JASMY News: Asset Surges 80%, Analysts Hint 40% Rally Ahead
Key Insights:
- With a 30% upside move, JASMY has finally broken out from the prolonged resistance it has been facing from the descending trendline.
- This trendline breakout has finally opened a path for JASMY to soar another 40% of its rally in the coming days.
- JasmyCoin’s Open Interest (OI) has soared by 70%, and the long/short ratio is above 1.03. This indicated that traders have been betting more on long positions than short ones.
JASMY news is making waves in the crypto world due to its impressive performance over the past week. The native token of JasmyCoin has skyrocketed during this period, while significant assets have struggled to gain momentum.
However, the token has continuously maintained its momentum. This might be why it is now poised for a massive upside rally. At press time, JASMY was trading near $0.0163 and had registered a price surge of over 30% in the past 24 hours.
During this period, bullish price action and changing market sentiment increased interest. Trader and investor participation surged, causing a 125% rise in the asset’s trading volume.
JASMY News: Asset Finally Breaches Prolonged Resistance
JASMY’s remarkable rally has propelled it into the crypto market. It successfully broke through two primary resistance levels that had persisted for an extended period.
The daily chart revealed that, with a 30% rally, the asset has broken through a prolonged resistance level. This breakthrough in JASMY news highlighted a horizontal resistance at the $0.0155 mark. It has persisted since the beginning of December 2024.
Following the breakout, it is not yet confirmed whether this upside rally will continue or if a price correction is ahead. This is because the token has already soared over 100% in the past week.
Expert technical analysis & JASMY news suggested that the asset’s upside momentum will likely persist. However, this continuation depends on closing a daily candle above the $0.0168 level.
If this happens, JASMY could see another 40% of rally until it reaches the $0.0235 level. Conversely, if it fails to do so, JasmyCoin may enter a price correction phase until it breaks out above this key level.
Despite this notable upside rally, the asset is still trading below the 200 Exponential Moving Average (EMA) on the daily timeframe.
This indicator suggested that the asset was still in a downtrend and its momentum remains weak. However, JASMY’s price action appears to be the complete opposite.
Bullish On-Chain Metrics
Analyzing JASMY’s performance, Coinglass reported that investors and long-term holders have steadily accumulated the token. This trend highlighted growing confidence in its potential.
Data showed that JASMY’s exchange balance has dropped from 9.08 billion to 8.70 billion since March 29, 2025. This indicated potential accumulation.
A decrease in the asset’s balance on exchanges can lead to buying pressure. Per JASMY news, this development may contribute to the ongoing upside rally the asset is experiencing.
Additionally, trader interest and confidence have skyrocketed over the past 24 hours. According to the data, JASMY’s open interest (OI) has increased by 70%. This surge reflected a rise in open positions following the breakout and ongoing upside rally.
Meanwhile, JASMY’s Long/Short ratio stood at 1.03, signaling strong bullish sentiment among traders. This metric further revealed that traders place more bets on long positions than on short ones.
JASMY news becomes more compelling when open interest (OI) data is analyzed alongside the Long/Short ratio. The increasing number of long positions traders build signals a bullish outlook for JASMY holders and investors.
At press time, the major liquidation areas were $0.01528 on the lower side, acting as support. On the upper side, the resistance stood at $0.0172. Coinglass’s metrics indicated traders were over-leveraged at these levels.
