Can JasmyCoin (JASMY) Hit a ‘Multibillion’ Dollar Market Cap? Experts Remain Bullish But…

JasmyCoin (JASMY) has lately been the center of considerable excitement within the crypto community. As the token’s market capitalization hovers around $1.26 billion, the community eagerly awaits potential updates that could propel JASMY to new heights.

At the time of publication, according to data from CoinGecko, JASMY’s price was $0.02497 – reflecting an 18.85% increase over the past 24 hours and a 65.86% price surge in the last 7 days. This shows that JASMY has been on an upward trajectory lately.

Multibillion-Dollar Ambitions

Analyst JoudDabboussi expressed optimism about JASMY’s prospects, stating, “In my opinion, with potential detailed communication that would come out soon around the updated roadmap and lock up plan, and the hopefully positive outcome from #binance reconsideration of positioning #JASMY out of the monitoring zone, the road to multibillion $ MC is inevitable.”

Dabboussi’s bullish stance stems from the expected communication regarding JASMY’s roadmap and lock-up plan, as well as the potential for Binance to reconsider its positioning of the token. With the circulating supply already at 98%, the stage seems set for a surge in market capitalization.

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Technical Targets and Patterns

Amidst the bullish sentiment, @TehLamboX provided a technical analysis, highlighting JASMY’s achievement of reaching the second target at $0.027. “2.618 fib at 0.027$ was our precise resistance, and we managed to test it,” the analyst noted.

Furthermore, @TehLamboX identified crucial support levels and potential resistance zones, stating, “Now 0.021$ is absolutely crucial support, and 0.024$ becomes the retest of the breakout! Next target should be the 0.036 – 0.039$ zone, and then we try to top out near there or even 0.05$ as the best case scenario.”

Analyst @TehLamboX highlighted $0.021 as a critical support level, while $0.024 becomes the retest of the breakout. Looking ahead, he identified the $0.036 – $0.039 zone as the next target while still confident in a potential best-case scenario where JASMY could top out near that zone or even reach $0.05.

Rising Wedge Pattern: Caution Ahead?

While optimism reigns supreme, Fresh_Fontana offered a word of caution, noting that JASMY is still respecting a rising wedge pattern. “Price may consolidate into wedge support over the next day. These patterns have a higher probability of breaking to the downside. We will see if that plays true once the pattern matures,” the analyst cautioned.

As the JASMY community eagerly awaits potential updates and dissects the token’s price action, the stage is set for a fascinating battle between bullish enthusiasm and technical patterns.

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Samuel Munene
Samuel Munene

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