As a researcher with experience in the cryptocurrency market, I believe that Jasmy (JASMY) is currently experiencing a significant price surge due to the increasing demand for decentralized infrastructure networks and the recent developments surrounding Apple’s integration of Japan’s ‘My Number’ application.
I’ve noticed an exciting uptrend in Jasmy’s price lately. As a crypto investor, this development has left me feeling quite bullish about my investment in DePIN, Jasmy’s decentralized Physical Infrastructure Network cryptocurrency. Over the last 24 hours, its value has surged by an impressive 9.2%. To put things into perspective, over the past week, it has even experienced a remarkable increase of approximately 44%.
Jasmy Price Analysis: JASMY Bulls Eye $0.064, But a Cool Down is Due First
Recently, the JASMY cryptocurrency price surged by an impressive 63%, shattering the resistance level of an ascending triangle pattern on its chart. This robust price movement places the token well above both its 50-day and 200-day moving averages, a strong indication of bullish sentiment for the project.
As JASMY’s price climbed, there were pockets where the fair value wasn’t met, creating gaps in the market with inefficiencies or imbalances. To ensure price stability, these unmet fair value regions, often referred to as Fair Value Gaps (FVGs), need to be addressed by the price revisiting those zones.
The Fan Obtained Values (FVGs) on the JasmyCoin chart hover around the $0.032 and $0.028 price points. As a result, it’s plausible for the JasmyCoin price to retrace back to these levels, presenting a chance for investors to purchase more coins at reduced costs. The FVGs align with the 0.38 and 0.5 Fibonacci retracement levels, adding credence to their role as possible support zones.
Following the pullback, JASMY’s price could rebound and potentially reach the 0.27 Fibonacci extension at approximately $0.046. Further upward momentum might bring the price to $0.64, where significant resistance is present.
Why is Jasmy Price Skyrocketing?
The buzz surrounding DePIN narrative is strong, and as a significant player in this field, JasmyCoin has managed to capture a substantial market share. The value of JasmyCoin has spiked following Apple’s latest announcement. This tech titan revealed plans to integrate Japan’s ‘My Number’ application into iPhones. In response, investors flocked to purchase JASMY, fueling speculation that JasmyCoin had forged a partnership with Apple.
JasmyCoin, as an ERC-20 project, empowers users to take control of their Internet of Things (IoT) data by safeguarding it on the Jasmy platform. Conversely, My Number functions as a digital certificate for identity verification purposes. The distinction is clear for potential investors.
Based on data from Coingecko, DePIN has achieved a significant accomplishment by reaching a market capitalization of approximately $29 billion. The sectors of compute, storage, and artificial intelligence are currently driving this growth, indicating immense demand and potential within these fields.
Despite the recent clarification in the news, JASMY’s price remains on an upward trend, approaching the levels of established industry leaders such as Celestia (TIA).
Bottom Line
As the DeFi (Decentralized Finance) sector progresses and develops, coins such as JASMY are expected to surpass market performance. The participation of tech giants like Apple and Panasonic in JasmyCoin’s industry increases the likelihood of future collaborations and integration. Investors in JASMY keep a keen eye on the markets for potential purchasing chances.
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2024-06-04 10:05