JasmyCoin

when

<p class="is-style-lead">JasmyCoin price has recently lost its momentum and moved into a deep bear market as it dropped by almost 50% from its highest point in June.&nbsp;</p> 
<p><a href="https://crypto.news/price/jasmycoin/" target="_blank" rel="noreferrer noopener">JASMY</a> was trading at $0.0230 on Tuesday, a 20% increase from its lowest point on Friday when most cryptocurrencies dropped.</p> 
<p>The token has declined due to ongoing headwinds in the crypto industry as the <a href="https://crypto.news/germany-transfers-40-million-bitcoin-ongoing-sell-off/" target="_blank" rel="noreferrer noopener">German government continued moving Bitcoins</a> to exchanges. Concerns about Bitcoin liquidations by Mt.Gox also contributed to a negative sentiment that is felt across the entire industry.</p> 
<p>These events have led to a significant drop in the crypto fear and greed index, which has moved from the year-to-date high of 90 to the greed <a href="https://coinmarketcap.com/charts/" target="_blank" rel="">area of 38</a>. In most cases, altcoins like Jasmy drop when there is a sense of fear among traders. &nbsp;</p> 
<h2 class="wp-block-heading" id="analysts-are-still-bullish-on-jasmy-price">Analysts are still bullish on Jasmy price</h2> 
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<p><em>JASMY price chart</em></p> 
<p>Jasmy’s sell-off has sent shockwaves among many holders as it dropped below important support levels. It moved below the 50-day and 100-day Exponential Moving Averages (EMA).&nbsp;</p> 
<p>It also dropped below the key support level at $0.0275, its highest swing in March, signaling that bears are gaining control.</p> 
<p>Bears also point to the fact that Bitcoin has formed a big double-top chart pattern, implying that it could drop to a support level of $44,000 in the near term. Such a move would lead to more downside for Jasmy and other altcoins.</p> 
<p>However, JASMY bulls believe that the coin will bounce back in the near term. In an X post, a crypto analyst pointed to the fact that the moves by Germany, Mt. Gox, and hacks have been there before. In most cases, such moves, including the <a href="https://crypto.news/year-after-ftx-collapse-what-to-expect-from-sbf-trial/" target="_blank" rel="noreferrer noopener">FTX collapse</a><strong>, </strong>were short-lived.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Jasmy?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Jasmy</a> fam, just a quick reminder that bull run is NOT over. Do not get shaken out n take advantage of this opportunity. I've seen these moves countless times since 2016. From China ban, MtGox, Hacks, n so on….but here we r <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#BTC</a> 57k. <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Crypto</a> n <a href="https://twitter.com/search?q=%24Jasmy&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$Jasmy</a> is here to stay. Get it!!! <a href="https://t.co/P9r5FB6KV8" target="_blank" rel="">pic.twitter.com/P9r5FB6KV8</a></p>— westcoast LA (@westcoast_la) <a href="https://twitter.com/westcoast_la/status/1810655308186046822?ref_src=twsrc%5Etfw" target="_blank" rel="">July 9, 2024</a>
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<p>In another tweet, Ki Young Ju, the founder of Cryptoquant noted that Bitcoin’s market cap can absolve this liquidity. He expects Bitcoin to bottom at between $47,000 and $48,000 and then resume the bullish trend, which will benefit Jasmy.</p> 
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   <p lang="en" dir="ltr">Great analysis from a macro perspective.<br><br>Despite potential liquidity dumps from the German govt and Mt. Gox creditors, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Bitcoin</a> market can absorb it with an estimated -10.5% impact. Say $47-48K level.<br><br>Mt. Gox and govt BTC selling won't end this cycle. <a href="https://t.co/dOFdxmuvRn" target="_blank" rel="">https://t.co/dOFdxmuvRn</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1810425052283720019?ref_src=twsrc%5Etfw" target="_blank" rel="">July 8, 2024</a>
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<p>The key JasmyCoin price to watch will be $0.019, which coincides with the 200-day moving average and the lower side of the hammer pattern that formed on Friday. A break below that level will likely indicate more downside.</p>

Jasmy price bull run is not over yet, crypto analyst says

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