JasmyCoin formed a God candle on Saturday, soaring to a high of $0.030, its highest level since July 2024. It has jumped by 72% from its lowest point in August, meaning that it has largely underperformed other coins.
Crypto analysts expect Jasmy price to surge
Analysts are hopeful that JasmyCoin will stage a strong comeback in the coming days. In an X post, Captain Faibik, an analyst who has almost 100,000 followers, predicted that the coin would have a 200% surge in the coming weeks. He noted that the coin was yet to be pumped and the fact that it was about to cross a key resistance level on the 2-day chart.
$JASMY isn’t Pumped yet so Keep an eye on it.. 🧐
In Case of Breakout, Expecting +200% Bullish Rally in the Coming Days. 📈
Javon Marks, another popular crypto analyst, is more hopeful as he expects the coin to soon pump by 1000%. If this happens, he expects that Jasmy will jump to $0.2785. He based his argument on the fact that the coin has formed a falling wedge chart pattern on the three-day chart.
$JASMY (JasmyCoin) now showing MAJOR STRENGTH off of what may have only been a smaller breakout retest.
A run can be ON and the next level in sight is,
$0.2785 in a more than 1,002% gain 🌎
A falling wedge is a pattern made up of two converging downward trendlines. In most cases, this pattern often results in a strong bullish breakout, especially when the two lines are nearing their convergence.
JasmyCoin has strong technicals
Meanwhile, JasmyCoin price has strong technicals, which may help to push it much higher in the longer term. The daily chart shows that the Jasmy price bottomed at $0.01555 in August as the yen carry trade was being unwound.
Jasmy has now rebounded and moved above the 50% Fibonacci Retracement level. It has also jumped above the key resistance level at $0.025, its highest swing on September 28. This was a notable level since it was the neckline of the double-bottom around the support at $0.015.
A double-bottom is a popular pattern that leads to a bullish reversal. This happens because it is a sign that bears were afraid of placing bearish trades beneath that level. Jasmy is now attempting to move above the lower side of the Andrew’s Pitchfork indicator.
Meanwhile, the coin is about to form a golden cross chart pattern, which happens when the 50-day and 200-day moving averages are about to form a bullish crossover pattern. In most periods, this is one of the most bullish patterns. It also formed a small inverse head and shoulders pattern.
Therefore, the most realistic Jasmy forecast is where it rises to $0.03347, its highest level on July 30, which is about 27% above the current level. A break above that level will raise the chances of Jasmy soaring to its year-to-date high of $0.0447, which is about 70% above the current level. On the flip side, a drop below the shoulders level at $0.02 will invalidate the bullish view.
Catalysts for Jasmy crypto price
The most likely reason why Jasmy price will surge is that it has one of the most active fanbase in the crypto industry. It is also seen as a cheaper version of Bitcoin. As such, with Bitcoin preparing a massive rally above $100,000, there are signs that the coin will replicate its move.
Further supporting this view is that Jasmy’s futures open interest has been calm for a while. It remained below $40 million throughout last week and then jumped to $58 million on Saturday. A sign that an asset’s open interest is rising is a sign that it is attracting more demand from investors.
Jasmy futures open interest
Additionally, Jasmy price is rising as the crypto fear and greed index remains in an extreme greed zone, pointing to more gains ahead.
The post Jasmy price analysis as crypto pro sees a 1000% jump appeared first on Invezz
https://invezz.com/news/2024/11/23/jasmy-price-analysis-as-crypto-pro-sees-a-1000-jump/
