JasmyCoin Analysis : Could $1 Be Within Reach?
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Technical Overview :
JasmyCoin (JASMY) has been consolidating for over 400 days in the accumulation and disbelief zone, hovering around the -0.618 Fibonacci retracement level. The market structure suggests a long-term setup with potential breakout opportunities.
Key Stats and Figures :
Market Cap : $48 Million (relatively small, high potential for growth).
Circulating Supply : Only 10% of the total supply is on the market, which is a critical factor in future price movements.
Accumulation Zone : Around $0.008 - $0.01 (current levels).
First Resistance : $0.25, a key sell zone.
Next Psychological Target : $1, a potential zone for massive sell pressure.
Market Behavior :
Whales and large investors have been accumulating JASMY during this prolonged consolidation phase. Their strategy is likely aimed at driving the price toward higher resistance levels. This demonstrates confidence in the project and its potential.
Projections :
Short-term resistance : $0.25.
Long-term psychological target : $1, assuming favorable market conditions and no sudden supply shocks from unlocked coins.
Pro Tip :
Focus on exchanges with historical price data (e.g., Gate.io vs. Binance) for more accurate charting and insights. Historical data provides better context for identifying accumulation zones and resistance levels.
Advice to Investors :
Use Fibonacci retracement levels to time entries and exits effectively.
Monitor circulating supply changes, as unlocking more coins could increase sell pressure.
Be cautious of the speculative nature of this analysis; patience is key when dealing with long accumulation phases.
Conclusion :
JasmyCoin is showing significant potential for upward movement, supported by accumulation and a small circulating supply. While $1 is a psychological target, breaking the $0.25 zone on the weekly timeframe is a critical milestone to watch.