JASMY eyes 84% rally—But THIS group could stand in its way – BitRss

• JASMY has breached a month-long consolidation channel and could rally as high as $0.05.
• Weekly profit-taking could slow the price rally; however, technical indicators show a possibility for a higher move.

In the past 24 hours, JasmyCoin [JASMY] has seen a massive price rally, gaining 26%, with its volume reaching $525.23 million—a 440% increase. The coin was trading at $0.034, at press time.

According to AMBCrypto’s analysis, there’s room for more growth in the market; however, certain hindrances could delay JASMY’s potential rally.

Can the upward move be maintained?

JASMY recently broke out of a descending channel formed by lower highs and lows within defined support and resistance. Such breakouts typically indicate a rally move.

This channel had been forming since the 4th of December 2024, suggesting likely accumulation of JASMY at a lower level.

Currently, it is retesting the resistance level of this channel. If this level flips to support, JASMY could rally 84.79% to $0.059, last reached on the 5th of December 2024.