The cryptocurrency market is no stranger to dramatic swings, and JasmyCoin (JASMY) has been no exception. After a steep 82% decline from its cycle high, JASMY appears to be stabilizing near a critical technical support zone. A bullish descending wedge pattern has formed, signaling a potential reversal. With key technical indicators flashing early signs of momentum, traders and investors are asking: Is JASMY poised for a 100% rally?
This article dives into the current price structure, analyzes the technical setup, and explores what could come next for JasmyCoin in the short to medium term.
The Fall and the Formation of a Bullish Pattern
JasmyCoin reached its all-time cycle high at $0.059**, only to retrace sharply, bottoming out near **$0.008 on April 7. That represents an 82% drop — a painful correction for many holders. However, such deep pullbacks often lay the foundation for strong rebounds, especially when supported by constructive price action.
Since the beginning of the year, JASMY has been forming a descending wedge on the daily chart — a pattern historically associated with bullish reversals. This formation occurs when price makes lower highs and lower lows, but at a converging angle, indicating weakening selling pressure. As volume often contracts during this phase, it sets the stage for a breakout.
The current structure suggests that the worst of the downtrend may be behind us. With price now approaching the apex of the wedge, a breakout could occur at any moment. Historically, descending wedges in downtrends lead to upward breakouts, especially when confirmed by momentum indicators.
Technical Indicators Signal Potential Reversal
Two key technical tools are adding weight to the bullish case: the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD).
Both indicators have generated bullish divergences — meaning that while price made new lows, the momentum oscillators failed to do so. This disconnect between price and momentum often precedes trend reversals.
- The RSI formed higher lows while JASMY price carved lower lows.
- The MACD showed decreasing bearish momentum, with histogram bars shrinking and the signal line preparing for a potential bullish crossover.
These signals suggest that sellers are losing control and buyers are beginning to step in. If volume increases on an upward move, it could confirm institutional or whale accumulation.
Elliott Wave Analysis: Is Wave A Complete?
From a longer-term perspective, Elliott Wave Theory offers insight into where JasmyCoin might be in its broader market cycle.
The long-term wave count suggests that JASMY completed a five-wave bullish impulse (labeled in green), with an extended third wave — typical in strong bull runs. Following this advance, the market entered a corrective phase.
Currently, JASMY appears to be in an A-B-C correction (marked in red). The first leg down — Wave A — may have concluded at the $0.008 low. Given the formation of the descending wedge and the recent higher low since April 7, it’s increasingly likely that Wave B has begun.
Wave B corrections often retrace between 38.2% to 78.6% of Wave A. In this case, a full retracement could push JASMY toward $0.021**, with stronger bullish momentum potentially driving it further to **$0.0278–$0.0338, aligning with the 0.382–0.5 Fibonacci retracement levels.
A confirmed breakout above the upper trendline of the descending wedge would strongly support this scenario.
What a Breakout Could Mean for JASMY Price
If JASMY breaks out of the descending wedge with strong volume, it could trigger a swift rally as short-sellers cover positions and new buyers enter.
- Initial resistance: $0.021
- Mid-term target: $0.0278–$0.0338 (Fibonacci zone)
- Upside potential: Over 100% from current levels
Such a move would represent not just technical relief but renewed market confidence in JasmyCoin’s underlying utility and ecosystem development.
It’s important to note that even if Wave B unfolds as expected, it would still be part of a larger correction. After the B wave completes, Wave C — typically another downward leg — could follow. Traders should remain cautious and manage risk accordingly.
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These terms naturally align with what traders and investors are searching for when evaluating mid-cap altcoins like JASMY during volatile market phases.
Frequently Asked Questions (FAQ)
Q: What is a descending wedge pattern?
A: A descending wedge is a bullish reversal pattern characterized by converging trendlines as price makes lower highs and lower lows. It often precedes an upward breakout, especially after a prolonged downtrend.
Q: Has JASMY completed its downtrend?
A: While the downtrend may not be fully over, the first major leg (Wave A) appears complete. The current phase likely represents a corrective bounce (Wave B), with another drop (Wave C) possible later.
Q: What is the short-term price target for JASMY?
A: If the descending wedge breaks upward, initial resistance lies at $0.021. A stronger rally could push JASMY toward $0.0278–$0.0338, representing over 100% upside from recent lows.
Q: How reliable are bullish divergences on RSI and MACD?
A: While not foolproof, bullish divergences are strong early warning signs of trend reversals, especially when confirmed by price action and volume.
Q: Can JASMY reach $0.10 in 2025?
A: Reaching $0.10 would require sustained bullish momentum beyond the current correction. While possible in a broad market recovery, it remains speculative without fundamental catalysts.
Q: Where can I track JASMY price action in real time?
A: Use advanced charting platforms that support technical indicators and multi-timeframe analysis to monitor JASMY’s breakout potential.
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Final Thoughts
JasmyCoin has endured a brutal correction, falling 82% from its peak. Yet within this decline lies a constructive technical setup — a descending wedge supported by bullish divergences in RSI and MACD. Combined with Elliott Wave analysis suggesting the start of a corrective bounce (Wave B), the stage may be set for a significant rally.
While risks remain — particularly the likelihood of a future Wave C drop — the current structure offers a compelling risk-reward opportunity for traders who time their entries carefully.
As always, conduct your own research, use stop-loss strategies, and never invest more than you can afford to lose. The crypto market rewards patience and discipline — especially during moments of transition like this one.
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.