JasmyCoin Price Skyrockets Amid Shrinking Exchange Reserves
JasmyCoin (JASMY) is making headlines with a 40% price surge, climbing to $0.0145 on June 24—its highest level since June 12. The rally comes as exchange reserves for the token plummet, signaling reduced selling pressure and growing investor confidence. But what’s fueling this sudden uptick, and can the momentum last?
Why Is JasmyCoin Rallying?
The recent price surge aligns with two key factors:
- Declining Exchange Reserves: Fewer JASMY tokens are held on exchanges, suggesting holders are moving assets to private wallets for long-term storage—a bullish signal.
- Broader Market Recovery: The crypto market rebounded after geopolitical tensions between Iran and Israel eased, boosting risk appetite.
Technical and Sentiment Analysis
From a technical standpoint, JasmyCoin has broken past critical resistance levels, with its Relative Strength Index (RSI) hovering near 60—indicating room for further upside before overbought conditions kick in. On-chain data also reveals increased whale activity, with large transactions spiking over the past week.
Key Levels to Watch
- Support: $0.012 (previous resistance-turned-support)
- Resistance: $0.016 (next psychological barrier)
What’s Next for JasmyCoin?
While the rally is impressive, traders should remain cautious. The crypto market remains volatile, and profit-taking could trigger pullbacks. However, if exchange reserves continue to drop and buying pressure sustains, JASMY could target $0.020 in the coming weeks.
Bottom Line: JasmyCoin’s surge reflects a mix of technical strength and improving market sentiment. Keep an eye on exchange reserves and macroeconomic trends for clues about its next move.
