Jasmycoin (JASMY) Forms A Prospective Key Harmonic Pattern– What To Anticipate Ahead?
09:40 AM GMT he cryptocurrency market experienced a sharp pullback over the week, dragging significant tokens into the red. Bitcoin (BTC) briefly dropped to listed below $104K, while Ethereum (ETH) slipped below $2,500, down from current highs of $111K and $2,700 respectively.
While the short-term outlook might seem unstable, technical analysis suggests a potential bullish setup forming on the chart– one that could spark a fresh turnaround in the coming days.
Source: Coinmarketcap
Bullish Butterfly Harmonic Pattern
On the 4-hour chart, JASMY’s price movement is lining up carefully with a book Bullish Butterfly Harmonic Pattern, a well-regarded structure understood for forecasting turnarounds following deep corrections.
The pattern starts with the XA leg, which stretched from $0.0144 to a peak of $0.0212, marking a strong bullish impulse. The completion of this leg would open up the possibility for a pattern turnaround, supplied bullish confirmation appears at or near this zone.
At present, the market price is still about 15% above the predicted D point, suggesting the pattern is not yet total. If JASMY does move into this zone and shows signs of support, such as increased purchasing volume or bullish candlestick patterns, it could signal the beginning of a new upward move.
What To Anticipate Ahead?
If JASMY reaches the $0.01259 reversal zone and holds, it may begin a recovery rally.
