Highlights
JASMY Price Prediction: JasmyCoin was among the best-performing coins last week as the market rushed to bag this coin following a misconstrued Apple announcement. JASMY price pumped to a high of $0.040 before cooling off for a bot.
The price of JASMY traded around $0.039 during European business hours on Thursday, a 0.6% decrease in 24 hours and a 57.6% increase in the past 7 days.
JASMY price has been making higher highs for the past 10 days and may soon be due for a retreat. However, the price is still trending above the 50-day and 200-day simple moving averages (SMA), and strong support is forming around the 0.5 Fibonacci retracement level. The price of JASMY surged higher and posted a new high at $0.0425 before correcting back by 8%.
On the 30-minute chart, the price of JASMY is currently supported by the top of a range ($0.0372) from which it previously broke out. If price action breaks below this level, it may enter back into the range.
Additionally, below the range, the 0.5 Fibonacci retracement level coincides with a fair value gap (FVG) yet to be filled, confirming the possibility of a 23% retracement from the current price. Conversely, bulls may still compete to push the price higher, aiming for $0.049, $0.059, and $0.064. They may encounter some weak resistance around the $0.042 area.
JASMY’s price could rebound following the impending retracement, but investors in the crypto community are apprehensive about a significant pullback for the coin. The surge in JasmyCoin followed a misunderstanding of Apple’s recent announcement about integrating Japan’s ‘My Number’ feature into their iPhones.
Investors presumed JasmyCoin, a key player in the decentralized Physical Infrastructure Network (DePIN) sector, was involved, thus driving its rally. It surged by 57% in the past week based on this news, which has now been clarified as a misinterpretation.
Additionally, concerns arise over DWF Labs, which recently deposited 50 million JASMY tokens valued at approximately $1.57 million into Binance. They might drastically reduce their current holdings at this profit-taking juncture, considering they already have a 3x profit. Currently, Jasmy has witnessed a decline in trading volume of -57.20% in the last 24 hours, indicating a slowdown in market activity.
The crypto markets are volatile and information is sensitive. Misconstrued information can make or break a project in this young digital financial space. Nevertheless, JASMY investors continue to remain hopeful, even though the news of the Apple partnership was a hoax.
Related Articles
The ASTER price has slipped by 2.37% over the past 24 hours, while the HYPE…
Ethereum price could be on the verge of a strong bullish breakout in the coming…
The Cardano price continues to attract growing attention as anticipation builds ahead of the SEC’s…
Following a 3.57% daily rise, Solana price has regained upward traction amid renewed institutional interest…
The Ethereum price continues to attract significant attention after reclaiming a crucial resistance level, reinforcing…
The Pi Network price has been left behind in the ongoing crypto market bull run.…