The price of Jasmy has staged a strong comeback in the past few weeks as the crypto market continues to grow. It has risen to $0.20, up by 135% from its lowest level this year, hovering at its highest level since March. Several technical indicators suggest that the coin could continue rising in the coming months.
At the same time, there are a few catalysts that could help the Jasmy price continue rallying. For example, Bitcoin price continues surging, with analysts expecting more upside. Standard Chartered analysts believe that Bitcoin will hit $200,000 by the end of the year, while Ark Invest predicts that it will rise to $2.4 million by 2030. A strong Bitcoin surge will likely lead to more upside for altcoins like Jasmy.
At the same time, the US and China trade talks continue, and the two sides seem to be making progress. In a statement, Donald Trump said that the two-day talks were successful and laid the foundation for better trade relations. Such a move will remove the biggest market risk today and lead to higher asset prices.
Further, JasmyCoin price will also benefit from the ongoing theme of the internet of things (IoT). Some analysts believe that the industry will grow from the current $714 billion today to $4 trillion in 2032. It is also experiencing higher demand in both the spot and futures markets.
JasmyCoin Price Technical Analysis
The daily chart shows that the Jasmy price fell to a low of $0.00817 in April and has risen to the current $0.019. It has jumped to the 50-day and 100-day moving averages and is about to form a mini-golden cross.
The JasmyCoin token has retested the 23.6% Fibonacci retracement level at $0.021. Most importantly, it has formed a bullish flag pattern, a popular continuation sign, comprising a vertical line and a rectangle pattern.
The Average Directional Index (ADX) has moved to over 30, a sign that the rally is gaining momentum. The MACD indicator has moved above the zero line, while the Relative Strength Index (RSI) approaches the overbought level.
Therefore, the Jasmy price will likely continue rising as bulls target the next important level at $0.03340, the 50% Fibonacci retracement level, approximately 75% above the current price. A move below $0.15 will invalidate the bullish outlook.
