Our previous JASMY coin price prediction has just flipped bullish due to a recent breakout on the Daily timeframe. The time has broken out of the downwards trendline on the weekend but still facing resistance from $0.011-$0.012 zone. At the time of writing, JASMY crypto is trading at $0.010, as most altcoins experience a minor correction following BTC price action.
JASMY coin has been in a brutal downtrend since its Binance listing in November 2021. Currently, the cryptocurrency is trading $99.8% below its Feb 2021 ATH of $4.79. This is one of the worst corrections ever seen in the crypto market.
Nevertheless, the coin price appears to have bottomed out at least for the short term, and the price is recovering. It is very difficult to predict when JASMY coin price will hit a new all-time high. However, the current bullish leg has the potential to take the price up by another 60%.
According to JASMY coin news today, the coin is available on Houbi Japan. The exchange is also giving away JASMY worth 2000 JPY to the new account holders. The project has been very popular in Japan due to its Japanese origins.
Technical analysis of the JASMY coin price chart shows a clear break of trend on 4H and 1D timeframes. This breakout happened as the price broke out of the descending triangle with a bottom at $0.0082. The bottom of the wedge has acted as strong support as the price has bounced off this level quite a few times.
If we consider the measured target of the breakout, then the JASMY coin price prediction of $0.016 looks pretty achievable. Furthermore, this price level also aligns with the 0.382 Fib retracement level, connecting the $0.016 high to the $0.082 low.
It is also worth mentioning here that just like other altcoins, JASMY also follows BTC price action. Therefore, a recovery in JASMY price is tied to the recovery in Bitcoin prices.
This post was last modified on Aug 01, 2022, 14:17 BST 14:17