JasmyCoin's price is demonstrating a rebound following prolonged lows, linked to increasing stability in the cryptocurrency market due to recent Iran-Israel negotiations.
Price Surge of JasmyCoin
JasmyCoin (JASMY) rose to $0.0145 on June 24, its highest level since June 12, approximately 40% above its low this month. This recovery pushed its market capitalization to over $695 million.
Trading Volume and Liquidity Analysis
Over the past 30 days, Jasmy's supply on exchanges has decreased by 2.33%, dropping from 16.32 billion to 15.9 billion tokens. The 24-hour trading volume surged by 144% to over $102 million, indicating rising market liquidity and investor interest.
Technical Analysis of JasmyCoin's Price
The daily chart shows that JasmyCoin has been in a prolonged downtrend, falling to a year-to-date low of $0.0081. After reaching this low, the token rebounded to $0.02115 on May 14, but remains below both the 50-day and 100-day Exponential Moving Averages.
The rise of JasmyCoin mirrors the overall recovery in the cryptocurrency market, driven by improved political conditions. However, concerns loom regarding potential downward pressure if support at $0.0081 is breached.
