JasmyCoin Price Prediction: Is This 5% Surge Bullish Comeback?
JASMY powers a crypto network that aims to empower users with control over their data by leveraging blockchain technology within the Internet of Things. Its integration with artificial intelligence (IoT) boosted the coin’s presence in the space such that it ranks #61 with a market of over $1.22 billion. Based on JasmyCoin Price Prediction, the coin has recently bottomed and is ready for a major bullish breakout.Like many cryptocurrencies, JasmyCoin declined in value in the last few weeks amid fears of the German government dumping Bitcoin on exchanges. The selling pressure intensified as defunct exchange Mt. Gox started to distribute payments to creditors. This process could take up to 90 days, insinuating extended volatility into the second half of the year. Based on CoinGecko data, JasmyCoin price declined 16% in a fortnight on top of a 30% drop in the last 30 days to hover at $0.0247 on Thursday. There are vivid signs of a 50% breakout ensuing later this week.JasmyCoin Price Prediction: Levels To Watch Out As JASMY ReboundsDespite the sluggish recovery portrayed by other cryptocurrencies, JasmyCoin is up almost 5% on the day and nurturing key buy signals. The daily chart shines the path to a larger breakout backed by a buy signal from the Moving Average Convergence Divergence (MACD) indicator. Traders would be looking out for the blue MACD line to flip above the red signal line to zero in on JASMY longs ahead of the weekend.JasmyCoin price prediction chart | TradingviewWith the general outlook of the market gradually turning bullish, JasmyCoin seems poised to breach the stubborn resistance highlighted in the red band at $0.025. This same area hosts the 23.6% Fibo level and above it are two key Exponential Moving Averages (EMAs) including the 20-day in blue and the 50-day in red. To annihilate the resistance and nurture a steady trend reversal, JASMY must breathe from the descending channel which guided the massive correction from June’s peak of $0.045.Such a breakout above the falling channel would further boost the technical outlook of the asset in the coming days with the previous peak of $0.045 well within reach.JasmyCoin Rebounds After BottomingJasmyCoin is believed to have bottomed after testing support at $0.02 for the second time. May was the last time the token traded at this price level marking the areas as a critical support level. JasmyCoin price prediction chart | TradingviewThe same chart shows JASMY holding above the 20-day and the 50-day EMAs. Bulls have breached the channel’s resistance and now target the 200-day EMA in purple at $0.0277. Other key levels include the seller congestion at $0.03 and $0.038. If broken, FOMO could soar propelling JASMY further above $0.045. Frequently Asked Questions (FAQs) Investors can trade JASMY on various crypto exchanges including Binance, KuCoin, and Coinbase. No, but it ranks #61 on CoinMarketCap. It has the potential to be a top 50 coin in the medium term. Signs are that the IoT coin bottomed at $0.02. The next few weeks will help validate this thesis and may lead into the bull run. Related Articles Why Tech-Savvy Investors Stacking 3 Trump Coins Before Bitcoin 2024 Conference Stacks Price 10% Surge Could Ignite Interest In Altcoins Ahead Of US Inflation Data Terra Classic Price: Terra Labs To 4 Companies As LUNC Eyes 40% Breakout John Isige John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.