Jasmy Coin Hints At Reversal Amid Withdrawals

JasyCoin (JASMY) showed potential for a reversal after closing strongly bullish on the weekly time frame coupled with withdrawals from exchanges.

Jasmy Coin Price Prediction

On the weekly timeframe JasmyCoin experienced a robust recovery off its macro support area spanning from $0.0100 to $0.0120.

This particular area performed as accumulation support zone before major rallies which demonstrates its important status.

Price produced positive indications at this support level during the recent recovery which led to its rise up to $0.0150.

The next significant resistance point in the price forecast stood at $0.0590 because that level marked previous rally saturation.

Price action formed possible stair-step continuation patterns during price consolidation periods that ultimately produced successive breakouts reaching the target level.

Without success at keeping the price above $0.0100 the market could extend its current bearish trend.

A weekly candlestick closing beneath this specified zone would signal bearish market pressure while pushing Jasmy back into the extended consolidation area at $0.0080.

The graph displayed an early reversed trend during its support recovery which exhibited a shape resembling a capital “V” indicating robust demand strength.

The predicted price movement of Jasmy would result in an extended upward trend which would lead to progressive advancement towards the $0.0590 macro level.

The bullish forecast remains valid only when Jasmy Coin maintains its position above the active support zone.

Any break of this area will make the breakout structure useless and trigger additional selling pressure. The next explosion point for Jasmy will emerge between $0.0100 to $0.0120.

Massive Exchange Outflow

Major exchanges have experienced significant JasmyCoin token withdrawals indicating that holders might be building up their stakes.

Coinbase started the outflow movement with its sales of 657 million JASMY tokens totaling approximately $10 million from its hot wallet.

Binance next followed with the transfer of 636.9 million tokens that amounted to $9.9 million. The BtcTurk network saw major activity through the extract of 408.7 million and 268.2 million tokens from distinct wallets leading to approximately $10 million accumulation.

Gate.io recorded 259.2 million tokens in outflows followed by additional Binance wallets which showed 228.3 million, 217.4 million and 200 million tokens moved throughout the period.

The token transfer activities to cold storage offer indicators of significant buying power that indicates investors stashed their assets for future price appreciation.

The lowered supply of JASMY combined with steady market demand should theoretically increase its market price.

The same action that led to price strength through withdrawals was still possible but opposite conditions resulted in opposing effects although withdrawals occurred.

Future outflows that continue will likely bring bullish expectations when combined with growing trading volume and technical price breakouts.

Market stagnation and retracement tend to occur when there is insufficient market participation. JASMY coin’s price direction will significantly depend on subsequent trading platform participation and investor reaction to general market signals.

What Low Open Interest Means?

The value of JASMY coin locked on Bybit, OKX, and Binance dropped considerably, from more than $3.5 billion in December 2024 to less than $500 million.

This was because the majority of amateur traders decided to close out.

They closed out because the price stopped going up and down, which happened simultaneously with the drastic reduction in the total number of trades.

Trading positions showed minimal speculative activity possibly because traders felt exhausted and the market displayed overall increased caution.

The decrease in open interest might indicate a market reconfiguration process because the selling force has weakened while accumulation may proceed without drawing attention.

Institutional investors at lower price points combined with long-term holder participation could stimulate an extended price increase due to rebuffing trust in the market.

The possible outcome of low market participation could be either declining market enthusiasm or rising market uncertainty which would delay positive price developments.

Jasmy coin’s current price movement seems likely to either stay stagnant or move slowly because open interest stands under $500 million dollars.

Rising open interest together with increased trading volume would serve as the essential indicators to validate an upcoming bullish trend.

The token holds little prospect of moving upward within a scenario of low liquidity because matching buy and sell orders would prove difficult.