How to Earn in a Market Downturn – Short-Term Potential of JasmyCoin (JASMY) and Ethena (ENA) Revealed

Investing during a market slump can be daunting. However, certain cryptocurrencies show promise even in these tough times. This article delves into the short-term prospects of JasmyCoin and Ethena, revealing intriguing opportunities for potential gains. Discover the coins that might be poised for growth despite market challenges, promising to captivate even the most cautious investor.

JasmyCoin Faces Decline with Key Support Zones for a Potential Reversal

JasmyCoin experienced a marked decline, with a one-month drop of about 23% and a six-month loss nearing 44%. The price range settled between $0.007 and $0.0175. A weekly loss of roughly 7% underscores consistent downward pressure. Past performance reflects continuous bearish action without strong counter moves.

Current price action shows immediate support near $0.0034 and resistance around $0.0244, with a secondary resistance at $0.0349. Bearish signals dominate as the RSI lingers below 40 and other momentum indicators remain weak. Traders may watch for a break above resistance to hint at a possible reversal, but caution is advised within these clear levels.

Ethena Shows Sharp Drops Amid Hints of Long-Term Recovery

Over the past month, Ethena dropped around 34.55% with a weekly decline close to 25.37%. The six-month trend indicates a modest increase of 1.27%. This price history shows significant short-term weakness, alongside a slight recovery over a longer period. Volatility plays a major role as the coin fluctuates between quick drops and slow rebounds.

Currently, the price trades between approximately $0.29 and $0.44. Immediate resistance is identified at $0.53, while support is around $0.24. A secondary resistance level exists at $0.68, with lower support near $0.09. Bearish momentum is prevalent, indicated by negative moving averages and oscillator readings. Traders may consider buying near support and seeking profit as prices approach resistance, noting the absence of a clear trend.

Conclusion

JASMY offers short-term gains due to its strong community and recent technological updates. ENA shows promise with its unique approach in the crypto space. Both coins provide opportunities to earn even during a market downturn. They present potential for traders looking for quick returns.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.