- JASMY dodges delisting after strong community support in Binance voting round two
- Price action shows short-term bearish trend despite support holding at $0.0132
- Declining volume and weakening MACD hint at fading bullish momentum for JASMY
JasmyCoin (JASMY) has dodged a major blow by avoiding delisting in Binance’s second round of community voting. The vote, which aimed to determine which tokens would stay on the exchange, placed JASMY among the top five with 8.6% of the vote share on par with Zcash (ZEC) and trailing behind FTT.
This development came as a surprise to some traders, considering JASMY’s recent price volatility and uncertain outlook. However, the token’s escape from delisting has sparked new interest, particularly due to rumors surrounding DWF Labs’ ongoing involvement.
Short-Term Price Action and Market Sentiment
At press time, JASMY is trading around $0.01360, marking a 2.65% drop over the last 24 hours. The price initially hovered near $0.01398, peaked at $0.0142, and then dropped sharply. It touched a daily low slightly under $0.0132 before showing signs of recovery. This trajectory reveals bearish pressure in the short term, although the support near $0.0132 held firmly.
Moreover, the trading volume has decreased by nearly 14%, dropping to $58.83 million in 24 hours. This suggests weakening momentum. The volume-to-market cap ratio stands at 8.73%, reflecting a moderate level of trading activity. With volume declining, buyers may be stepping back, awaiting clearer signals.
Key Levels and Technical Indicators
The most critical support sits at $0.0132, which has acted as a cushion during recent dips. Another minor support can be identified around $0.0135. Resistance, however, looms at $0.0142, where the price failed to sustain gains. There’s also a minor ceiling between $0.0139 and $0.0140, formed during earlier consolidation.
Technically, the MACD still shows the MACD line above the signal line, but they’re closely aligned. This suggests that bullish strength is fading.
Additionally, the MACD histogram is shrinking, which often precedes a shift in trend direction. The RSI currently reads 53.19, sitting in the neutral zone. It recently dipped from above 70, confirming that the asset is no longer overbought.
