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Jasmy price early bullish signal points to a surge this year

by admin April 12, 2025
April 12, 2025
Jasmy price early bullish signal points to a surge this year

The JasmyCoin price has tanked this year, mirroring the performance of Bitcoin and most altcoins. After peaking at $0.05937 in November, the token has crashed to the current $0.0117, lowering its market cap from a high of $2.8 billion to the current $584 million. Still, a top technical pattern points to an eventual rebound in the coming days.

Jasmy price technical analysis points to a surge

The 3D chart shows that the Jasmy price has been in a freefall this year, and is now hovering near its lowest level since February 2024. It has plunged below the 50-day and 100-day moving averages, a bearish signal. 

The coin has also moved below the 78.6% Fibonacci Retracement level, a sign that bears are in control. Also, most oscillators like the Relative Strength Index (RSI) and the Stochastic Oscillator have continued falling this year. 

Most importantly, the JasmyCoin price has formed an early bullish pattern, pointing to a surge in the coming days. It has formed a falling wedge pattern, which is characterized by a two falling and converging trendlines. These lines have now converged, meaning that a bullish breakout may happen soon. 

Additionally, oscillators have started to point upwards, a sign that it wants to form a bullish divergence pattern. The MACD and the Stochastic Oscillator have also continued rising this week. 

Therefore, the JASMY price will likely have a strong bullish breakout in the coming days as investors buy the dip. If this happens, the next JasmyCoin price target to watch will be at $0.03123, the 50% Fibonacci Retracement level. This target is about 160% from the current level.

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Potential catalysts for JasmyCoin

There are a few catalysts for the JASMY price. First, the token may rebound because of the rising recession odds, which Mark Zandi has warned would happen. High recession odds mean that the Federal Reserve may decide to start cutting interest rates soon, a move that will boost risky assets like JASMY, Bitcoin, and stocks. 

Mark Zandi

@Markzandi

·Follow

It was encouraging to see the President reverse himself on the so-called “reciprocal” tariffs yesterday, but I wouldn’t take much solace in it as the global trade war continues to rage. I still put the odds of a recession this year at 60%.

3:45 PM · Apr 10, 2025

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Second, on-chain data shows that Jasmy has become significantly cheaper than how it was a few months ago. One of the best indicators for this is the Market Value to Relative Value (MVRV) indicator, which has tumbled to minus 1.87, down from 5.25 in November. The MVRV indicator is one of the most popular tools to gauge a coin’s valuation.

Third, the closely watched Mean Dollar Invested Age (MDIA) figure has continued rising. The 365-day MDIA figure has risen to 157 from the year-to-date low of 86, while the 180-day MDIA has soared to 87. This is a sign that long-term JASMY holders are not selling their coins.

Therefore, a combination of the falling wedge and its strong fundamental metrics mean that the coin will likely bounce back, making it a highly contrarian bet.

The post Jasmy price early bullish signal points to a surge this year appeared first on Invezz

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