to watch.
Can History Repeat Itself?
Interestingly, JASMY has shown this pattern before. Back in late 2024, a similar wedge breakout led to a massive 232% rally, sending the token flying from the $0.012 area to over $0.04 in a matter of weeks. The structure and momentum now look similar, and many traders are watching to see if JASMY can repeat history.
Momentum indicators like the MACD are also starting to curl upward, hinting that bullish momentum may be building once again.
What’s Next?
For now, all eyes are on the 100-week MA. A confirmed breakout and weekly close above this line could open the door for a much larger move — potentially toward the $0.02435 zone and beyond.
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