• The coin is consolidating below key moving averages, showing low volatility and accumulation.
• RSI and MACD indicate weak buying but potential for a trend reversal.
• Holding support with growing buying pressure could fuel a strong rally toward the $0.011–$0.04 range.

JasmyCoin (JASMY) is moving in a consolidation phase with slight declines in its value. Its price has declined by 2.89% over the last 24 hours, but looking at the last week, it has surged by 3.57%, reflecting that participants are hopeful about a trend reversal.

At the time of writing, JASMY is trading at $0.009382, supported by a 24-hour trading volume of $24.93 million, marking a surge of 6.29% compared to the previous session. Moreover, the token’s market capitalization stands at $464.04 million, placing the token among strong market performers.

Source: CoinMarketCap

Also read: JasmyCoin (JASMY) Holds Key Support, Bulls Eye Breakout Toward $0.014 Target

Jasmy Enters Cool-Down Zone Before Accumulation

From the technical perspective, JASMY also paints a picture of continued consolidation following the prolonged bearish phase. The price action still moves below all the important moving averages, thereby showing that the selling trend dominates, while bulls struggle to reclaim momentum. 

The MA ribbon’s dominance in charts has deepened the current bearish formation, not providing any signs of crossovers that may indicate recovery. The market is sideways, with movement at low volatility. This is a classic sign of accumulation whereby traders will be waiting for a clear breakout signal to commit to new positions.

Source: TradingView

The momentum indicators demonstrate this conservative trend. The RSI is staying in the lower region, indicating that there is little buying force, as it is moving in an oversold state, whereas the MACD is remaining below the zero line, indicating that the fall is far from over. However, this consolidation zone might also be a preparation zone for an accumulation zone.

JASMY Gears Up for Potential Rally Toward $0.04

According to the crypto analyst Jonathan Carter, JASMY is creating the possibility of a bounce as it retests a key support zone within a descending channel on the 2-day chart. Traders are paying attention, since these types of support levels tend to work as launchpads for any subsequent bullish momentum. Holding this area would provide evidence of renewed strength in the near-term prospects of the token.

Source: X 

If the momentum continues, JASMY may set sights on further resistance levels at $0.011, $0.014, and $0.019, with extended goals at $0.023, $0.032, and $0.040. Once this level is breached, it is possible to feel safe from a strong recovery phase. Historically, strong support tests have brought forth some of the most successful rallies for this token.

Also read: JasmyCoin (JASMY) Price Forecast: Bullish Setup Points to 360X Upside Potential