- JasmyCoin’s current price action shows similarities to patterns preceding its 500% surge in early 2024.
- A Hidden Bullish Divergence pattern has been identified, suggesting potential upward momentum despite recent price movement.
- Value Area High (VAH) support is holding firm, providing a foundation for a possible breakout scenario.
In the recent analysis, JasmyCoin ($JASMY) has attracted attention because of a possible bullish pattern. This indicates the same degree of an upward movement observed in February of this year. Market analysts are directing their attention to the fundamental technical aspects on a chart, which suggest the likelihood of another massive return on investment in JasmyCoin. The pattern that was mentioned is called the Hidden Bullish Divergence, which means that the price is likely going down or trading flat, but the intrinsic driving force is still bullish.
Recognizing Fractals and Value Area High (VAH) Support
The picture posted here shows green boxes which mean consolidation phases when the price usually flattens out after fluctuations. These green boxes are called bar patterns, or patterns of bar shapes; the latest one resembles the pattern of the previous consolidation immediately prior to the sharp price rise.
Repeating of these patterns also known as fractals in technical analysis bolster the argument for a similar move to the previous upsurge which saw JasmyCoin go up more than 500% in early 2024.One of the technical aspects supporting this opinion is that the Value Area High (VAH) had resisted and did not break down further.
VAH is a price level where the most trading has taken place and it is accompanied by a strong support or a resistant level. Here, VAH has served as a support level, indicating that there is a good ground to see further up move in future if buying pressure keeps on mounting.
Read CRYPTONEWSLAND on
google news
What Could Be Next?
Despite technical patterns not always delivering the desired outcomes, the signals are pointing toward another steep rise in JasmyCoin. The yellow curve on the chart represents a possible breakout after the consolidation phases occur in the market. Should this play out as envisioned by the fractals alongside the Hidden Bullish Divergence, traders and investors will be in for a massive uplift in the price.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
