The post Can It Match Cardano’s 2021 Rally? appeared on BitcoinEthereumNews.com.

JasmyCoin’s 20.92% surge shows strong momentum with increased trading volume. Cardano’s stable price action signals investor confidence despite lower volume. Key support at $0.045 for JASMY, while ADA holds at critical $1.20 support. JasmyCoin (JASMY) has surged 20.92%, echoing Cardano’s (ADA) 2021 rally. This has led investors to speculate whether JASMY could repeat ADA’s success. Despite differences in market conditions and each coin’s unique trajectory, there are striking similarities in their short-term momentum. JasmyCoin Shows Strong Momentum JasmyCoin has experienced significant upward movement, driven by strong investor interest and a notable increase in trading volume. This rally has pushed its price from $0.04025 to $0.04875, signaling strong bullish sentiment.  Additionally, a 40.05% spike in trading volume, now at $1.11 billion, reflects heightened buying interest. The Volume-to-Market-Cap ratio of 46.37% underscores the active trading environment, suggesting a potential for sustained price movement. Key support has emerged at $0.045, a former resistance level. If momentum weakens, secondary support at $0.040 could stabilize the price. On the upside, $0.050 poses immediate resistance. Breaking through could push JASMY towards $0.055, supported by historical trading ranges. Cardano Maintains Stability In contrast, Cardano is charting a stable course. Priced at $1.22, it has gained a modest 1.29% in the past day, with a reduced trading volume of $3.37 billion. Despite this, ADA’s market cap rose to $42.80 billion, signaling investor confidence. The lower Volume-to-Market-Cap ratio of 7.87% suggests a quieter market. Read also: Bear Market Bites: JASMY and ADA Plunge, Technicals Flash Red Cardano’s key support is at $1.20. A drop below could see the coin testing $1.15. On the upside, $1.25 is immediate resistance. A breakout here could drive the price to $1.30. Technical Indicators and Outlook For JasmyCoin, the 1-hour RSI at 65.14 indicates a neutral zone but hints at upward momentum. The MACD…

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Filed under: News - @ December 5, 2024 7:18 pm