Whales are taking profits, and JASMY's surge hits the brakes! Where do we go from here?
JASMY's trading volume skyrocketed by 616%, with amounts starting at millions of dollars! Are the whales busy taking profits, or are they quietly accumulating, preparing for another big move?
In the past five days, Jasmycoin has been like a roller coaster, first soaring to a small peak of $0.059, and then suddenly plummeting back to the safe zone of $0.032. Earlier this year, we had our eyes on two possible 'safe havens' - $0.032 and $0.04, and the bulls are doing their utmost to defend these two price levels.
Looking at the timing of the whales’ operations, they are truly masters of 'buying low and selling high,' making a profit at the high points and quietly accumulating around $0.04.
The market structure is quite optimistic, with little major divergence. However, that wave of high trading volume in December has now stalled, and we need to add some fuel to continue moving forward.
Since JASMY broke through the six-month high, the number of active addresses in November and December has been skyrocketing, with prices soaring, attracting everyone to join the excitement. The average coin age has also been declining, especially in the last six weeks, with a fierce rebound followed by profit-taking.
What is most surprising is the trading volume from the whales, which is simply explosive! Last week, as the whales moved, JASMY immediately surged to its peak.
On December 9th, JASMY swayed back to the 'comfort zone' of $0.032 to $0.04. From the supply distribution, it’s still the same trend as before, with wallets of different sizes starting to buy Jasmycoin at different times.
Especially those small to medium holders with $10k to $10M started moving on November 29th. Meanwhile, those big players holding tens of millions sold on December 8th, and then began to increase their positions again.
Overall, despite the frequent actions from the whales, Jasmycoin's future still looks promising. It is estimated that before the next wave of significant increases, we need to be patient and wait to see what surprises this consolidation period will bring!
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