Key Takeaways
Jasmy (JASMY) has broken out of a prolonged descending wedge pattern, sparking renewed bullish interest.
The price surged impulsively after forming a bottom near $0.0089, indicating a potential trend reversal.
With Elliott Wave and Fibonacci tools applied across higher and lower time frames, the current structure appears to be in a corrective pullback before another potential leg up.
This analysis evaluates the macro breakout and zooms into the microstructure to forecast the next movement.
JASMY Price Analysis
After months of corrective decline within a WXY pattern, JASMY finally found support at the $0.0089 low on April 7, completing wave (Y).
The breakout from the falling wedge is supported by strong bullish momentum and a sharp rally of 114%, which briefly pushed the RSI into overbought territory.
The price is currently retesting the green supply zone around $0.016–$0.018, which served as significant resistance in January and February.
Fibonacci retracement from the previous high of $0.059 shows that the 0.236 level at $0.02078 is acting as near-term resistance.
This coincides with the top of the supply zone, where the current rally has stalled.
A successful retest of the breakout zone could signal further bullish continuation, potentially toward the 0.382 ($0.02812) or 0.5 ($0.03405) Fibonacci levels.
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The Relative Strength Index (RSI) pullback from overbought conditions suggests a healthy cooling-off, giving bulls room to build momentum again.
So long as JASMY holds above $0.013, the macrostructure remains bullish.
JASMY Price Prediction
The lower time frame chart reveals a developing five-wave Elliott structure, with wave (iii) topping near $0.0176 and wave (iv) now underway.
Fibonacci retracement is drawn from wave (ii) to wave (iii) suggests that the correction may find support at the 0.382 ($0.0141) or the 0.5 ($0.0130) level.
These areas align with past price consolidation and offer strong bounce potential.
Assuming wave (iv) completes in this region, the next impulsive wave (v) could target the 0.02078 level—the key resistance from the higher time frame and a potential completion point for wave (v).
This zone also matches with the upper boundary of the supply zone, indicating confluence.
RSI on the 1H chart is neutralizing, moving away from overbought conditions, and possibly setting the stage for a fresh move-up.
However, if price falls below the 0.618 retracement at $0.0119, the bullish impulsive count will be invalidated, indicating a deeper correction.
Given the strong structure and momentum, a brief consolidation followed by continuation toward $0.0207 is favored.
Key Levels to Watch
- Major Support: $0.01301 (0.5 Fib), $0.01192 (0.618 Fib), $0.01036 (0.786 Fib).
- Immediate Resistance: $0.01764 (Wave iii top), $0.02078 (Fib 0.236 macro).
- Breakout Confirmation: Above $0.02078 with volume.
- Invalidation Level: Below $0.0119.
- Fractal Watch Zone: $0.0207–$0.021 – supply zone top and Fib confluence.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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