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.”
Next Meme Coin to Explode? Look No Further If You Are Looking for the Next PEPE or POPCAT
Meet PandaWorld, the new meme coin currently selling at discounted presale prices! The project was inspired by the adventures of six panda siblings, utilizing their unique abilities to bring together gaming, staking, and other features.
Show more +Show less –
Read also: Meme Coin Prices Crash – FLOKI, DOGS, and POPCAT Plunge
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.
Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post How High Can JasmyCoin (JASMY) Price Go? appeared first on CaptainAltcoin.
