JasmyCoin (JASMY) Price Analysis: Firmly in the "overbought" zone, with signs of a short-term pullback or consolidation emerging.

JasmyCoin (JASMY) followed the market correction, reporting at 0.01559 USD during the Asian early trading session today (15). Nevertheless, JASMY has still gained over 30% in pump over the past seven days, attracting the attention of many traders seeking the next breakout altcoin. After several weeks of sluggishness, the Token has suddenly come to life, and this surge may signal the start of a new trend.

From the chart, it can be seen that the price of JASMY formed a double bottom around 0.011 USD at the beginning of this month. After multiple retests in June and early July, this area became a strong support level. Subsequently, the price soared, breaking through the key resistance level of around 0.016 USD, but then the price temporarily paused, following the overall market.

RSI firmly remains in the "overbought" zone

It is worth noting that the Relative Strength Index (RSI) is currently around 78, firmly in the overbought territory. This often indicates the possibility of a short-term pullback or consolidation. However, what makes this surge even more noteworthy is that the trading volume has increased alongside the price. This suggests that this is not merely a surge caused by a lack of liquidity, but there is genuine demand behind it.

Resistance level: The next major breakthrough zone is between $0.0185 and $0.0190. This area has previously acted as a ceiling; if it can be reclaimed, it may open a bullish channel towards $0.0215 and even $0.0230, both of which are the peak volatility points earlier this year.

Support Level: If JASMY cools down, the key levels that need to be defended are $0.0160 (recent breakout zone) and $0.0145 (the neckline of the double bottom in July).

(Source: Trading View)

What is JASMY's next plan?

Despite the current 14% pump being steady, it still lags behind some other altcoin sectors, such as HBAR, ALGO, and XLM, which have seen gains ranging from 50% to 90% in recent days.

However, JASMY is currently on a strong momentum—and as the price breaks through the long-term consolidation range, it may welcome a larger pump.

If the bulls successfully push the Token above the 200-day moving average and maintain it, market sentiment may quickly shift. Currently, traders are closely watching whether the recent surge is a temporary pump or the beginning of a larger rally.