JasmyCoin (JASMY) has been on a positive trajectory, with analysts predicting a new bullish wave that could lead to major gains for investors. Despite the recent price surge, experts argue that JASMY is not overextended and that the current market conditions indicate the beginning of a new bullish phase.
RSI Analysis Suggests Room for Growth
According to analyst TEAM LAMBO, the Relative Strength Index (RSI) for JASMY has hit a high level, similar to a previous instance where the price did not retrace majorly and instead continued to make new highs.
In the past, when the RSI reached 95, it marked the top of the bullish wave. Based on this fractal analysis, TEAM LAMBO projects that JASMY could top out between $0.12 and $0.15 in the current bull wave.
The Path to $2.90 and Beyond
Analyst JAVON MARKS has taken an even more bullish stance, suggesting that JASMY’s recent price movement, which saw an impressive 1,180% increase from approximately $0.003125 to $0.040115, is just the beginning.
According to MARKS, the technical setup for JASMY implies the potential for another 71x gain, representing an increase of over 7,000%. This would put JASMY on a path to reach $2.90 and possibly even higher.
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Show more +Show less – Fractal Analysis Supports Bullish Outlook
KCM, another prominent analyst, echoes the sentiment that JASMY is not overextended and that the current market conditions mark the start of a new bullish wave.
Referring to the RSI analysis, KCM notes that the last time the RSI hit similar highs, the price did not experience a major retracement and instead continued to make new highs. Based on these fractals, KCM suggests that JASMY could top out between $0.12 and $0.15 during this wave.
DWFLabs’ JASMY Deposits on Binance
#DWFLabs has deposited 97M $JASMY ($3.3M) to #Binance in the past 3 days!• DWF Labs unloaded $JASMY daily for the past 3 days (last txn was 12 hours ago).• There was a short-term price drop after each deposit .• Current holding: 24M $JASMY ($841K).• Est. total profit:… https://t.co/QbwtTcHE0H pic.twitter.com/H2jYfFLUxV
— Spot On Chain (@spotonchain) June 3, 2024
While the bullish predictions for JASMY are encouraging, it is important to note that large-scale movements of tokens can impact the market. According to Spot On Chain, DWFLabs has deposited 97 million JASMY tokens, worth approximately $3.3 million, to Binance over the past three days.
These deposits have coincided with short-term price drops following each transaction. DWFLabs currently holds 24 million JASMY tokens, worth around $841,000, and has an estimated total profit of $9.49 million, representing a 307% gain.
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The post JasmyCoin (JASMY) Poised for New Bullish Wave, Analysts Predict Potential 71x Gains appeared first on CaptainAltcoin.
