Jasmy Coin (JASMY) has emerged as one of the top performers in the cryptocurrency market, fueled by positive news and promising technical indicators. The digital asset experienced a significant 10% price increase, trading at around $0.267 during European trading hours on Monday. This surge follows an exciting announcement: Jasmy’s partnership with Now Payments, which allows businesses in Japan to accept payments using Jasmy Coin.
The cryptocurrency market, which has been closely linked to Bitcoin’s movements, also received a boost from Bitcoin’s recent recovery. The renewed interest from whales in accumulating Bitcoin has sparked optimism and potentially indicates the end of a corrective phase for the leading cryptocurrency. This positive sentiment has spilled over into altcoins like Jasmy Coin, driving its recent price surge.
Jasmy Coin, known for its responsiveness to broader market trends, has shown resilience despite recent market volatility. Coin Gecko data shows that Jasmy Coin experienced a 10% surge, highlighting its ability to react positively to market catalysts such as Bitcoin’s rebound and strategic partnerships like the one with Now Payments.
Technical analysis indicates further potential for upside in Jasmy Coin. Currently trading below the 200-day Simple Moving Average (SMA), Jasmy Coin’s recent price action has re-entered a ranging zone after reaching a new yearly high earlier this year. This movement is significant as it signals a bullish outlook for the asset, especially since its last dip below the 200-day SMA occurred in January.
The Relative Strength Index (RSI), a key momentum indicator, has also turned bullish. As of the latest data, the RSI stands at 50.87, recently crossing above the midpoint. This upward movement indicates increasing buying momentum, which is particularly noteworthy as it coincided with the recovery phase following Bitcoin’s recent crash. Historical data shows that whenever the RSI crosses above its moving average, as it did on July 9, Jasmy Coin has historically experienced significant rallies, with gains of up to 148% in previous bullish cycles.
Additionally, the Moving Average Convergence Divergence (MACD) indicator has confirmed a bullish crossover on the daily timeframe. This technical signal further supports the notion that Jasmy Coin’s price trend has shifted from bearish to bullish, indicating the potential for upward movement in the near future.
Looking ahead, analysts and traders anticipate the possibility of Jasmy Coin extending its gains. If the current bullish momentum continues, analysts project that Jasmy Coin could potentially rise by up to 97% from its current trading levels, surpassing its previous high set earlier this year and marking a significant milestone for the cryptocurrency.
Key resistance levels to watch on the upward trajectory include $0.04 and $0.051. Breaking through these levels would likely pave the way for further upside, potentially reaching the $0.055 mark.
In conclusion, Jasmy Coin is at a crucial point in its price trajectory. Fueled by positive market dynamics, including Bitcoin’s recovery and a strategic partnership with Now Payments, Jasmy Coin has exhibited strong resilience and the potential for significant gains. With technical indicators such as the RSI and MACD signaling bullish trends, investors and traders are closely monitoring Jasmy Coin as it navigates potentially lucrative opportunities in the cryptocurrency market.
