JasmyCoin Price Prediction as JASMY Shoots Up 3.4%— Is It Time to Load

Simon Chandler

Last updated:

May 6, 2024 09:04 EDT

| 3 min read

JASMY has gained by as much as 3.4% with the past 24 hours, with the JasmyCoin price reaching $0.01974 on a day when the wider crypto market posts a 1% return.

The altcoin is now up by 11.5% in a week, as well as by 3.5% in a month and by 160% in the past year.

JASMY is the native token of the Jasmy platform, which offers a decentralized protocol for storing and sharing personal data.

It’s currently one of the more interesting new projects in the market in terms of fundamentals, and with the market regaining momentum after a rough patch, JASMY could see some decent gains in the next few weeks.

JasmyCoin Price Prediction as JASMY Shoots Up 3.4%— Is It Time to Load Up?.

JASMY’s chart is in an interesting position, insofar as its indicators have been high for several days now and look as though they should probably correct for a little while.

For instance, its relative strength index (purple) had been above 50 since late last week, yet it has fallen below 50 after reaching 70 yesterday.

This signals a short-term downturn, as does the fact that JASMY’s 30-day average (orange) climbed over the 200-day during the weekend and is now well above the latter.

Again, this calls for a downward correction, yet one counterargument to this comes from JASMY’s resistance (red) and support (green) levels, which have been rising in parallel.

It will, therefore, be interesting to see if the support can prevent a drop below $0.01950, with the past hour seeing the altcoin lose some momentum.

Such a loss may be short-lived, however, given that JASMY’s trading volume has risen to about $100 million in the past few days, up from $25 million at the end of April.

This suggests continued interest in Jasmy, which launched in early 2021 as a Neo-based data-privacy platform.

It has witnessed revived fortunes in recent months, with March seeing the launch of the protocol’s first DePIN (decentralized physical infrastructure network) platform, JANCTION.

The latter celebrated signing a memorandum of understanding with Korean Web3 bulletin board C2E earlier this month.

Such partnerships highlight how Jasmy continues to grow steadily as a privacy-enhancing network, with the expansion of Web3 likely to boost its presence further in the...

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