JasmyCoin has been down by 12% from its highest price three days ago, but analyst Crypto Patel thinks the worst is yet to happen. The current JASMY price on Binance is around $0.01278, and the latest 4-hour chart from Crypto Patel points to a bearish outlook for the token.
According to Crypto Patel, the price of JasmyCoin was recently rejected from a key area known as the Fair Value Gap (FVG), located near the previous week’s high at around $0.01393. This rejection indicates that the bulls could not push JASMY price beyond this important resistance zone, which has now become a major point of weakness for the coin.
Crypto Patel’s chart shows the price struggling below this resistance, failing to regain strength after the liquidity was swept. This means large buyers or sellers triggered moves that cleared out stop losses above the highs, but instead of a continued move up, JASMY price turned sharply downward.
@CryptoPatel / X Analyst’s Target: How Low Could JASMY Go?
The chart outlines Crypto Patel’s bearish scenario clearly. The orange line predicts a downward path that could take the JasmyCoin price down to the previous week’s low around $0.01024. This level serves as Crypto Patel’s main downside target if the bearish trend continues. The analyst also pointed out a stop loss level near $0.01420, which is just above the resistance area, highlighting where the bearish view would be invalidated if price moves higher instead.
In addition to the $0.01024 target, Crypto Patel noted a more aggressive downside possibility near $0.008, suggesting that if momentum turns strongly negative, JASMY price could sink even lower.
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Looking at the chart posted by Crypto Patel, the current price is hovering just below $0.01280 and forming a lower high pattern, which is a classic sign of continued bearish momentum. The marked CISD area on the chart shows a point of decision where the price could either attempt a minor bounce or continue downward sharply. Crypto Patel believes the latter is more likely given the recent rejection from the FVG.
Overall, the JasmyCoin price outlook remains pressured as long as the price stays below the $0.01393 resistance. Crypto Patel’s clean short setup points to a solid risk-to-reward opportunity for bears targeting a drop to the $0.01024 level or possibly lower.
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The post Analyst Sees JasmyCoin Price Sliding Lower: How Bad Could It Get? appeared first on CaptainAltcoin.
