The price of JasmyCoin has been moving with the general crypto market lately. It saw an increase between November 5 and December 5, like many other cryptocurrencies. With attention on the coin lately, could it rise up the ranks and become a top 25 crypto?
BusinessDad, a YouTube channel with more than 16,000 subscribers, shows enthusiasm about JASMY’s performance amid broader crypto market volatility. Despite a market flash crash over 48 hours, the analyst who made the video maintains an optimistic outlook on Jasmy’s price.
The token trades above 4 cents at the time of writing after reaching 6 cents before a recent pullback. BusinessDad views this as a healthy market correction rather than a concerning decline.
Technical Indicators and Market Cap Projections
The analyst identifies a series of higher lows in Jasmy’s price action, interpreting this as a bullish technical signal. Referencing a November 26 analysis, he notes how these patterns on the 4-hour timeframe suggested an impending upward move, which subsequently materialized.
The current market structure, he argues, indicates continued strength and potential for further gains.
Read Also: Expert Says Chainlink (LINK) Is ‘Undervalued’ – Here’s Why
Currently sitting at a $2 billion market cap and ranked 62nd, Jasmy would need to reach $6-7 billion to enter the top 25 cryptocurrencies.
BusinessDad believes a $10 billion valuation is achievable, with the potential for $20 billion under optimal market conditions. He compares this to the current top 20 cryptocurrencies, which maintain market caps between $10 and $11 billion.
While maintaining his bullish stance, BusinessDad emphasizes monitoring technical indicators like the stochastic RSI for negative divergence.
He advises against emotional attachment to positions and stresses the importance of studying the historical market cycles of established cryptocurrencies like Bitcoin and Dogecoin to understand typical pullback patterns.
BusinessDad concludes that Jasmy’s technical strength and market positioning make its potential inclusion in the top 25 cryptocurrencies feasible. However, he balances this optimism with reminders about market volatility and the need for proper risk management strategies.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
