JasmyCoin Ready to Explode After Correction? Analyst Sees Huge Breakout Coming
JasmyCoin has recently experienced a considerable downturn, leaving many investors anxious about its future. However, according to Quantum Ascend, a prominent crypto analyst on X, the tide may be about to turn. With a detailed chart analysis, he suggests that the correction phase may be concluding, indicating a potential rebound ahead.
Understanding the Recent Correction
The recent price action for JasmyCoin was characterized by weeks of downward pressure, but Quantum Ascend believes that this correction appears to be over. His analysis utilizes the Elliott Wave theory and indicates that the correction followed an A-B-C structure, a common pattern in the world of cryptocurrencies. Notably, the final C wave ended precisely at the 0.618 Fibonacci retracement level. This is an essential marker for traders, often signaling a potential shift in price direction.
In quantum’s breakdown, he highlights that the C wave completed five smaller subwaves. This setup is often viewed as a telltale sign of the end of a correction phase, setting the stage for potential upward movement.
Chart by @quantum_ascend on X
Key Resistance Levels to Watch
As Quantum Ascend elaborates further, he points to a critical resistance zone currently sitting between $0.018 and $0.020. If JasmyCoin manages to break past this level, he anticipates that a new bullish cycle could emerge. This makes the upcoming weeks essential for traders monitoring Jasmy’s price trajectory. With Quantum’s conviction—as he currently holds 25% of his portfolio in JasmyCoin—it’s clear he expects a robust performance from this digital asset.
Broader Market Sentiment: A Bullish Outlook
While immediate forecasts focus on resistance levels around $0.018 to $0.020, another analyst, Run My Crypto, provides an even more optimistic long-term perspective. His predictions suggest that JasmyCoin could achieve gains between 40x and 80x from current levels. This ambitious forecast is based on his belief that the broader cryptocurrency market could potentially reach a valuation of $5 trillion during the next bullish cycle.
Run My Crypto noted the significant amount of retail money still sitting on the sidelines, with about $1 trillion yet to enter the market. The anticipation of retail investors entering could trigger a fear of missing out (FOMO) that might propel secondary cryptocurrencies like JasmyCoin into significant price rallies, particularly during the anticipated alt-season.
Current Price Status and Future Potential
At present, JasmyCoin’s price remains relatively low compared to its previous heights. Despite this, the mixture of bullish technical indicators and analyst sentiments points toward a significant potential price increase. If Jasmy can establish support above $0.020, it will validate the end of the current correction and open the floodgates for more substantial price gains.
Between the strong Fibonacci support lines, a positively inclined wave structure, and a burgeoning sense of optimism in the market, many analysts are keeping a close watch as JasmyCoin positions itself for a potential upward move.
The following weeks are critical: breaking through the noted resistance could lead to scenarios where traders see not just minor gains but potentially something close to the aggressive predictions that both Quantum Ascend and Run My Crypto are making.
For anyone invested or considering an entry point, the upcoming market dynamics will be particularly pivotal. Whether the outcome is a modest 2x increase or something more pronounced, like the predicted 40x, market participants are advised to stay tuned to developments surrounding JasmyCoin.
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