70% of Jasmy Holders ‘In the Money’—Will’ Bulls Take Over?
The post 70% of Jasmy Holders ‘In the Money’—Will’ Bulls Take Over? appeared on BitcoinEthereumNews.com.
In the last 24 hours, Jasmy Coin has dipped 9.81% and is now trading at $0.03405. Despite the Federal Reserve’s 25-bps rate cut, the market has been tainted with unprecedented volatility. While the rate reduction was meant to spur growth, it has led to worries that inflation could rise, precipitating a 4.16% downslide in the total crypto market cap. The fall of Bitcoin below $100k is testimony to the widespread uncertainty that extends across other tokens, such as Jasmy. The cryptocurrency, in particular, has been volatile for December, with its price ranging from $0.01924 to $0.05853. However, at the moment, the token is recovering, currently providing stability at $0.0340. Market Alert: Bearish Supertrend Could Indicate Deeper Pullbacks In December 2024, Jasmy has had a rather explosive month, with its price fluctuating between $0.02450 and $0.04850. The cryptocurrency is currently consolidating around the $0.03999 liquidity zone. As this critical level decides the token’s next direction, a turnaround could target $0.04850 resistance, and a breakdown may see it fall toward $0.02450. The Supertrend indicator is now colored red, showing a continuation of the downtrend unless the cryptocurrency can recapture higher ground above $0.03999. Moreover, the CMF at -0.15 signifies a heavier selling pressure, and MACD attempts to turn bearish with negative divergence, testifying the market is now weak. On-Chain Holder Distribution Metrics According to Intotheblock data, 70.81%, or 57.68k addresses of Jasmy holders, are ‘In the Money,’ with their coins being bought for cheaper. Of that, 19.76%, or 16.1k addresses, which are ‘Out of the Money,’ are spent on tokens currently worth more than today’s value. Additionally, 9.44% of 7.69k addresses are ‘At the Money,’ which means purchases at the current price. Analyzing the percentage of “In the Money” addresses reveals potential resistance near $0.042061 compared to the percentage of “Out of…
Filed under: News - @ December 20, 2024 7:17 am