• JasmyCoin’s cup and handle pattern indicates potential for a significant price breakout.
• The $0.0439 resistance level is critical for confirming bullish momentum.
• Gradual price movements often lay the foundation for sustainable market trends.

JasmyCoin (JASMY) has received considerable attention in the chart regarding the trading platforms in recent periods. When a cup and handle model is formed it is considered that the bull phase may be arising and that is why many people focus on the further price movement of this coin. While traders observe the $0.0439 price range they keenly wait for a breakout and patience is evident amongst all.

The Handle and Cup Formation Defined

This formation corresponds to the cup and handles technical analysis chart patterns which is usually an ominous signal for an upward movement. It is observed that the chart is gently rounding up for the cup, and then goes a little sideways as the handle indicates increasing market confidence in, for instance, JasmyCoin. If like this, the forecasted target could reach $0.649 putting JasmyCoin at significantly higher rates than at current times.

Patience is the key according to the JasmyCoin chart, when it comes to trading. Although the current picture may seem to be sluggish, such a rate of price movement is often crucial for constructing a profound support.

Spotting the Breakout Zone

The $0.0439 level has emerged as a critical resistance level in traders’ view. Any bar that emerges above this level could signal the next level of the rally confirming the bull formation. This would be in line with the technical indication of the cup and handle formation, which should experience a breakout that may well attract new buyers.

The bullish signals given by JasmyCoin have to do with the general tendencies observed in the cryptocurrency market. After any turbulent phenomenon that lasts for sometime, most of the assets will experience resting phases that create the platform for the next movements to occur. This pattern shows the volatility of crypto markets as wise in technical analysis in such trends is prominent.

As the market anticipates the next move of JasmyCoin, the concentration then shifts to the $0.0439 support area. Even if this breakout does not occur it is interesting to note that just observing the setup provides some insight into the corrective action needed for traders.

The post JasmyCoin’s Cup and Handle: Why Traders Are Watching $0.649 Closely appeared first on Crypto News Land.

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