JasmyCoin (JASMY) made quite the noise in the crypto market over the last 24 hours. With a sudden 14% price surge, JASMY reached a high of $0.0159, attracting both excitement and scepticism. While whale activity pushed the price upward, many retail traders and short sellers are still cautious about what’s coming next. Let’s break down what’s behind this JASMY price surge and what could happen next in the market.
Whales Dive In: The Real Fuel Behind the Rally
The sudden Jasmy price surge wasn’t a random move. According to data from Arkham Intelligence, four major whales were behind the buying frenzy: Binance, Bybit, Bitturk, and Bitvavo. Together, they bought $8.47 million worth of JASMY, shaking up the token’s price dynamics.
Binance alone now holds 9.2% of JASMY’s supply, which is roughly $72 million in value. That’s a big deal. When whales accumulate this much, it sends two kinds of signals to the market: confidence or caution. Retail traders either follow their lead or prepare for a pullback, fearing a sell-off.
A Key Price Zone: The Fair Value Gap
Besides whale interest, JasmyCoin entered what’s called a Fair Value Gap (FVG). Think of it as a “demand zone”, a price area where buyers step in, driving the price higher. Currently, the key resistance for JASMY lies at $0.01615. If this level is broken, the coin could rally as much as 97%, potentially reaching $0.03196. That’s nearly double its current value. But there’s a catch: prices don’t always move in straight lines.
Today, it became true that JASMY dipped slightly and is trading at $0.01491. There’s also a chance that JASMY could pull back into the FVG, gather more buying power, and then attempt to rally again. This zig-zag pattern is pretty common in crypto.
Technical Signs: Buyer Fatigue Is Setting In
While the recent JASMY price surge looks promising, technical indicators are beginning to tell another story. Take the Money Flow Index (MFI), for instance. It currently reads 76.82, close to the overbought zone of 80. When this number gets too high, it usually means that buyers are getting tired, and a price drop could follow. Similarly, the Relative Strength Index (RSI) is currently at 56.80 and heading downward. If it falls below 50, it could confirm a bearish trend, increasing the chances of a price dip.
Retail Traders Are Not on the Same Page
While whales are buying, the rest of the market is showing signs of doubt. In fact, many traders are now betting against JASMY. Short positions, which profit when prices fall, are starting to dominate. Sellers are even paying premium fees to buyers, a rare situation that signals stronger bearish sentiment. If this continues, the selling pressure could outweigh the whale activity, dragging prices down.
What’s Next After JASMY Price Surge?
At this point, the future of JASMY is hanging in the balance. Whale accumulation has clearly kicked off the current rally, but without broader market support, it may not last long. If JASMY can break above $0.01615 and maintain momentum, a big breakout could follow. But if buyer fatigue and bearish indicators take over, we could see the token dip back to lower support levels.
In simple terms, JASMY is at a crossroads. It either climbs higher with stronger backing or slips as short sellers gain control. Crypto is often driven by emotion and big players. While the Jasmy price surge looks impressive, it’s important for smaller investors to watch the signs and stay cautious. Whether you’re team “buys the dip” or “waits and sees,” JASMY’s next move will be one to watch closely.
Source: Coinfomania / Digpu NewsTex