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JasmyCoin’s 20.92% increase shows strong momentum with increased trade volume.
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Cardano’s stable price action signals investor confidence despite lower volume.
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JASMY receives critical support at $0.045, while ADA maintains its $1.20 support.
JasmyCoin’s (JASMY), which is a cryptocurrency, has seen a surge of 20.92%, which is similar to the 2021 rally of Cardano (ADA). Investors have speculated whether JASMY can repeat ADA’s success. Despite the differences in market conditions, each coin’s unique trajectory and their different short-term momentum, they are strikingly similar.
JasmyCoin shows strong momentum
JasmyCoin’s price has seen a significant increase, driven by a strong investor interest. The trading volume has also increased. This rally has pushed the price of JasmyCoin from $0.04025 up to $0.04875, signaling a strong bullish sentiment.
A 40.05 % increase in trading volume (now at $1.11 billion) reflects increased buying interest. The volume-to-market-cap ratio of 46.37 % indicates a very active trading environment. This could lead to a sustained price movement.
The former resistance level of $0.045 has become a key support. If momentum waned, secondary support at $040 could stabilize price.
On the upside, $0.050 is a strong resistance. Breaking through could push JASMY to $0.055, supported historically by trading ranges.
Cardano Maintains Stability
Cardano, on the other hand, is following a steady course. It is currently priced at $1.22 and has gained a modest 1.2% in the last day. The trading volume was reduced to $3.37 billion. ADA’s stock market cap has risen to $42.80billion, indicating investor confidence. The lower Volume-to Market-Cap ratio of 7.87% indicates a quieter market.
Read Also: Bear Market Bites – JASMY and ADA Fall, Technicals Flash red
Cardano’s main support is $1.20. Cardano’s key support is $1.20. On the upside, $1.25 is an immediate resistance. A break here could push the price up to $1.30.
Technical Indicators & Outlook
The 1-hour RSI of 65.14 for JasmyCoin indicates a neutral area but hints upward momentum. This bullish outlook is supported by the MACD trading above the signal line. For further gains, it is important to maintain trading volume.
Cardano’s RSI of 54.48 indicates balance, whereas the MACD above signal line suggests a mild bullish trend. A lack of volume could however limit ADA’s growth in the short term.
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