February 21, 2025
Veteran financial trader Matthew Dixon, in his recent Twitter tweet, has shared an early-stage analysis of Jasmy Coin (JASMY), suggesting that the asset may be in the initial phase of a potential Elliott Wave recovery.
Dixon notes that the recent impulse move higher lacks clarity, which is expected following a steep decline. He explains that the buyer sentiment remains mixed, with some hesitant sellers still in the market—characteristic of an early Wave 1 formation in Elliott Wave theory.
The accompanying price chart shared by him from TradingView highlights a possible bottoming formation with a sharp upward projection marked, indicating a potential Wave 3 move if momentum builds.
Dixon warns that once an aggressive rally kicks in, latecomers may miss out on the opportunity.
Market Sentiment and Outlook
- Current Price Action: Jasmy is consolidating near a recent support zone, suggesting a potential reversal.
- RSI Indicator: Shows a slight uptick, indicating a shift in momentum.
- Key Resistance Levels: A move above $0.026 could validate a stronger upside trend.
While the market remains uncertain, traders and investors watching JASMY may look for further confirmation of bullish momentum before taking positions.
Also Read: Can Jasmy Coin (JASMY) Reach $1?