JasmyCoin Poised for Next Breakout: Analyst Urges JASMY Holders to Understand This Key Aspect of the Coin

JasmyCoin (JASMY), a leading Japanese IoT platform focused on data security and privacy, shows growing signs of an imminent trend change back into bull market positive territory, both technically and fundamentally.

Respected analysts spot a pending breakout setup, indicating potential for substantial upside if triggered, while also examining risks around unrealistic long term projections.

Bull Flag Signals Continuation Rally Forming

Veteran chartist Team LAMBO analyzes the short term JASMY price action, identifying an extremely constructive bull flag pattern from which powerful continuations often emerge.

“JASMY can breakout of this bull flag very very soon!” the analyst comments. “The breakout level is 0.0173$ here, once we get a breakout, expect a bullish impulse towards 0.027$ and 0.039$ here.”

Thus, two key upside targets come into focus around $0.027 and $0.039 from current levels—returns of a magnitude well within historical precedents. If JASMY decisively cracks resistance in the days ahead, substantial upside opens up.

Jasmycoin Price Soars Over 60% As Attention Grows

Jasmy has been one of the top performing cryptocurrencies over the past month. The token has skyrocketed over 240% in February, making it the best performer amongst the top 100 cryptocurrencies.

This massive price surge has brought a great deal of attention to the previously little-known project. Jasmy now boasts a market capitalization approaching $900 million. While the price has pulled back slightly from its recent highs, Jasmy has remained up an impressive 14% over the last 24 hours.

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Community Power Boosts Hype

According to crypto analyst Crypto ZX, much of the recent hype around Jasmy comes from the vibrant community supporting the project. He points out that the Jasmy community is one of the most powerful he has encountered. This gives Jasmy an advantage in terms of generating excitement and speculation.

However, Crypto ZX cautions that hype alone cannot justify Jasmy’s parabolic price gains. He thinks that the team’s decision to unlock millions of coins over the previous two years has greatly manipulated the tokenomics and increased sell pressure. Even news of support from the Japanese government does not negate these issues, in his view.

Improved Tokenomics Could Attract Investment

Despite his skepticism around price manipulation, Crypto ZX acknowledges the tokenomics look better going forward now that Jasmy is nearing its maximum supply. With fewer coins left to unlock, new investors will have less reason to worry about inflationary pressures crashing the price.

In fact, several analysts who passed on investing in Jasmy last cycle due to tokenomics concerns are now taking another look. This renewed interest could provide further upside.

Source: CoinGecko

Tempering Expectations Around $1 Target

Much of the Jasmy community expects the token to reach $1 in this cycle. However, Crypto ZX cautions that this would require a market capitalization of over $50 billion – on par with a top 10 project like Solana. He does not believe such a high valuation is likely without a major catalyst.

Macro Trends Signal Additional Upside

Beyond the hype and speculation, Crypto ZX points to the current bullish conditions in the broader crypto market as a reason Jasmy may trend higher. Bitcoin recently hit a new yearly high, signaling that demand for cryptocurrencies remains strong. These macrodynamics provide a solid backdrop for further momentum.

Crypto ZX  stands by his assessment that manipulated price action makes a full recovery to its all-time high around $4.79 very unlikely. Traders should focus on setting achievable targets rather than banking on the token reclaiming its former glory.

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Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency

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