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Tag: 50day

  • JasmyCoin (JASMY/USD) attempts breakout at 50-day MA

    JasmyCoin (JASMY/USD) attempts breakout at 50-day MA

    • JasmyCoin has recovered by double digits in a week

    • The token has hit a descending trendline 

    • JASMY could correct in line with the longer-term bearish momentum

    JasmyCoin (JASMY/USD) saw rising trading volumes on Friday amid a mixed cryptocurrencies trading. The token, ranked lowly at #543 on CoinMarketCap, has witnessed a 13% surge in the past week. The weekly gains now take bulls to an important level that would determine if investors will see further gains.

    JASMY is the native token of the Internet of Things’ Tokyo-based firm Jasmy Corporation. The company enables the buying and selling of data by connecting service providers and users. From the decentralisation perspective, the Jasmy platform allows users complete control of their personal information. This is enabled by enabling IoT through blockchain technology. In short, Jasmy aims to provide a platform where users can freely, easily, and safely move data. 

    JASMY saw increased interest in 2021 at the height of the crypto boom. It has since crashed and trades at just $0.004. The price compares to a high of $0.35 in November 2021 – a significantly depressed price level. With the renewed gains, how far can this token go?

    JASMY meets resistance at the descending trendline

    JASMY Chart by TradingView

    The technical outlook shows that JASMY has met resistance at the descending trendline and 50-day MA. Since August, JASMY has always been rejected at the descending trendline. Although bulls are attempting a break above the 50-day MA, they are under bear pressure. 

    The MACD indicator shows improving momentum for JASMY. Nonetheless, we see that the token has always corrected anytime the MACD has approached the neutral level since August.

    What next for JASMY?

    The bear momentum is in place for JasmyCoin despite the weekly recoveries. To buy the cryptocurrency, wait for the price to break above the descending trendline or the 50-day MA. 

    The bullish expectation could be invalidated if the past price action of the cryptocurrency repeats itself. Bulls should keep off for now until the cryptocurrencies sentiment improves.

    Where to buy JASMY

    KuCoin

    Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies.

    Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods.

    Users can benefit from a beginner-friendly interface and relatively low fees.


    Buy JASMY with KuCoin today

    Swapzone

    Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.


    Buy JASMY with Swapzone today

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  • Solana (SOL/USD) clears above the 50-day MA

    Solana (SOL/USD) clears above the 50-day MA

    Solana (SOL/USD) jumped to a 2-month high of $38.7 over the weekend. The strong recovery happened after Google Cloud announced it had become a Solana validator.  

    Google Cloud further said it would continue working with the Layer-1 blockchain. The partnership will see the introduction of Blockchain Node Engine to the blockchain in 2023. Solana is now expected to become the payment service for Google Cloud services.

    Aside from the recent developments, Solana has witnessed increased growth. In late September, the total transactions on the blockchain rose past the hundred billion mark for the first time. Of course, that comes when Solana enthusiasts continue to express concern over the frequent network outages. The increasing adoption means investors see real use cases for the proclaimed Ethereum killer.

    Elsewhere, a pseudonymous crypto analyst Cantering Clark is too optimistic about SOL recovery. In a note to his 149,500 Twitter followers, Clerk says SOL is forming a multi-month base. He posits that the cryptocurrency is taking out a diagonal resistance and is consistently getting a green light.

    Aside from the positive fundamentals, technical indicators show SOL attempting to break a key level.

    SOL rejected at $37, another attempt for buyers to push higher?

    Source – TradingView

    Technically, SOL was rejected at the $37.6 resistance zone. The token attempted a breakout after a strong rally over the weekend. The jump helped the cryptocurrency to recover above the 50-day MA for the first time since mid-August.

    The MACD indicator shows a bullish momentum for SOL. However, the momentum has slightly weakened after a 10% SOL price drop on Monday.

    Will SOL go higher?

    The $37.6 is the key litmus test for SOL. There is already an indication that buyers are rejecting a price drop below the 50-day MA. Should buyers remain resilient, we vouch for SOL’s break above $37.6. That will open a buy trade and set it for a price increase to $42 and the main resistance at $47.

    Another price rejection at $37.6 could see buyers wait longer for SOL to go higher. If the price breaks below the moving averages, a bear market could continue for SOL.

    Where to buy SOL

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy SOL with eToro today

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy SOL with Binance today

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