JASMY Reverses Its Course: Can It Bring More Positive Surprises?

JasmyCoin (JASMY) has gained fresh bullish momentum and comfortably held gains beyond the key EMAs.

After a significant V-shaped correction last month, bulls regained momentum. Also, a notable reversal from the 200-day EMA mark was observed last week.

From there, buyers accumulated the coin, recuperated over 40%, and still wanted more. However, the coin paused and showed a lack of volume support in the last two trading sessions.

The intraday trading volume dropped over 23%, which implies an imbalance in the buying pressure. Amidst the market recovery, the token could go higher and revisit the primary hurdle of $0.03500.

A break and close above $0.0300 would permit the bulls to trigger an up move. It may deliver a flight toward the $0.03500 mark ahead.

JASMY Bulls are Not Ready to Retain Dominance

While some profit bookings was noted in the last two trading sessions, a lack of follow-on buying action was pointed out, too. It emerged as a prime concern. That’s why the bulls were still not comfortable relinquishing dominance.

However, bulls still have control and have tried to gain traction. The coin stayed above the 38.2% Fib level, which guides slightly positive data. The RSI curve stood around 60 in the overbought zone, suggesting a further upswing.

JASMY at Press Time

At press time, JASMY was trading at $0.02910 with an intraday drop of 2.26%, reflecting neutrality on the chart. It has a monthly return ratio of -19.20% and 643.2% yearly, reflecting a long-term uptrend.

JASMY /BTC is at 0.000000450 BTC, and the market cap is $139.25 Million. Analysts are bullish and suggest that JASMY may soon resume the bullish wave and reach the upside of $0.03800.

In terms of market cap, JASMY was ranked at 284. It has a total supply of 50 Billion, and the volume-to-market cap ratio is 0.677. @Stephiscrypto, in his tweet, mentioned that there is a vast space vacant for the coin to spread the reversal.

Investors Showed Confidence in JASMY

Per the data from IntoTheBlock, 70.15% of JASMY addresses were in profit. On the other hand, around 28% of its holders were facing unrealized losses.

GIOM Indicator Data | Source: IntoTheBlock

This large chunk of profitable holders protected the coin from an unwanted selloff while enjoying their gains.

Social Insights Revealed Flat Moves

Social Dominance data witnessed no significant changes and stayed flat at around 0.105%. This indicates the lack of investor participation and a decline in the discussion activity on social media platforms.

Meanwhile, active addresses data implies an increase in the last three sessions. It noted a change of over 3.38%, highlighting the renewed interest.

The immediate support levels for the JasmyCoin are $0.02850 and $0.02750. In contrast, the key upside hurdle is around $0.0300, followed by $0.03200.

JASMY climbed above the significant moving averages and decisively held gains beyond it. A short covering move could be seen when the coin crosses $0.03050, which may lift the coin toward the $0.03200 mark.