JasmyCoin (JASMY) price has recently shown significant price growth. Over the past week, the value of JASMYCOIN has surged by 14%, indicating a robust upward trend. The price trajectory of the altcoin is characterized by dynamic green trends, suggesting potential further increases. This trend reflects growing investor confidence and market optimism around the cryptocurrency.

JASMYCoin Price Forecast: Whale Transactions Signal Upcoming Surges

Recent trading data for JasmyCoin price shows notable increases in whale transactions exceeding $100,000, as captured in a dual-line graph by Santiment. Sharp red peaks on the graph represent these whale activities. 

They often precede significant movements in JASMYCOIN price, marked in green. For example, a surge in mid-June correlates with a high price peak. This suggests a potential link between large-scale trading and price changes.

Source- Santiment

According to Coinglass data, a noticeable shift in market activity has occurred. The trading volume has increased by 2.30%, now standing at $85.79 million. At the same time, Open Interest showed a strong increase. This metric tracks all unsettled derivative contracts, like futures and options. It rose by 7.69% and hit a total of $32.15 million.

This rise in Open Interest, alongside the volume growth, suggests a heightened level of trading activity and potentially increased market liquidity.

Source- Coinglass

JasmyCoin Price Exhibits Strong Upward Momentum

Over the past 24 hours,  the JasmyCoin price has increased, indicating a significant market activity. At the time of writing, JASMYCOIN price is trading at $0.02363, with a strong surge of 5%  during the U.S time frame.

The JasmyCoin has been hovering between a low of $0.0222 and a high of $0.02373, suggesting a heightened trading activity that has sparked interest among investors seeking short-term gains.

JasmyCoin price exhibits a promising upward trend, indicating a possible entry into a bullish market phase. Recent movements show the altcoin nearing the critical resistance level of $0.25. If this momentum is sustained, the price may soon escalate to $0.3. And if bullish mounts more pressure the altcoin could even reach $0.35.

The 4-hour technical analysis for the JASMY/USD trading pair shows a slight upward trend. The Moving Average Convergence Divergence (MACD) indicator displays a bullish signal. The MACD line (blue) is above the signal line (orange), and positive histogram bars suggest strengthening upward momentum.

The Relative Strength Index (RSI) is nearing overbought territory, with a current reading of 69.72.

JasmyCoin Price Chart| Source: TradingView

Conversely, the JasmyCoin price might initially find support at $0.2 if market sentiment declines. If the bearish trend intensifies, the price will drop to $0.19. In a more pessimistic scenario, the value of JASMYCOIN could potentially slide to $0.15.

The post JasmyCoin Price Prediction: Here’s What Could Propel JASMY Price To $0.35 appeared first on CoinGape.

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Filed under: News - @ August 24, 2024 6:26 pm