- Analyst maintains $4.47842 breakout target for JasmyCoin price.
- JASMY previously surged nearly 1700 percent after wedge breakout.
- JasmyChain Mainnet launch followed by fresh higher lows formation.
JasmyCoin is back in focus after a crypto analyst reaffirmed a long-term breakout target of $4.47842. The update follows recent price structure developments and the JasmyChain Mainnet release. Market participants are now watching whether the technical setup continues to hold.
Crypto analyst JAVON MARKS stated that JASMY continues to trade above a previously broken major resistance trend. He said this structure signals sustained macro momentum on higher timeframes.
Breakout Structure and Historical Rally
According to Marks, JasmyCoin formed higher lows before breaking out of a falling wedge pattern in October 2023. That breakout led to a price surge of nearly 1,700%, or about 18 times its value. The move followed months of compression within the wedge formation.
He noted that price has continued to respect the prior resistance trend after the breakout. Holding above this level suggests that the previous resistance has flipped into support. Marks maintains that this structure remains intact on the macro chart.
The analyst reaffirmed his larger breakout target at $4.47842. He has referenced this level in prior analyses. The target is based on measured move projections from the wedge breakout pattern.
JasmyChain Mainnet and New Higher Lows
Following the JasmyChain Mainnet release, JASMY has printed additional higher lows. The chart also shows another wedge breakout pattern forming after the recent consolidation phase. Marks stated that this alignment strengthens the bullish case.
He suggested that the current setup could trigger another strong rally. In his view, the structure resembles the conditions seen before the prior 18X move. He added that prices continue to show strength above key technical levels.
JasmyCoin price action now reflects both technical breakout patterns and recent network developments. Traders continue to monitor whether the token sustains higher lows and maintains support above the former resistance trend.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
