Why Jasmy Faces A Bearish Outlook & How It Can Flip Bullish!

JASMY Update — Why Jasmy Faces A Bearish Outlook, 0.027 Must Hold, And How It Can Flip Bullish!

In this post, we examine JASMY using the Ichimoku system. We discuss crucial areas, the challenges JASMY faces, and what needs to happen for it to continue being bullish. Let's get into it!

1️⃣ Just recently, JASMY flashed a bearish Tenkan/Kijun crossover (1). Such a crossover usually indicates the beginning of a bearish trend. However, it is worth mentioning that a bearish crossover above the cloud is considered a weak signal.

2️⃣ In addition to the above, the future cloud (2) has turned red. This is an additional signal that JASMY faces a bearish momentum.

3️⃣ Currently, JASMY is trying to stay above Span B (bottom line of the cloud, 3). This line often acts as strong support.

Possible Scenarios 👇

The most important level to watch is whether the price bounces off the support line or breaks out of the cloud to the bottom.

🔻A breakout to the bottom would flash a third bearish signal and massively increase the likeliness of further downward potential. In this case, the next support lies at 0.021.

🟢 A bounce of the current support must be followed by a cloud breakout to the top. A close above the cloud, followed by a reverse crossover of the Tenkan/Kijun above the cloud, would indicate strong bullish momentum, and JASMY should catapult to a level >0.03 quickly.