Crypto analyst Javon Marks suggests JasmyCoin (JASMY) may be severely undervalued, even after a massive 1,530% price surge. His analysis points to an unusually low Relative Strength Index (RSI) on the monthly chart, indicating potential for further upward movement.

Oversold Despite Massive Gains

Marks took to X to share his insights on JASMY’s current market position. He noted that despite the coin’s recent price explosion, its monthly RSI remains one of the lowest in the market. This unusual combination suggests JASMY’s “natural value” could be much higher than its current trading price.

$JASMY's Monthly (1M) RSI, even after an over 1,530% increase in price, is one of the market's most oversold coins, meaning that the natural value of JasmyCoin can be so much higher than what it is right now.What does it mean if a coin, stock, or asset is oversold?"…Put… pic.twitter.com/dTyx6drJuK

— JAVON MARKS (@JavonTM1) August 29, 2024

“$JASMY’s Monthly (1M) RSI, even after an over 1,530% increase in price, is one of the market’s most oversold coins,” Marks wrote. He added that this indicates “the natural value of JasmyCoin can be so much higher than what it is right now.”

Understanding Oversold Conditions

An oversold asset typically trades below its intrinsic value. This often occurs when markets overreact to negative news or fail to recognize an asset’s potential. In JASMY’s case, the low RSI suggests the market may not yet fully appreciate its value proposition.

Marks explained the concept further: “Put simply, it trades at a price that’s much lower than it should. This means that it’s worth much more than the price that it’s trading at in the market.”

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Implications for JASMY’s Future

The analyst’s observations hint at key upside potential for JASMY. If the market begins to recognize the coin’s true value, as suggested by the RSI, further price appreciation could be on the horizon.

“If after a more than 16.2X, Jasmy is still nowhere near its ‘true value’ which RSI suggests to be higher, then it can be clear that we are at the beginning of something far bigger,” Marks concluded.

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