The price of JasmyCoin has dropped amid a decline in the crypto fear and greed index to 35, reflecting increasing market uncertainty.
Current Market Situation
JasmyCoin fell to $0.021, marking a 63% decrease from its December high, signifying a bear market where an asset drops by more than 20% from its recent peak. This decline has coincided with a broader market downturn, influenced by traders' cautious stance. For example, Bitcoin's price has decreased from $109,200 to $96,000.
Actions of JasmyCoin Holders
Despite the price drop, the number of JasmyCoin holders increased from 85,300 to 88,600. This might indicate that many holders are not hastily selling their assets during the price decline. Additionally, exchange balances have reduced to 8.49 billion, suggesting that investors prefer to keep their assets off exchanges, hoping for a price rebound.
Technical Analysis
JasmyCoin's price chart has formed a 'falling wedge' pattern, which may indicate a potential trend reversal. The Relative Strength Index also shows a wedge pattern, and the Percentage Price Oscillator has dropped to its lowest point since August 2024. JasmyCoin saw a substantial rebound the last time it reached these levels.
The maintenance and even growth in the number of holders amid the price drop, along with reduced exchange balances, might be a positive sign for investors awaiting a recovery.
