jasmycoin Surges to New Heights Amid Market Recovery
JasmyCoin (JASMY) experienced a significant price increase on Sunday, hitting its highest point since March 6.The coin, often referred to as “Japan’s Bitcoin,” saw its value soar by 103%, reaching $0.017.This surge comes after it hit a low of $0.0082 earlier this month.
The rise in JasmyCoin’s price coincides with the broader crypto market’s stabilization.Bitcoin (BTC) is currently trading above $84,000, and other top tokens like Solana (SOL) and Fartcoin (FARTCOIN) have also shown signs of recovery. The uptrend is attributed to a falling wedge pattern on its daily chart, indicating a bullish breakout. The number of active addresses has also seen a sharp rise, jumping to 1,307, the highest since February 1. This growth reflects increased investor interest and market confidence.
On-chain data reveals a surge in active addresses and a strong uptrend in the Mean Dollar Invested age (MDIA). The MDIA figure has climbed to 241, suggesting long-term investors are holding onto their tokens.
Key factors driving this surge include a rebound in futures open interest, which has moved to $53 million. This is a ample increase from the $18 million recorded earlier this month.
- Active addresses rose to 1,307 on Sunday.
- MDIA figure climbed to 241.
- Futures open interest rebounded to $53 million.
Technical analysis shows JasmyCoin has surpassed the 78.6% Fibonacci Retracement level at $0.015 and the 50-day moving average. Bulls are now targeting the 50% Fibonacci Retracement level at $0.031.
JasmyCoin is the native token of a Japan-based blockchain project focused on data privacy and IoT. Founded by former Sony executives, it complies with Japanese financial regulations, enhancing its appeal in the local market.
