JasmyCoin (JASMY) Price Rebounds 25% as Crypto Market Sentiment Improves

JasmyCoin (JASMY), a popular mid-cap digital asset, surged 25% on Thursday, reaching a high of $0.0320, marking its highest level since Jan. 9.

JasmyCoin (JASMY) price surged 25% on Thursday, continuing its strong rally and reaching its highest level since early January. The mid-cap digital asset surged to a high of $0.0320 on Thursday morning, fueled by a broader uptick in sentiment and a rally in mid-cap cryptocurrencies.

JASMY price now up 25% as mid-cap crypto tokens rally

Data from CoinMarketCap shows that JasmyCoin price rallied to a high of $0.0324 on Thursday, continuing its recent surge and reaching its highest level since Jan. 9. It then pared some gains, trading up 25.11% at $0.0319 by early afternoon.

JasmyCoin price rallied to a high of $0.0588 on Nov. 15 last year, following a strong rally in most alternative cryptocurrencies. However, it experienced a sharp pullback, reaching a low of $0.023 during the ongoing sell-off in altcoins.

Jasmy price now up 25% on mid-cap crypto token rally

The price found support at the 61.8% Fibonacci retracement level at $0.0150, a critical zone where many bullish reversals occur.

JasmyCoin has also formed a falling wedge pattern, characterized by two downward-sloping and converging trendlines. These trendlines are now nearing convergence, indicating that a bullish breakout may be imminent.

If this breakout occurs, the next key resistance level to watch will be $0.0445, aligning with the upper boundary of the cup and handle pattern. This target represents a potential 50% increase from the current price. A further rally could push JasmyCoin toward its 2024 high of $0.0588, marking a 96% gain from its current level.

However, JasmyCoin’s bullish outlook would be invalidated if the price falls below the key support level of $0.0231, its lowest point since January.