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What’s going on with JasmyCoin ($JASMY) price?

By: Invezz

JasmyCoin price has staged a strong comeback in the past few days as the crypto fear and greed index rises. The highly-popular $JASMY price has jumped to a high of $0.0062 on Thursday and is hovering near its highest point since January 3rd. It has jumped from this month’s low of $0.0045.

Crypto investors are getting greedy

Jasmy token price has jumped sharply in the past few months, helped by the rising greed in the crypto market. The crypto fear and greed index has jumped to 75, pushing many investors to allocate cash to all digital coins. It is hard to see an altcoin that has not bounced back recently.

Therefore, Jasmy has jumped because of the ongoing demand for cryptocurrencies. Besides, it is one of the most popular small-cap cryptocurrencies in the market. It has also been trending in popular platforms like StockTwits and Reddit. 

Data also shows that the coin’s volume has jumped sharply in the past few days. The volume in the 24 hours to Thursday morning stood at over $40 million. The volume stood at $54 million on Wednesday and $162 million on Saturday. This is a sign that there is a strong demand for the coin among traders.

The main reason for this price action is that Bitcoin, the biggest cryptocurrency in the world, is in a strong bull run. It jumped to $52,000 for the first time since 2021 and analysts believe that the trend may continue this year as buyers target the all-time high of $67,000.

Bitcoin and Jasmy have a close correlation. For one, Jasmy is often known as Japan’s Bitcoin. As such, in most cases, the token tends to rally when Bitcoin is in a bull run and vice versa.

Jasmy price forecastJasmy price

JASMY chart by TradingView

The daily chart shows that the JASMY token bottomed at $0.0045 on January. It has now bounced back and moved to its highest level since January 3rd. The 25-day and 50-day moving averages have made a bullish crossover.

Further, the Relative Strength Index (RSI) and the Stochastic Oscillator are nearing their overbought levels. Therefore, the outlook for the Jasmy token is bullish, with the next point to watch being the December high of $0.0074. This price is about 26% above the current level.

The post What’s going on with JasmyCoin ($JASMY) price? appeared first on Invezz

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