• JASMY has surpassed its symmetrical triangle and it now has a new momentum after weeks of consolidation at the range of $0.0096 to $0.01115.
• The $0.0096 area remains an important accumulation point and RSI of 60.95 indicates that there is a moderate bullish control in the area.
• A breakout continuation will be significant with regular closes at and above $0.01115 and increased traded volume.

JasmyCoin (JASMY) has recorded a strong recovery after a lengthy stagnation phase, and the token is currently trading at $0.01081 with a gain of 10.9% in the last 24 hours. The recent escape out of a symmetrical pattern of the four-hour plan is an indication of fresh momentum after a consistent compression period. This is a move that follows a few weeks of tightening of price action implying that the market is currently responding to accumulated pressure in the zone of consolidation.

Price Action and Technical Boundaries

The new candle formation indicates JASMY closing out of the top end of its triangle formation. The short-term range is represented by immediate resistance at $0.01115, and the major support at the level of $0.009608. These levels have been within the 24-hour trading range which has been moderately volatile as traders determine whether the breakout will last.

The trend may be the result of a completed triangle or a wave formation which is impulsive and based on preceding lows. In both instances the price response above the trendline is an act of short term strength. Nevertheless, the move will have to be supported by constant trading volume, and confirmation can be achieved by an increase in closes.

JASMY Builds Momentum Above $0.0096 Support as RSI Signals Renewed Buyer Strength

Momentum indicators also give an idea on the prevailing market conditions as well. The Relative Strength Index (RSI) of four-hour was almost 60.95, which showed a neutral-positive momentum. This value indicates that buyers have again acquired moderate control without going overbought.

In a bigger picture, the structure of JASMY has displayed a pattern of increasing lows since the beginning of October, which is an indication of slow building up. The fact that the response of the zone is upwards, indicates that the zone is a significant area of stability in the short run. Also, the recent upward movement beyond the triangle pattern is an indication that the participants are acting on technical indications that volatility is returning to the market. JASMY/USD continues to trade within a tightening consolidation range, holding firm near $0.0096 support and a resistance around $0.01115.