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JasmyCoin price has been on an upward trajectory for the past week, surging by 48% as investors become more interested in the altcoin. 

JasmyCoin (JASMY) is a utility token built on the Ethereum blockchain that can be used on the Jasmy platform. Since its launch in 2021, JASMY has experienced significant market growth. On February 16, 2021, it reached an all-time high of $4.79.

JasmyCoin Price Spikes On Partnership Rumours With Apple

The recent spike in price can be linked to rumours circulating about Jasmy partnering with Apple through Japan’s My Number Card. Despite the buzz, there’s no actual partnership in place. 

The speculation arose after a Reuters report revealed Apple’s intention to incorporate Japan’s “My Number” ID card into the iPhone, a move said to have been confirmed by Japanese officials. 

This card, designed to streamline administrative processes, combines an individual’s tax and social security details. 

The JASMY price soared by 40% shortly after, sparking bullish sentiment within the JASMY community that has persisted since then. Further, JasmyCoin’s CFO and CEOs recently shared their expectation for the Jasmy Price to hit $17 by 2026. As former SONY executives, this is no small claim, adding to the fact that it is likely a conservative one. 

Jasmy is a Japanese startup that aims to democratize data through blockchain and IT technology. Its goal is to empower individuals to regain control of their data securely in a decentralized manner. This innovative approach has garnered interest from tech enthusiasts and investors alike.

Is It Too Late To Invest In JasmyCoin?

JasmyCoin is trading at $0.03946, up 1.2% in the past 24 hours, driven by a 114% surge in trading volume to $498 million. Its market cap now stands at $1.9 billion.

JasmyCoin

JASMY Price. Source: Tradingview

The price of JasmyCoin shows a steady uptrend after a period of consolidation. Bulls have identified a solid support level at $0.01553, providing momentum to push the price within the rising channel towards the resistance level of $0.04267. 

Within this channel, bulls appear to have established a robust support level at $0.03721, where the price briefly stabilized.

Jasmy’s price indicates a potential to reach higher price levels within the rising channel formed. However, the buyers seem to have hit a resistance level at $0.024414, leading to a short correction.

Moreover, the technical indicators support the momentum as the price trades above the 50 and 200 simple moving averages (SMA) with a moving average cross at $0.018692, affirming the general bullish momentum.

The Relative Strength Index (RSI) shows a slight pullback from the overbought range of 70 to 61. However, as it is still above the neutral level of 50, there is a chance that the RSI could bounce back into the overbought level. 

Don’t miss: JasmyCoin Price Eyes $0.03 As Whale Activity Triggers Bullish Breakout

Bottomline 

Currently, the JasmyCoin price is undergoing a push-pull from bulls and bears as they try to take control. Moreover, the bulls may regroup at the channel’s upper trendline to fly the price to $0.05232.

However, a further push of the price downwards could confirm a bearish trend reversal, forcing the bulls to retreat to the $0.03065 support level within the channel.

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