Jasmy Coin Faces bearish Pressure but Shows Signs of Recovery
The Jasmy Coin (JASMY) has entered a bear market, plummeting from its high of $0.0595 to $0.012. This decline mirrors the broader cryptocurrency market’s performance, with Bitcoin and altcoins also suffering.
However, there are signs of a potential rebound.On-chain data reveals a rise in active addresses, reaching 897 on March 23, the highest since March 10.This increase is often a positive indicator for a coin’s future performance.
Another bullish signal is the 365-day Mean Dollar Invested Age (MDIA) rally. The MDIA has climbed to 146 from this month’s low of 138. A rising MDIA suggests investor confidence is growing.
jasmy is also becoming undervalued, as indicated by its MVRV-Z score, which has dropped to minus 1.8. This score compares the coin’s market value to its realized value, showing it’s currently undervalued.
Exchange balances of JASMY have also decreased, falling to 8.47 billion tokens from a high of 10.4 billion in November. This reduction can be a positive sign, as it may indicate less selling pressure.
Technically, the JASMY price has formed a falling wedge pattern, which frequently enough precedes a rebound. If the price breaks above the key resistance at $0.016, it could signal further gains, potentially reaching $0.025.
JasmyCoin, often called “Japan’s bitcoin,” was founded in 2016 to give individuals control over their personal data. It aims to empower users to manage and monetize their information securely. Recently, JasmyCoin has shifted its focus to the AI sector, using decentralized GPUs for next-generation AI agents.
