$JASMY

#JASMY on bearish zone๐Ÿ”ป๐Ÿ”ป

Step 1: Identify the Trend

The chart shows a downward trend in the price of JASMY/USDT over the past 24 hours, with a decrease of 6.01%. The price has also decreased over the past 7 days (-10.49%), 30 days (-21.29%), 90 days (14.99%), 180 days (-65.00%), and 1 year (-57.87%).

Step 2: Analyze the Moving Averages

The moving averages (MA) are used to smooth out price fluctuations and identify trends. The chart shows three moving averages: MA(7), MA(25), and MA(99). The MA(7) is currently at 0.01207, MA(25) is at 0.01228, and MA(99) is at 0.01264. Since the short-term MA(7) is below the long-term MA(99), it indicates a bearish trend.

Step 3: Check the Relative Strength Index (RSI)*

The RSI is a momentum indicator that measures the magnitude of recent price changes to determine overbought or oversold conditions. Although the RSI value is not explicitly shown in the image, we can infer its position based on the chart's behavior. Given the downward trend and the fact that the price is below the MA(25) and MA(99), it is likely that the RSI is below 50, indicating a bearish momentum.

Conclusion

Based on the analysis of the chart, moving averages, and the likely position of the RSI, the momentum signal for JASMY/USDT is *bearish*. This suggests that the price may continue to decline in the short term. However, please note that technical analysis is not a foolproof method, and other factors such as market news, events, and fundamental analysis should also be considered before making any investment decisions.#INDIANstock