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Highlights
- Bulls make a resounding comeback pushing JASMY 67% above $0.02 support.
- A death cross pattern among other technical indicators backs the trend reversal.
- JasmyCoin is transforming the DePIN sector through key IoT partnerships.
JasmyCoin surged 30% last week, taking the lead among DePIN coins. The Internet of Things (IoT) token beat majors Filecoin (FIL), Render (RNDR), and Arweave (AR) amid a widespread bullish wave. JasmyCoin price prediction shows an established solid technical structure intending to guide its recovery to reach $0.046—its most recent peak in June.
According to the CoinMarketCap data, JasmyCoin soared 7% to exchange at $0.031 on Wednesday. This bullish return is reflected in the market cap’s 7% increase to $1.55 billion. However, a 25% decline in the 24-hour trading volume could signal dwindling interest among traders.
JasmyCoin Price Prediction: Bull Run Breakout Begins
After plunging from June’s peak, JasmyCoin respected support at $0.02. The 200-day Exponential Moving Average (EMA) in purple reinforced the buyer congestion.
This area of support functioned as a prime springboard, allowing bulls to immediately increase the ferocity of the battle for a sustainable trend reversal.
With a renewed bullish push, JasmyCoin price pushed out of the descending channel as illustrated in the chart.
So far, JASMY has climbed 67% above the key support and holds on top of the 20-day EMA in blue and the 50-day EMA in red. Also in line to cushion the DePIN coin from a deeper correction is the 38.2% Fibonacci retracement level at $0.029.
Meanwhile, traders may want to hold on until JASMY breaks above the 0.5 Fibonacci ratio resistance at $0.032 before entering new buy orders. That way they can avoid potential bull traps.
On the other side of things, the Moving Average Convergence Divergence (MACD) indicator validates the bullish outlook in JasmyCoin. Traders would be inclined to keep their current long positions active, thanks to a buy signal.
An incoming move above the neutral region backed by swelling green histograms would further keep JasmyCoin on track to the previous peak of $0.0446.
Should the 20-day EMA flip the 50-day EMA to establish a golden cross pattern, there will be more reason to bet on a bigger climb possibly above $0.0446 before August.
How JasmyCoin is Transforming DePIN and Data Security
The JasmyCoin ecosystem is making major strides aimed at overhauling data security in the information age. On the backdrop of the developers of this project, is a desire to make data security a basic right and not a luxury as has been the case for many years.
To achieve this tall order, JasmyCoin is partnering with key industry players, especially major technology companies including Panasonic Advanced Technology Co., Ltd.
This partnership spearheaded the creation of a Web-3-based platform that seamlessly links information from people and the information produced by things through IoT.
Frequently Asked Questions (FAQs)
1. What is the origin of JasmyCoin?
2. How competitive is JasmyCoin in DePIN?
3. Where will JasmyCoin be in 5 years?
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