JASMY shows signs of strength near a critical support zone, and analysts highlight historical correlation with Ethereum. Price behavior and technical patterns indicate a potential breakout.
JASMY Price Movement and Ethereum Influence
A recent study by crypto analyst Javon Marks revealed that JASMY's price behavior resembles Ethereum's historical trend line. From 2022 to mid-2023, both JASMY and Ethereum were in a downward trend but began rising in early 2023 as market conditions improved. By mid-2024, Ethereum reached new all-time highs, surpassing the $2,200 resistance, while JASMY also showed growth but stalled in July 2024.
Key Support for JASMY and Consolidation
Currently, JASMY is trading in a critical support range between $0.009 and $0.013, which has proven reliable since 2022, absorbing heavy sell-offs during multiple market downturns. JASMY hit a low near $0.005 around mid-2022. In 2024, the token broke out, climbing close to $0.070, but that rally was short-lived as selling pressure brought the price back down.
Current Market Situation and Predictions
As of now, the price of JasmyCoin (JASMY) is $0.01524 with a 0.64% gain over the last 24 hours, but down 2.95% over the past 7 days. The daily chart shows a symmetrical triangle forming, characterized by rising lows and lower highs. Strong resistance is around $0.0195, with solid support at $0.0125. A potential scenario indicates a minor dip before a breakout towards the $0.028–$0.030 range.
JASMY demonstrates resilience at historical support and may be on the cusp of a significant rise. The price behavior of the token in correlation with major parameters like Ethereum highlights its potential in the market.
