Jasmy Coin price has staged a strong comeback in the past few weeks as the crypto market grows. It has risen to $0.20, up 135% from its lowest level this year, hovering at its highest since March. This article provides a technical analysis of the JasmyCoin and the key levels to watch.
Jasmy Price Prediction
The daily chart shows that the Jasmy price fell to a low of $0.00817 in April and has risen to the current $0.019. It has jumped to the 50-day and 100-day moving averages and is about to form a mini-golden cross.
The Jasmy Coin token has retested the 23.6% Fibonacci retracement level at $0.021. Most importantly, it has formed a bullish flag pattern, a popular continuation sign, comprising a vertical line and a rectangle pattern.
The Average Directional Index (ADX) has moved to over 30, a sign that the rally is gaining momentum. The MACD indicator has moved above the zero line, while the Relative Strength Index (RSI) approaches the overbought level.
Therefore, the Jasmy price will likely continue rising as bulls target the next important level at $0.03340, the 50% Fibonacci retracement level, approximately 75% above the current price. A move below $0.15 will invalidate the bullish outlook.
Potential Catalysts for JasmyCoin
There are a few catalysts for the JasmyCoin token in the coming months. First, Jasmy will likely benefit from the ongoing Bitcoin price surge, with analysts anticipating it will keep rising.
Standard Chartered analysts anticipate that the Bitcoin price will end the year at $200,000, while Ark Invest predicts that it will rise to $2.4 million by 2030. A strong Bitcoin surge will likely lead to more upside for altcoins like Jasmy.
Second, from a macro level, the Jasmy price will benefit from the ongoing trade talks between the US and China. In a statement, Donald Trump hailed the two-day talks as successful, stating that they laid the foundation for better trade relations. Such a move will remove today’s biggest market risk and lead to higher asset prices.
Further, JasmyCoin’s price will also benefit from the ongoing theme of the Internet of Things (IoT). Some analysts believe that the IoT industry, in which Jasmy is involved, will grow from the current $714 billion to $4 trillion in 2032. It is experiencing higher demand in both the spot and futures markets.
