- JASMY could skyrocket by 24,372% to $4.47842 if bullish momentum sustains.
- A breakout above $0.01867 could push JASMY to $0.01900-$0.02000, while failure may lead to a dip towards $0.01650.
- Lower trader participation signals weaker speculative demand, with recovery dependent on renewed buying pressure.
Most altcoins have suffered a big reversal this week but currently,Jasmy price has shown parabolic rise followed by a massive downtrend, forming a large falling wedge pattern. The wedge structure suggests accumulation and bottoming out, leading to a gradual recovery.
Moreover,a significant increase in trading volume further confirms strong buying interest, reinforcing the possibility of sustained upward movement. Jasmy support is holding around $0.025 – $0.030, a crucial zone for maintaining bullish momentum.
As long as this support remains intact, JASMY has the potential to push higher, with the long-term target projected at $4.47842, representing a 24,372% increase.Overall, the bullish structure remains intact, suggesting that JASMY could be in the early stages of a major trend reversal, with the potential for exponential price gains in the long run.
JasmyCoin Eyes Key Resistance Amid Bullish Momentum
At press time, JasmyCoin was trading at $0.01822, reflecting a 6.30% increase in value. Over the last 24 hours, the price has ranged between $0.01686 and $0.01867 .This indicates bullish momentum as the price approaches its daily high.The bullish price movement signals positive sentiment, likely due to increased buying pressure.
The price nearing the $0.01867 resistance level suggests that a breakout could occur if momentum sustains. If the buying pressure continues, JASMY may push towards $0.01900-$0.02000. However,If selling pressure intensifies, the price might drop toward $0.01650-$0.01680.
JASMY Open Interest Declines, Signaling Weak Momentum
Data from Coinglass shows that speculative interest stayed low during September to December while open interest displayed stable low values. A substantial increase in open interest reached over $90 million during the early stage of January while price climbed to around $0.0600.
Throughout, open interest and price have shown a strong correlation, with increases in speculative positions leading to price spikes. The trading price of JASMY alongside open interest data has decreased substantially during mid-February as it remains within the $0.0100-$0.0200 range showing lower trader involvement and diminished speculative interest.
Jasmy March Price Outlook
Data analysis from Coincodex suggest that, Over the next five days, Jasmy will reach the highest price of $ 0.018683 which would represent 2.46% growth compared to the current price.
