The JasmyCoin has slumped 3% to trade for $0.03861 as of 7:15 am on trading volume that plunged 26% to $213 million.
Jasmy has been one of the most impressive altcoins over the last few weeks. Last week, the price of JasmyCoin plummeted by over 120% following the buzz that JasmyCoin might partner with Apple.
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However, with the crypto market gaining increasing attention, JasmyCoin could attract investors, especially following its recent partnership with Panasonic.
JasmyCoin has grown 9% in the past week and 122.62% in the past month, raising its market capitalization to $1.91 billion. This growth is supported by its 24-hour trading volume, which indicates a growth of roughly 148.28%.
Additionally, analysts from Santiment have noted that transactions over $100,000 on the JASMY network doubled last week compared to the 2024 average.
📈 #Cardano, #ShibaInu, and #Jasmy are all enjoying surges, each appearing to be triggered after a spike in whale interest. The amount of $100K+ transactions on each of these networks have all more than doubled this week compared to usual 2024 averages, signaling accumulation. pic.twitter.com/bz2Xtvf2Bx
— Santiment (@santimentfeed) June 5, 2024
Jasmycoin Bulls Poised For a Bull Rally: Will They Surpass ATH?
The JasmyCoin price indicates a downtrend from its peak at $0.04468. The struggle between the bulls and the bears to take control of the price has led to a bullish flag pattern that signals a bullish trend reversal. Traders look to the pattern for a bullish trend continuation.
After a period of sideways movement, the bulls finally found solid support, pushing the price up. The support level at $0.0402 offers another opportunity for the bulls to drive the price higher. If the momentum increases and the price breaks above the trendline’s upper boundary, it could spark a rally, potentially pushing the price to its all-time high.
The Jasmycoin price trades within the 50-day simple moving average (SMA), with support from the 200-day SMA. If the bulls exert some pressure and push the price upwards, it could break above the 50-day SMA and the upper trendline of the pennant, signalling positive momentum.
Notably, the Relative Strength Index (RSI) has bounced back from 40, heading towards the mean level. As the momentum builds, the RSI might jump to the overbought region, 70, suggesting intense buying pressure.
On the other hand, the Moving Average Convergence Divergence (MACD) points to a bullish trend. It shows signs of a rebound below the neutral position, with a crossover on the horizon as the blue average line approaches the orange signal line. Additionally, the histogram bars turning green signal that the bulls are starting to regain control.
JasmyCoin Price Prediction
The Jasmycoin price seems poised for a significant bull rally. The bulls ride the bullish pennant pattern, boosting bullish momentum and pushing the price upward towards its previous high of $0.04468.
However, increased momentum could see the bulls propel the price to a new all-time high (ATH) of $0.0506.
Conversely, if the bears regain control, they could drive the price to $0.0390.
Bottom Line
Presuming the coin keeps rising in collaboration with the crypto market, traders and investors can take advantage of the opportunity to invest. Hence, JASMY is among the best candidates for the best crypto to add to your wallet.
However, every investor or trader should conduct thorough background research before making any investment decision at any particular time.
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