based on materials from the site - By CoinoMedia
JASMY, a popular altcoin in the crypto space, is gaining momentum again. Over the past 48 hours, the coin experienced a sharp rise of 30%, attracting the attention of traders and analysts. This is the first significant movement since the March rally.
This movement is even more significant as the relative strength index (RSI) on the daily chart has crossed the 60 mark. This technical signal is often regarded as a key indicator of increasing bullish momentum, especially after a prolonged period of consolidation or decline.
Why does an RSI above 60 matter? RSI is a momentum indicator with a range of values from 0 to 100. When RSI rises above 60, it indicates increased buying pressure and a potential trend reversal. JASMY has surpassed this threshold for the first time since March. At that time, the breakout led to substantial growth.
Now that RSI has once again breached the 60 mark after a significant price increase, market analysts are pondering whether history will repeat itself. If buying pressure persists, we may see a retest of previous JASMY highs in the coming days or weeks.
Although it is still early to talk about a full-scale upward trend, the current momentum looks promising. Sustained RSI holding above 60 combined with increasing volume may indicate a new growth phase for the token. Traders are advised to monitor support and resistance levels, as well as any fundamental news that could further boost investor sentiment.
At this point, technical indicators suggest that JASMY may be awakening from its slumber, and the market is closely watching this.
