After the fall, the JasmyCoin price witnessed a bullish presence this week in correlation to the BTC price activity. The JASMY price took support at the dynamic support of the 200-day EMA band. It illustrated that the bullish long-term charm is still intact.
JASMY ranked 62nd among the top 100 global cryptocurrencies at press time. It has witnessed a growth of nearly 4% in price and market cap, followed by a 24-hour surge of 22% in trading volume. Its spot volume was $93.475 Million, and $1.219 Billion in market cap.
The liquidity of Jasmy was 7.65%, which showed low to moderate liquid present in the market and could present less stable markets. The circulating supply showed that 98.60% of the crypto was floating in the market at the time of writing. It counts 49.299 Billion JASMY out of the total supply of 50.0 billion JASMY.
What Does Derivatives Data Analysis Showcase for JASMY?
The data at a glance showcased that 9.99% more contracts are added to the market, which makes a total OI amount of $30.76 million. Meanwhile, the derivatives volume has displayed significant growth of 52.23%, which amounted to $125.28 Million.
Moreover, the long liquidation was higher from June 2024, with weak shorts in that period. It depicted the fall in Jasmy after touching its ATH price of 2024. Until July 5th, the longs were heavier than the longs, but BTC took support on July 5th. The larger market reacted positively, and so did JASMY.
Recently, in the last couple of days, the number of shorts has been increasing, and at the time of press, the long shorts have been nearly equivalently liquidated in the market. The longs amounted to $65.90K, while the shorts were at $66.01K.
Overall, this data signified that the bears were heavier earlier, but bulls have started to gain traction and look poised for further price advancement.
JasmyCoin Financial Data Overview
JasmyCoin’s holders’ composition by time shows that 54% of holders have been holding the crypto for more than 12 months, while only 7% have held it for less than a month.
Similarly, 54% of transactions made in the crypto asset are from the East time zone, while the West does the remaining 46%. Also, the average time for which JASMY was held before transfer was 12 months.
The Onchain data shows that 66.79% of the crypto holders are in profit, which is 47.55K addresses. Meanwhile, the crypto traders are at a loss of 29.42%(20.95K addresses), while 3.79K addresses are at break-even prices or the money.
At press time, the crypto market intelligence platform IntoTheBlock indicated that the concentration by large holders stands at 79% for Jasmycoin, and the 30-day price correlation with Bitcoin stands at 0.9.
What Do Active Addresses and Volatility Reveal About Jasmycoin?
There has been a resurgence in activity on JasmyCoin. Up to June’s end, the active addresses count declined rapidly from the peak of nearly 2400 active addresses, which is in accordance with the 24-hour average.
Active addresses represent the number of wallets engaging with the JasmyCoin project, and the number has risen from the week of July 1st. By July 9th, nearly 2000 active addresses were recorded, indicating that Jasmycoin users were again engaged in the network.
Similarly, the volatility has been at its lowest at 0.051 from the peak of 0.407. It exhibits stability in the price, which displays that sellers are strong. Despite this, the buyers are improving their ground. So, the price is at crucial support, and based on the bull’s interest, it may help the Jasmycoin (JASMY) price rise further.
JASMY Coin Technical Analysis
In the daily chart, the JASMY price broke out from its long accumulation range and peaked at 800% by March 3rd, from $0.00300 to $0.02736. However, the price fell into a contracted wedge, which became a symmetrical triangle pattern, which gave another rally 180% price rally and built an ATH at $0.04412 by June 7th, 2024.
Thereon, the major profit booking caused the price to drop, which later reached 200-day support by July 5th, 2024, and with correlation to BTC, the price has resonated with BTC taking support.
At press time, the JASMY price traded at $0.02510. With a nearly 4% gain, the price is approaching the 50-day EMA. MACD started converging, and a bullish crossover will likely be anticipated next. RSI flashed at 44.59, taking support from 14-SMA.
Therefore, if the price rallies, the resistances stand at $0.03220 and $0.03856. However, if it fails, a slippage of $0.02266 would lead to $0.01655.
Summary
JasmyCoin price rose after Bitcoin’s rise. It found support at 200-day EMA, indicating potential for long-term bullishness. User activity is picking up, and bulls are gaining traction. Price may rise further if bulls maintain momentum. Technically, resistances lie at $0.03220 and $0.03856.
 rallies after a fall! Will bulls trump bears? Find out if technical analysis hints at a price surge){kind=link}