JasmyCoin skyrocketed by 25% as sentiment in the cryptocurrency industry improved. This growth coincided with the Fed's decision to keep interest rates unchanged.
Impact of Fed's Decision on Cryptocurrency
JasmyCoin, along with other mid-cap cryptocurrencies, posted double-digit gains following the Federal Reserve's decision to leave interest rates unchanged.
Trade Volume and Interest Analysis
JasmyCoin's price increase was accompanied by a rise in open interest to $53 million, indicating increased demand for the asset. Additionally, there is a notable outflow of tokens from exchanges.
Future Prospects and Technical Analysis
Technical analysis shows JasmyCoin finds support at the 61.8% Fibonacci retracement level. A breakout from the falling wedge pattern may lead to a rise to the resistance level of $0.0445.
If the positive momentum persists, JasmyCoin could reach new heights. However, a breach of key support could alter this outlook.
