The JasmyCoin price is now trading around $0.032 after being relatively flat for the past few days.
Popular YouTuber Zach Humphries, who has over 180k subscribers, posted a viral JASMY video in which he tried to predict where the JasmyCoin price is headed next.
What you'll learn 👉
JASMY: Technical Analysis
JASMY has demonstrated a history of sudden, significant price movements throughout its trading history. While the token had been trending downward over the past month, it’s now showing signs of recovery. Despite previous bear market declines, the coin maintains an impressive 547% gain year-over-year.
The recent JASMY price movement appears to be driven by technical indicators rather than news events. JASMY recently broke out of a descending wedge pattern, which is typically considered bullish. Other technical indicators are also showing positive signals – the Relative Strength Index (RSI) has turned bullish, while the Moving Average Convergence Divergence (MACD) has flipped positive.
Adding to these signals, the open interest in JASMY futures has increased by 44%, now standing at $63 million.
JASMY Price Prediction – Supply Factor
One crucial factor that sets this potential price movement apart from previous cycles is JASMY’s supply dynamics. During the last bull run, JASMY’s price was significantly influenced by token unlocks, which continuously introduced new coins into the market and created selling pressure.
However, the landscape has changed dramatically. Currently, 99% of the total 50 billion tokens are already in circulation, effectively eliminating the risk of future supply dilution. While JASMY’s previous all-time high was $5, it’s important to note that the token supply structure was entirely different then.
Looking ahead, market observers suggest that if adoption continues to grow both in Japan and globally, a market cap of $20-25 billion could be achievable. The token’s presence on major exchanges like Binance and Coinbase provides significant trading accessibility, while Japan’s regulatory environment and adoption rates will likely play a crucial role in its future performance.
It’s worth noting that the YouTuber disclosed holding JASMY positions, having entered around $0.01, and suggests a $0.50 price target could be realistic in the next bull cycle.
Read also: Expert Shares JasmyCoin Update, Predicts JASMY Price Rally to This Target
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