Jasmy Coin Up Over 40% As Analysts Predict a 9000% Surge

Jasmy Coin (JASMY) price surged over 40% daily, driven by colossal trading volume, even over one day.

Market analysts have taken heart from this remarkable price action, forecasting much more significant gains for the cryptocurrency, with some predicting it could run up as high as 9000%.

Jasmy Coin Breakout Performance and Analyst Predictions

Looking at charts or charts, you can see a distinct consolidation and then a massive upside movement with a considerable volume, which strongly supported it.

The market sentiment is usually bullish and could spawn more price increases, which is why this pattern often indicates that.

Market analyst Javon Marks has seen these trends and given JasmyCoin an ambitious price target of $4.47842.

The target represents a potential rise of over 9000% in its current price. The forecasts are based on the coin’s ongoing performance and general market trends, which support high growth potential emerging cryptocurrencies.

Additionally, the community has been changing with recent developments surrounding the token. As part of its recent expansion into the Japanese DePIN market, the company partnered with IoTex.

The surge in the token’s price could also be attributed to this new development in the token, making people optimistic.

Market Sentiment and Technical Outlook

On the JasmyCoin charts, JASMY/USDT was consolidating in an orange rectangle before the uptrend. The breakout from this phase of price compression then formed the beginning of the uptrend.

After the consolidation range expired, it initially served as a resistance zone but became a potential support zone following the breakout. The top of this range is around $0.048.

Our first glance at technical indicators shows that the Awesome Oscillator (AO) is below the chart and is exhibiting increasing momentum during the uptrend.

The bars turn red to green and peak as the price hits the channel’s top. The red recent bars are decreasing in height, which suggests the continuation of the bullish momentum might be slowing down, too.

In recent price action, a red candle exited the lower boundary of the ascending channel, suggesting a reversal or correction.

The volume has varied; you can see spikes during significant price moves. The move breaks out of the consolidation zone to trade in a high volume supporting its strength.

The price could stabilize if the price finds support at the upper boundary of the previous consolidation zone around $0.048, then try going back into the picture of ascending channel since below the price may reach the old highs, near $0.056.

If the JASMY price cannot hold the $0.048 level further declines would be expected. This makes the lower boundary to the consolidation zone near $0.045 the next necessary support.

First, support is at $0.048 (immediate support) or the lower channel line or $0.056 resistance. Over the next few candles, the price will reveal whether it can stay inside the channel or whether a deeper correction is in the works.