Jasmy price forms a god candle as its popularity rises

February 19, 2024 10:02 PM AEDT | By Invezz

Jasmy price forms a god candle as its popularity rises — Image source: Invezz

Jasmy popularity continues

The main reason for the Jasmy token price surge is that investors have embraced a risk-on sentiment in the past few months. A closer look at the fear and greed index has jumped to the greed zone of 75.

This rally happened as other cryptocurrencies surged. Bitcoin has moved above the key resistance point at $52,000 while Ethereum has jumped to $2,910, its highest point in years. Other tokens like Internet Computer and Render Token.

The other reason is that the token has become highly popular among investors. It was one of the top trending cryptocurrencies in popular social media platforms like StockTwits and Reddit. This is a sign that traders are pumping the token.

Further, the number of Jasmy holders has been rising in the past few months. The number of holders in the ecosystem has jumped to over 60,700, according to data by Etherscan. This trend may continue rising in the coming months as demand for the token continues.

The other important catalyst for the Jasmy token will be the upcoming Bitcoin halving, which will happen in April. In most cases, cryptocurrencies tend to jump ahead of the halving event. This explains why many analysts expect that Bitcoin will rise to the all-time high of $67,000 this year.

Jasmy price forecast

Jasmy chart by TradingView

The daily chart shows that the JasmyCoin price has jumped sharply in the past few months. It has managed to move above the key resistance point at $0.0074, which was the highest swing in December and May 2023. The token has invalidated the double-top pattern that was forming.

Jasmy’s Relative Strength Index (RSI) and the Average Directional Index (ADX) have continued soaring. Therefore, the outlook for the Jasmy token is bullish, with the next reference level to watch being at $0.10. In the near term, the token will likely retreat and retest the support at $0.0074.

The post Jasmy price forms a god candle as its popularity rises appeared first on Invezz

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.