JasmyCoin Price Forecast: Gains extend as whale accumulation boosts positive outlook
|- JasmyCoin price extends its gains on Thursday after finding support around the weekly level at $0.0048.
- Santiment data shows certain whale wallets are accumulating JASMY tokens.
- The technical outlook suggests further gains, with momentum indicators signaling early bullishness.
JasmyCoin (JASMY) is extending its gains, trading above $0.0061 after finding support at a key level earlier this week. Bullish sentiment strengthens as Santiment data indicate that certain whales are accumulating JASMY tokens. On the technical side, JASMY points to further upside, with momentum indicators showing early bullish signals.
Whales accumulate 140 million tokens
Santiment’s Supply Distribution data supports a bullish outlook for JasmyCoin, as certain whales are buying JASMY at recent price dips.
The metric indicates that whales holding between 10 million and 100 million tokens (blue line) have accumulated 140 million Jasmy tokens since Monday. During the same period, 1 million and 10 million JASMY tokens (yellow line) have shed, 30 million tokens. This shows that the first set of whales seized the opportunity and accumulated JasmyCoin at a discount.
JasmyCoin Price Forecast: Rebounds after finding support around a key level
On the daily chart, JasmyCoin price is trading above $0.0061 as of Thursday. The 9-day Simple Moving Average (SMA) is below the 50-day SMA, and both slopes downward, keeping the broader bias under pressure. However, JASMY holds above the short-term average but remains capped beneath the 50-day measure.
The Moving Average Convergence Divergence (MACD) line and signal line are showing a bullish crossover. The Relative Strength Index (RSI) stands at 47 (neutral), edging higher and hinting at fading bearish pressure. Initial resistance aligns with the 50-day SMA at $0.0069, while immediate support rests at the 9-day SMA near $0.0056.
Measured from the $0.0103 high to the $0.0045 low, the 38.2% Fibonacci retracement at $0.0067 caps rebounds, with the 61.8% retracement at $0.0081 layering resistance overhead. The descending trend line from $0.0208 limits advances, with resistance seen around $0.0076.
A daily close above the first Fibonacci barrier could open a test of the higher retracement and the trend-line cap, while failure to attract bids would expose the horizontal weekly support at $0.0048.
(The technical analysis of this story was written with the help of an AI tool.)
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