The three major rising coins show 'diverging' trends... JasmyCoin continues to be strong, while ATOM and TAO are in a correction phase

Three cryptocurrencies gaining attention in the recent crypto market are showing different trends. JasmyCoin(JASMY) maintains strong upward momentum, threatening psychological resistance levels, while Cosmos(ATOM) and Bittensor(TAO) have entered a correction phase after consecutive rises, with profit-taking volumes emerging.

JASMY, Approaching $0.01000 Breakthrough… Will the Uptrend Continue After Passing the Psychological Barrier?

JasmyCoin is currently trading around $0.00950, continuing the momentum from a 27% surge yesterday. The market has set the first target at recovering to $0.01000, supported by a strong indicator of six consecutive days of gains.

Technically, the 200-day EMA( $0.01105) is expected to serve as the next major resistance. If this level is surpassed, a rise to $0.01361 is possible, which was the last significant price tested on October 3.

However, it is noteworthy that the daily RSI has risen to 79, indicating overbought conditions. While bullish momentum remains strong, questions arise about whether buying pressure can sustain. The MACD histogram is expanding in green, supporting the upward trend, but it’s important to remember that prolonged overbought conditions are unsustainable.

If selling pressure around $0.01000 intensifies, a retracement to the November 4 low of $0.00779 is possible, implying about a 22% correction.

ATOM, End of 6-Day Rebound and Entering Correction… 50-day EMA as Key Support

Cosmos experienced a 2% decline on Wednesday, ending a six-day upward streak. The current price has fallen to around $2.346, with the 50-day EMA( $2.321) just below acting as a critical support level.

Momentum indicators show mixed signals. RSI has turned downward from the overbought threshold at 66, suggesting weakening buying strength. However, the MACD and signal line still indicate an ongoing upward trend, making an immediate trend reversal unlikely.

If the rebound resumes, the recent high of $2.856(October 11) is expected to act as a short-term resistance. A rebound to this level is quite feasible, but further gains would require additional momentum.

TAO, Failed to Break the $300 Barrier… Further Decline Possible if Falling Below $260

Bittensor rose 10% on Tuesday but failed to break the psychological resistance at $300. On Wednesday, it declined over 3%, continuing a correction phase, with the price trending downward toward the 50-day EMA( $271).

The key at the current level of around $284 is whether the support at $260 can hold. If this level is broken, the next target could extend down to the December 24 low of $206, implying an additional decline of about 28%, which warrants caution.

Technical indicators also show mixed momentum signals. RSI has turned downward from 62, but the MACD and signal line remain bullish, indicating that the correction might be temporary. If the correction ends and a rebound occurs, retesting $300 is quite possible, but resistance could re-emerge near $312(December 12 test level).

Points Market Participants Should Watch

The overbought signals of JASMY and the correction trend in ATOM and TAO suggest that overall market momentum is weakening. Attention should be paid to the potential for a larger correction cycle rather than just technical strength of individual coins.

In particular, resistance at around $300 for TAO can be interpreted as a sign of large sell orders waiting. Meanwhile, the sharp rise in JASMY indicates a risk of overextension, and a correction could lead to significant drops, which should not be overlooked.

In the short term, the key criterion will be whether each coin can defend its support levels.