JasmyCoin (JASMY) price has recently shown significant price growth. Over the past week, the value of JASMYCOIN has surged by 14%, indicating a robust upward trend. The price trajectory of the altcoin is characterized by dynamic green trends, suggesting potential further increases. This trend reflects growing investor confidence and market optimism around the cryptocurrency.
JASMYCoin Price Forecast: Whale Transactions Signal Upcoming Surges
Recent trading data for JasmyCoin price shows notable increases in whale transactions exceeding $100,000, as captured in a dual-line graph by Santiment. Sharp red peaks on the graph represent these whale activities.
They often precede significant movements in JASMYCOIN price, marked in green. For example, a surge in mid-June correlates with a high price peak. This suggests a potential link between large-scale trading and price changes.
According to Coinglass data, a noticeable shift in market activity has occurred. The trading volume has increased by 2.30%, now standing at $85.79 million. At the same time, Open Interest showed a strong increase. This metric tracks all unsettled derivative contracts, like futures and options. It rose by 7.69% and hit a total of $32.15 million.
This rise in Open Interest, alongside the volume growth, suggests a heightened level of trading activity and potentially increased market liquidity.
JasmyCoin Price Exhibits Strong Upward Momentum
Over the past 24 hours, the JasmyCoin price has increased, indicating a significant market activity. At the time of writing, JASMYCOIN price is trading at $0.02363, with a strong surge of 5% during the U.S time frame.
The JasmyCoin has been hovering between a low of $0.0222 and a high of $0.02373, suggesting a heightened trading activity that has sparked interest among investors seeking short-term gains.
JasmyCoin price exhibits a promising upward trend, indicating a possible entry into a bullish market phase. Recent movements show the altcoin nearing the critical resistance level of $0.25. If this momentum is sustained, the price may soon escalate to $0.3. And if bullish mounts more pressure the altcoin could even reach $0.35.
The 4-hour technical analysis for the JASMY/USD trading pair shows a slight upward trend. The Moving Average Convergence Divergence (MACD) indicator displays a bullish signal. The MACD line (blue) is above the signal line (orange), and positive histogram bars suggest strengthening upward momentum.
The Relative Strength Index (RSI) is nearing overbought territory, with a current reading of 69.72.
Conversely, the JasmyCoin price might initially find support at $0.2 if market sentiment declines. If the bearish trend intensifies, the price will drop to $0.19. In a more pessimistic scenario, the value of JASMYCOIN could potentially slide to $0.15.
Frequently Asked Questions (FAQs)
JasmyCoin could potentially reach $0.35 if bullish trends continue. It has current support levels at $0.2, and in bearish scenarios, it could drop to $0.19 or even $0.15.
Jasmy incorporates blockchain for data security and integrity, edge computing for efficient data processing near the source, and IPFS for decentralized and resilient data storage.
Large transactions, often by whales, precede significant movements in the JasmyCoin price. These transactions can signal upcoming surges due to the large amount of capital moved, influencing market dynamics.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/jasmycoin-price-prediction-heres-what-could-propel-jasmy-price-to-0-35/
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