🌎 JasmyCoin Price Hits 2022 High

JasmyCoin Price Surge: What’s Behind the Rally and What to Expect Next

JasmyCoin, often referred to as Japan’s Bitcoin, has seen a significant price surge, reaching its highest level since 2022. The coin’s price jumped by 1,000% from its lowest level this year, trading at $0.052. This upward trend can be attributed to Bitcoin’s recent rally, which hit a record high of $104,000.

Bitcoin’s Influence and Jasmy’s Growth

Other Bitcoin-related cryptocurrencies, such as Litecoin, Bitcoin Cash, and Ravencoin, have also experienced substantial gains. Additionally, Jasmy has benefited from an increase in the number of holders, with nearly 80,000 account holders, up from 76,300 last month.

IoTeX Partnership and DePIN Innovation

Jasmy’s partnership with IoTeX, a leading player in the Internet of Things industry, has also contributed to the coin’s rally. This collaboration aims to drive DePIN innovation in Japan, a significant market for the crypto industry. Cryptocurrency prices often experience a surge after major partnership deals.

Jasmy Price Analysis and Market Cap

JasmyCoin has become a popular cryptocurrency, with its market cap reaching $2 billion. The platform, created by former Sony executives, focuses on enhancing data privacy by integrating blockchain technology with IoT.

Technical Analysis and Price Projections

The daily chart shows Jasmy’s strong performance this year, driven by rising demand for cryptocurrencies. The coin has formed a golden cross, with the 50-day and 200-day moving averages crossing each other. Additionally, it has completed a cup and handle pattern, a common continuation signal.

The profit target is calculated by measuring the depth of the cup and projecting that distance above the upper side of the cup. This suggests the coin could rise to $0.075, approximately 50% above its current level. However, the bullish outlook will be invalidated if Jasmy’s price falls below the strong pivot and reverse level of $0.03662.