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The price of JasmyCoin arose more than 52% in the last 24 hours to trade at $0.01792 at 2:20 am EST as investors rush to buy an altcoin that has soared almost 190% in the last week..
JasmyCoin price rises above its positive channel
4-hour chart for JASMY/USDT (Source: TradingView)
He JasmyCoin The price managed to break out of a positive medium-term price channel that formed on its 4-hour chart over the past few days. During this period, the crypto recorded a series of higher highs and higher lows. If JASMY continues to rise above the bullish channel in the next 24 hours, it may try to break above the resistance level of $0.017940.
This bullish thesis could be invalidated if JasmyCoin price falls to the $0.01430 support level in the next 24 hours. In this alternative scenario, the altcoin may retest the key price. Falling below the mark could expose it to a rise or correction towards the $0.011985 support in the coming days.
This will be a key level to watch, as it also meets the lower limit of the aforementioned price channel. As such, a break below the $0.011985 support could signal the end of JASMY's positive cycle, which could lead to JasmyCoin price plummeting towards the $0.008640 support in the near term.
JasmyCoin price may correct as its uptrend reaches a peak
Technical indicators on JASMY price suggest that the crypto may fall in the next 24 to 48 hours. The Relative Strength Index (RSI) indicator shows that the bulls are losing some of their strength to the sellers. This is evident when the RSI line falls towards its simple moving average (SMA) line, which occurs after a period where the token is in overbought territory. An intersection between these two lines will trigger a major bearish technical flag, indicating that momentum has shifted in favor of sellers.
The Moving Average Convergence Divergence (MACD) indicator also supports a short-term bearish outlook. JASMY The uptrend appears to have reached a peak as the MACD line begins to break down towards the MACD signal line. This may be an early sign of an upcoming bearish trend reversal, which could be confirmed when the MACD line crosses below the MACD signal line.
As JasmyCoin price attempts to break another major resistance, bitcoin Minetrix It recently surpassed the $11.2 million threshold with its pre-sale.
Exciting news for crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto Mining industry! #PolarisTechnology unveils plans for $100 million, 200 MW data center in Muskogee, Oklahoma.
What opportunities do you think this development will bring to the local community?#BitcoinMinetrix has successfully raised more… pic.twitter.com/m6jQ29WJ1D
—Bitcoinminetrix (@bitcoinminetrix) February 20, 2024
bitcoin cloud mining with a twist
bitcoin cloud mining typically involves a buyer purchasing cloud mining power from a centralized third party who agrees to manage the operations of multiple btc mining rigs for an agreed-upon service fee. This has opened an opportunity for scammers to sell fake mining power and is why bitcoin Minetrix is trying to change the status quo.
Through its innovative cloud mining platform, bitcoin Minetrix not only makes btc cloud mining more secure through decentralization, but also removes the highest barrier to entry for anyone who wants to get started. cloud mining. Its unique staking-to-mine model also makes btc cloud mining as simple as staking an ERC-20 token.
Exploring the potentials of #BitcoinMinetrix for $btc mining!
Easy initiation for beginners.
Cost effective with no initial hardware costs.
Are you worried about location, noise and temperature? None here!
Effortless updates with minimal effort. pic.twitter.com/k7TDNfSlVd—Bitcoinminetrix (@bitcoinminetrix) February 21, 2024
To get started, investors will need to purchase BTCMTX on the project's official website. BTCMTX, which is currently selling for $0.0136, can be purchased using ether (eth), Tether (USDT), or bank card. Once purchased, the tokens will need to be staked in exchange for “gas” reward tokens. The last step in the process is to burn these gas rewards to claim a portion of bitcoin Minetrix's cloud mining power.
The next 10x opportunity?
btc is expected to rise in the coming months given the introduction of spot bitcoin ETFs (exchange-traded funds) in the US, as the leading crypto enters the mainstream financial system.
Also pending is the supply shock that will begin with the next halving event in April. These factors will create a favorable supply and demand dynamic for btc that will likely drive its price up.
bitcoin Minetrix, being both a bitcoin derivative and a cloud mining project, is perfectly positioned to benefit from the increase in demand for btc and its simultaneous reduction in supply..
BTCMTX can be purchased here.
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