How JasmyCoin (JASMY) Price Could See Next 24x Surge Despite Binance Delisting Concerns

JasmyCoin has found itself in a precarious position after being placed in Binance's Monitoring Zone.

JasmyCoin (JASMY) has found itself in a precarious position after being placed in Binance’s Monitoring Zone. This action by the exchange could lead to a community vote about potentially delisting the token.

As reported by AMCRYPTO, this decision has sparked intense debates within the crypto community. Some members are arguing that delisting decisions should be based on actual market performance and community strength, not just votes.

About Jasmy-MGT recently addressed these concerns on X. They stated that as one of the largest exchanges, Binance’s decisions have a significant impact.

"Decisions should be based on real market performance & community strength, not just votes. We urge all #JasmyCoin holders to stand up & vote!"

One community member on X pointed out the lack of clarity from Binance regarding its criteria for placing a token in Monitoring Status. Viewers on the stream speculated that it could be related to low trading volume, liquidity issues, or compliance concerns.

Another X user, CryptoELITES, shared a technical analysis suggesting that JASMY could experience a major price increase. Their analysis identifies what looks like a macro cup and handle pattern on the chart.

Investors have been buying the dip, and the price appears to be trending upward. A recent triple bottom formation at the $0.0105 support zone provides evidence of this.

Moreover, JASMY is approaching a long-standing downtrend resistance line, which could be a key factor in determining the next stage of the token’s price trend. A breakout above this downtrend line would likely confirm the bullish reversal thesis.

The mention that "the dip has been bought" suggests significant buying activity at support levels, which is a common indicator of strong buying pressure.

Key takeaways from the chart:

Macro cup and handle pattern in progress.

First major resistance at $0.09.

Mid-range target at $0.18.

Final target at $0.31, which represents a 24x return from current prices.

Recently bounced from the $0.0105 support zone.

Approaching a long-standing downtrend resistance line.

The dip has been bought, suggesting good buying pressure at support levels.

This analysis highlights the potential for a substantial price increase in JASMY. However, investors should consider some important caveats.

For a cup and handle pattern to complete properly, JASMY price needs to break above the handle’s resistance, which is roughly in the $0.025-$0.035 range.

Broader market conditions, Bitcoin’s movement, and economic factors will also significantly impact JASMY’s price. The projection to $0.31 is very ambitious, and investors should manage their expectations and risk accordingly.

As the Binance community vote on JasmyCoin’s fate approaches, all eyes are on how this saga will unfold. Will the token remain listed on one of crypto’s largest exchanges, or will it face delisting despite recent price gains and a loyal community rallying behind it?

The post How JasmyCoin (JASMY) Price Could See Next 24x Surge Despite Binance Delisting Concerns appeared first on AMCRYPTO.