Jasmy Coin Faces Bearish Pressure but Shows Signs of Recovery
The Jasmy Coin (JASMY) has entered a bear market, plummeting from its peak of $0.0595 to $0.012. This decline mirrors the broader cryptocurrency market’s performance, wiht Bitcoin and altcoins also experiencing drops.
However, there are signs of a potential rebound. On-chain data reveals a rise in active addresses, reaching 897 on March 23, the highest as March 10. This increase is frequently enough a positive indicator for a coin’s future.
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 considered undervalued, as indicated by its MVRV-Z score, which has fallen 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, moving from 10.4 billion in November to 8.47 billion this year. This reduction can be a positive sign for the coin’s future value.
Technically, the JASMY price has formed a falling wedge pattern, which often precedes a rebound. If it breaks above the $0.016 resistance, it could surge towards $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. This move could further boost its value in the future.
