The price of JasmyCoin (JASMY) has bounced back, currently trading above the 0.016 USD mark on Tuesday noon, following a slight adjustment in the previous session. Signals from on-chain data and the derivatives market are further strengthening the bullish scenario, as many whale wallets are quietly accumulating JASMY, while the number of buy orders has surged to the highest level in the month – signaling that a breakout may be imminent.
On-chain and derivative data reveal bullish signals for JasmyCoin.
According to Supply Distribution data from Santiment, a whale wallet holding between 1 million and 10 million JASMY (the yellow line on the chart) has unexpectedly “scooped up” an additional 40 million tokens in just three days, from Sunday to Tuesday. This strong move not only increases the holding ratio but also demonstrates the clear confidence of investors, thereby creating additional potential upward pressure on the price of JasmyCoin as buying pressure intensifies.
At the same time, Exchange Netflow from CryptoQuant recorded 54.49 million JASMY withdrawn from exchanges on Monday. A significant outflow of funds from exchanges is often a positive signal, indicating that selling pressure is decreasing significantly.
The bullish picture becomes even brighter as data from CoinGlass reveals that the long-to-short ratio of JASMY reached 1.07 – the highest in over a month, reflecting a growing optimistic sentiment within the trading community.
JasmyCoin price forecast: Momentum indicators maintain an upward trend.
The price of JasmyCoin has found an important support point at the upward trend line connecting the lows from mid-June to early August, quickly bouncing up 10.29% just in the past week. As of Tuesday noon, this coin continues to recover, maintaining trading above the 0.016 USD mark.
If JASMY breaks through and firmly closes above the weekly resistance area at 0.0175 USD, the upward momentum could extend, aiming to reclaim the peak from July 21 at 0.028 USD.
On the daily chart, the relative strength index (RSI) has reached 55 points and is trending upwards, surpassing the neutral threshold of 50 – a signal indicating that bullish momentum is strengthening. At the same time, the MACD indicator also recorded a bullish crossover on Sunday, issuing a buy signal and opening the possibility of forming a new upward trend.
Conversely, in the event that JASMY adjusts, selling pressure may pull the price back to the support area around 0.015 USD before seeking the next recovery momentum.