What to Know
- JASMY coin price jumps 12.7% in 24 hours, outpacing weekly and monthly gains.
- Technical breakout above $0.01898 with strong trading volume.
- New partnerships with Panasonic & Chainlink boosting adoption in Asia.
In the last 24 hours, JasmyCoin (JASMY) has gone up an impressive 12.7%. According to CoinMarketCap, this rise is bigger than the 28.5% rise over the past week and the 5.7% rise over the past month. The move happens because bullish technical indicators, new developments in the ecosystem, and active derivatives trading all point to a growing market confidence in the Japan-based crypto project.
People and businesses can safely store, manage, and share data using blockchain and IoT technology with JASMY crypto, which is often called the “Bitcoin of Japan.” Traders and long-term holders are both interested in it again because it is becoming more popular in Japan and South Korea, and because it has high-profile partnerships.
JASMY Crypto’s Technical Breakout
JASMY coin broke through its 23.6% Fibonacci resistance level of $0.01898 on August 13. Its Relative Strength Index (RSI) was at 65.2, which was high enough to show momentum but not high enough to be considered overbought. The MACD histogram also turned positive, which means there is a bullish divergence. People often see this as a sign that upward momentum is getting stronger.
The price went above its 7-day Simple Moving Average of $0.01632, which has been an key level for the coin in the past. At the time of writing, JASMY is trading at $0.01838. The trading volume also jumped by 75.7% to $126.5 million, which shows that there is a lot of money behind the rally. The 38.2% Fibonacci level at $0.01803 is now a key support zone. This could mean that JASMY has more room to go up if it stays above this.
JASMY Coin’s Ecosystem Growth
The project’s ecosystem momentum is another major factor. Recently, Jasmy announced it would collaborate with Panasonic on IoT data platforms and Chainlink on cross-chain integration. Such collaborations make the platform more useful and visible.
Data also shows that JASMY’s exchange reserves are at their lowest levels in 2024, which means there are fewer tokens available for immediate sale. Tokens on exchanges have dropped by 2.33% since May, which means there is less pressure to sell.
Interest from both institutions and individuals is growing, especially in Asia. In Japan and Korea, more and more people are using Jasmy’s technology in real life, which has helped it grow. But there is a lot of competition in the crypto market, and high-yield projects like Bitcoin Swift’s presale, which offers 121% APY, are also getting a lot of attention.
JASMY’s Derivatives Market
Things have been getting busier around JASMY in the derivatives market as well. Open interest, aka the total value of all outstanding futures contracts, rose 14% to $56.86 million. However, 52% of those positions were shorts, meaning some traders are still betting against the price.
Funding rates are still positive, which means that bulls are willing to pay more to keep their long positions open. It’s interesting that the recent rally happened even though shorts were in control. This could mean that some shorts were “trapped” and had to buy back in, which helped the rally.
That being said, in late July, $224,000 worth of long positions were sold off, which shows that the market can quickly turn against traders who are too heavily leveraged.
What’s Next for JasmyCoin?
The latest news about JASMY coin is mixed but hopeful. Strong technical signals, fewer tokens on exchanges, and more partnerships are all helping the rally. At the same time, the derivatives market shows that skepticism remains, and short-term pullbacks are still possible.
For now, the critical level to watch is $0.01803. Holding above it could open the door for further gains, especially if Bitcoin and the broader crypto market continue to climb toward the $4.11 trillion total market cap resistance.
JasmyCoin has once again caught the attention of traders, investors, and blockchain fans all over the world. It has strong momentum and an ecosystem that is growing. It will depend on how the market reacts in the next few days whether this is the start of a longer-term trend or just a short-term spike. For now, though, JASMY crypto is back in the news.
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