After blasting past long-term resistance, JasmyCoin eyes a monster run toward $0.2785—could a 1,500% rally be next?
JasmyCoin (JASMY) has ripped 398% off its multi-month downtrend, trading today at $0.01643 with $74.7 million in 24-hour volume, and commanding a market cap near $820 million—up from sub-$9 million levels just weeks ago . The move was sparked by a clean break above the $0.0082 zone (the year’s low), which now serves as a firm springboard . On TradingView, top authors note a bullish bar-array pattern and sustained closes above key moving averages, confirming buyers remain in control .
Analysts point to Fibonacci extensions that place $0.2785 as the next major juncture—a potential 1,500% leap from current levels if momentum holds—though traders should watch for volume confirmation on each leg up . On-chain metrics tell a similar story: exchange reserves are declining while the MVRV ratio climbs, indicating holders are deep in profit and reluctant to sell .
Chart watchers also highlight a weekly bullish engulfing pattern, often a reliable reversal signal in crypto assets . Meanwhile, historical data from Investing.com shows JASMY trading between $0.01576 and $0.01725 as recently as April 23, underscoring the tight consolidation before today’s explosion .
Prompts
🤔 Are you sizing up JASMY near $0.0164, or waiting for a pullback?
💬 Do you think burning through $0.05 fast enough to justify a $0.2785 target?
Educational Insights
Bullish Engulfing: A two-candle reversal where a large green bar fully “engulfs” the prior red bar—often signals shifting momentum .
Fibonacci Extensions: Traders use 61.8% and 100% extension levels measured from recent swings to project next resistance zones—here, pointing toward $0.2785 .
MVRV Ratio: The ratio of Market Value to Realized Value; rising MVRV suggests that profits are accumulating, which can precede further price gains .
Market Analysis
Volume Confirmation: With $74.7 M traded in 24 hours, today’s surge ranks among the highest volume days since late 2024 .
Support & Resistance: $0.0082 now acts as rock-solid support; the immediate hurdle sits near $0.049 (38.2% retrace), with a clean break targeting $0.2785 .
Supply Dynamics: CoinMarketCap reports a circulating supply of 49.44 billion JASMY out of a max 50 billion, capping dilution risk .
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