JasmyCoin’s Price Surge: Is a 50% Upside Coming?! 💸

by

Hold onto your hats, folks! JasmyCoin (JASMY) just skyrocketed 25% on Thursday, reaching a whopping $0.0320! 🚀

That’s right, you heard me. This mid-cap digital asset is now at its highest level since January 9th, joining the party with other crypto heavyweights like Fartcoin, SPX6900, Raydium, Mantra, and Litecoin.

And guess what? The stock market’s feeling pretty good too! The S&P 500 and Nasdaq 100 are also recovering nicely. Coincidence? I think not.

So, what’s the deal with this sudden price surge? Well, it might have something to do with the Federal Reserve’s recent interest rate decision. They left rates unchanged, but economists are now expecting the next rate cut in July. Go figure.

But wait, there’s more! JasmyCoin’s futures open interest is also on the rise, hitting $53 million – its highest level since January 15th. That’s a surefire sign of increased demand, my friends.

And if that’s not enough to get your blood pumping, here’s the icing on the cake: more JasmyCoin tokens are leaving exchanges, meaning investors are accumulating like there’s no tomorrow. The number of tokens held on exchanges has dropped to 16.45 billion, down nearly 1% from last week.

Now, let’s dive into the nitty-gritty of JasmyCoin’s price analysis, shall we?

As you can see from the chart, JasmyCoin reached a high of $0.0588 in November last year. But then, it experienced a sharp pullback, reaching a low of $0.023 during the ongoing altcoin sell-off.

But fear not! The price found support at the 61.8% Fibonacci retracement level at $0.0150 – a critical zone for bullish reversals.

And here’s the real kicker: JasmyCoin has formed a falling wedge pattern, which means a bullish breakout might be just around the corner! 💥

If this breakout occurs, the next key resistance level to watch will be $0.0445, representing a potential 50% increase from the current price. And if that’s not enough, a further rally could push JasmyCoin toward its 2024 high of $0.0588, marking a 96% gain from its current level.

However, JasmyCoin’s bullish outlook would be invalidated if the price falls below the key support level of $0.0231, its lowest point since January.

So, there you have it! Will JasmyCoin continue its meteoric rise? Only time will tell. But one thing’s for sure: it’s been an exciting ride so far! 🎢

Read More

2025-01-30 19:40