JASMY experiences a significant 22% drop within a short duration.
JASMY Cryptocurrency Shows Signs of Recovery Amidst Bearish Market Dynamics
The JASMY cryptocurrency, currently averaging around $0.0145, is exhibiting a cautiously optimistic longer-term outlook despite the persistent bearish dynamics on the derivatives market.
Price Levels and Trend
Bearish scenarios suggest potential dips to about $0.0102, but a break of resistance could propel the price towards $0.026. Yearly average price forecasts for 2025 are around $0.0256, with lows near $0.007 and highs near $0.031 by the end of the year [1]. Other forecasts estimate a 2025 average between $0.015 and $0.025, with potential for $0.035 in a bullish case [2][4].
Recent Price Movement and Momentum
The price has experienced a slight downward movement (-0.38% last 24 hours) but has also shown short-term recoveries (+2.3% in other data), indicating volatility and a tentative bottom formation [3]. Technical indicators such as RSI are neutral to slightly bullish, supporting the possibility of near-term upward momentum if resistance levels at ~$0.020 to $0.035 are surpassed [2].
Resistance and Support
Strong resistance appears around $0.020, $0.026, and up to $0.035, while support zones range between $0.006 and $0.012, with the lowest bearish predictions near $0.007–$0.010 [1][2].
Fundamental Factors
JASMY’s integration with AtomicWallet, partnerships aimed at IoT applications, and its positioning in Japan’s Web3 and data-ownership ecosystem provide medium- to long-term bullish fundamental catalysts [1][2]. If Bitcoin prices rise significantly (e.g., >$100K), JASMY could also benefit from increased market interest [2].
Summary
The overall trend points towards a cautious recovery with significant upside potential if key resistance levels are broken, supported by positive technical signals and fundamental developments. However, volatility remains high, and failure to hold current support levels could lead to further short-term declines near the $0.007–$0.010 range. Investors should watch price action at $0.015–$0.020 closely for signs of a sustained bounce or breakdown [1][2][3].
In essence, JASMY currently shows mixed short-term weakness but possible signs of a bounce with a cautiously bullish medium-term outlook, contingent on breaking resistance points and broader crypto market trends.
Additional Findings
- Long liquidations on major exchange platforms totaled $224,240 in the last 24 hours, with short liquidations at $8,310. This disparity confirms the dominance of sellers in the market [5].
- The Taker Buy/Sell ratio is below 1, indicating that the majority of derivatives volume is generated by sellers [5].
- The Accumulation/Distribution (A/D) indicator continues to support the bearish trend, but shows slight increases. There are early signs of a potential change in the Chaikin Money Flow (CMF) [5].
- A short-term positive reaction could be possible if the accumulation is sustained. A loss of the support zone at $0.01614 could bring JASMY back to the $0.015 zone [5].
- JASMY's recent decline coincided with its entry into a resistance zone at $0.02000 [5].
This article was written by Charles Ledoux, a Bitcoin and blockchain technology specialist [6].
[1] https://www.tradingview.com/chart/JASMY-USDT/i3K0KnY3/ [2] https://www.investing.com/crypto/jasmy-price-forecast/ [3] https://www.coingecko.com/en/coins/jasmy [4] https://www.newsbtc.com/analysis/2023/02/14/jasmy-price-analysis-12-feb-2023/ [5] https://www.cryptonews.com/news/jasmy-price-analysis-2023-feb-13.htm [6] https://www.linkedin.com/in/charles-ledoux-67319118/
1. Participants of the crypto academy might consider investing in JASMY, given its cautiously bullish medium-term outlook, backed by integration with AtomicWallet, IoT partnerships, and its positioning in Japan's Web3 and data-ownership ecosystem [1][2].
2. As the JASMY cryptocurrency exhibits a tentative bottom formation and shows signs of recovery, it could be of interest to finance and technology enthusiasts, especially if they anticipate a potential break of resistance that may propel the price towards $0.026 [3].
