In the last two days, JasmyCoin's price surged, marking its highest point since October 24 in the crypto market.
Reaching a New Peak
JasmyCoin, a popular Japanese token, reached an intraday high of $0.022 during recent trading sessions, up over 23% from its lowest point this week. This price rally aligned with a broader rebound in the crypto market and a shift in the fear and greed index from neutral to the greed zone at 62. Investors are anticipating further gains following Donald Trump's presidential election victory.
Increase in Futures Open Interest
The rise of JASMY coincided with a surge in its futures open interest, which climbed to over $28.4 million, the highest since October 25. This marked a significant increase from this week's low of approximately $2.9 million.
Signs of Bottoming
On the daily chart, JASMY formed a double-bottom pattern at $0.0172, a common bullish signal in the market. The token is attempting to flip the descending trendline connecting the highest swings on Aug. 23, Oct. 15, and Oct. 22. JASMY has also climbed above the 200-day Exponential Moving Average and is nearing the 50% retracement level. The coin is likely to continue rising, targeting the key resistance at $0.0254.
JasmyCoin shows signs of potential further strengthening amid positive market sentiment. Traders are closely observing price movements and expect continued price growth.
