JasmyCoin (JASMY) appears poised to replicate its spectacular 2023 rally. With a bullish breakout from a descending wedge, promising technical signals, and the tailwind of the altcoin market, JASMY could be on the verge of taking off once more.
After reaching a local peak at $0.059 in early December 2024, JASMY experienced a devastating correction of 85%, plummeting to $0.0082 on April 7, 2025. However, since that low point, the altcoin has made an impressive comeback, rising 17% last week and reducing its annual loss to nearly 49%.
The weekly chart analysis of JasmyCoin reveals a very bullish chart pattern: a descending wedge. This type of technical pattern is known to signal explosive price movements, as was the case in late 2023 with a rally of over 200%.
Today, the pieces are falling into place once again: breaking through the upper trend line of the wedge, resuming the bullish momentum after a local low, and striking symmetry with the previous upward movement. Everything indicates that JASMY could be on the verge of duplicating this performance.
If the fractal scenario unfolds, JASMY will first need to break through several major resistances before taking off. The first step will be to convert the 50-week moving average ($0.024) into support. Next, an intermediate resistance zone around $0.0365 will need to be breached. This will then pave the way for a potential technical target of $0.04135, representing a gain of 156% from current levels.
Furthermore, the weekly MACD shows early signs of reversal, with a contracting histogram and an upward curve, hinting at a possible imminent bullish crossover. These indicators are often seen as catalysts for significant trend changes in the crypto markets.
Despite these very encouraging technical signals, the short-term outlook for JasmyCoin is hanging on a key decision by Binance. According to the latest community voting results, JASMY ranks third for a potential delisting. While no delisting has been confirmed yet, this atmosphere of uncertainty could deter cautious investors in the short term.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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