Jasmy Sheds 20% Amid Bitcoin Sell-Off
The post Jasmy Sheds 20% Amid Bitcoin Sell-Off appeared on BitcoinEthereumNews.com.
JasmyCoin Price Analysis: Jasmy price is down 20.6% following the ongoing market bleeding on account of the Bitcoin sell-off. The price of JASMY hovered around $0.019 during European business hours on Friday, a 36% crash in the last 7 days. Nevertheless, crypto enthusiasts remain hopeful, calling this the last pullback before the main bull run. Are they correct? JasmyCoin Price Analysis Hints at Further Downside to $0.015 JASMY’s price had a good run following the misconstrued news of its partnership with Apple. After the hype, the sell-off began, and unfortunately for JasmyCoin, the sell-off has been further exacerbated by the current Bitcoin downturn. Bitcoin’s current market dominance of 51.8% means its price volatility affects the majority of the altcoins in the market. The price of JASMY is surprisingly still trending above the 200-day simple moving average (SMA), despite the heavy drop in value. This indicator may provide some support around $0.02 but if Bitcoin continues to bleed, JASMY’s price may fall lower and find further support around $0.015 If JASMY bulls decide to push the price higher from this level, the asset may increase by 42% back to around $0.028, which coincides with the 0.618 Fibonacci retracement level. The JASMY 14-day relative strength index (RSI) is at 30—almost breaking into the oversold area. This means market participants can expect heightened selling momentum over the weekend before a reversal. Crypto Analysts Maintain Bullish Stance on JasmyCoin Price Despite the flailing price, crypto market analysts have maintained a bullish outlook on the price of JAMSY. JasmyCoin’s bullish prospects include its role in the Internet of Things (IoT) sector, potential technological adoption, and positive market sentiment. $JASMY (JasmyCoin)’s price made an over +1,180% move since the attached analysis, from ≈$0.003125 to $0.040115, and “The Path to $2.90+” REMAINS 💥! This particular technical setup…
Filed under: News - @ July 5, 2024 12:24 pm