JasmyCoin

Date: Tue, Dec 31, 2024, 07:35 AM GMTIn the cryptocurrency market, the bearish clouds of correction that have dominated December have caused significant retracements across major tokens. Bitcoin (BTC), after hitting a record high of $108K, has slid to $92K. JasmyCoin (JASMY), one of the altcoins that experienced an impressive rally in November, is also witnessing a retracement. Its monthly gains have shrunk to just 11%, and it is currently trading at $0.3179.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/21f1ad51d3024dfc87db68dc2dce6fba.png" />Source: Coinmarketcap<h3 id="analyst-highlights-key-setup">Analyst Highlights Key Setup</h3>Chart analyst <a href="https://x.com/Notofworks7/status/1873864633641316777" rel="noopener noreferrer nofollow">&#64;Notofworks7</a> has identified a Bullish Bat Harmonic Pattern on JasmyCoin&#39;s chart, suggesting a potential price reversal in the coming days. The pattern is a widely recognized harmonic structure that traders use to predict market movements.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a6417206d4354601842e399e8efd2529.jpeg" />Source: &#64;Notofworks7 (X)Key highlights of the Bat Harmonic setup:<ol><li>XA Leg: The price peaked at the $0.06 level before starting its downward retracement, marking the first leg of the harmonic pattern.</li><li>AB Leg: A correction occurred at the 42.8% Fibonacci retracement level, which aligns with Bat pattern requirements.</li><li>BC Leg: The price bounced off the 75.4% Fibonacci level, maintaining structural integrity for the harmonic.</li><li>CD Leg: The final retracement is approaching the 88.2% Fibonacci level, marked at approximately $0.032, which is considered the critical &#34;D&#34; point for a bullish reversal.</li></ol>The Bat Harmonic pattern indicates that if the price bounces back from the &#34;C&#34; zone, which could drop to as low as 0.886 (just below 3 cents), it might trigger a bullish reversal, potentially driving JasmyCoin to $0.06 or higher.<h3 id="strong-bullish-sentiment-ahead-strong">Bullish Sentiment Ahead?</h3>While the pattern indicates a bullish setup, it depends on the price holding above the identified support zone and broader market recovery. If successful, JasmyCoin could see a significant rally, especially as its previous rally momentum remains fresh in traders&#39; minds.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/analysts-highlight-xrps-current-setup-reflecting-2017-rally-major-gains-ahead/" rel="noopener noreferrer nofollow">Analysts Highlight XRP&#39;s Current Setup Reflecting 2017 Rally—Major Gains Ahead?</a>

Analyst Highlights JasmyCoin ($JASMY) Bat Harmonic Pattern, Indicating Potential Bullish Reversal

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