Jasmy Coin Price Analysis 2023: Breakout, Challenges, and Predictions for a Bull Run

Breaking Above the Downside Trending Line

Jasmy Coin, the cryptocurrency of Tokyo-based IoT provider Jasmy Corporation, has recently broken above its daily downside trending line, now serving as a support line, for the first time since May 5, 2023. This significant technical development has piqued the interest of market participants.


Source: TradingView

Challenges Before a Bull Run

Before embarking on a potential bull run for the remainder of 2023, Jasmy Coin is anticipated to correct to test and confirm the breakout. The 99-day Moving Average, currently situated at $0.00429, stands as a formidable resistance line to overcome.

Jasmy Coin Price Prediction for 2023 and 2024

The double top, marked by price peaks of $0.008364 on February 8, 2023, and $0.007967 on May 5, 2023, will present the first major challenge. Should the price of Jasmy Coin approach these levels, it could yield a near 100% profit. However, it must be noted that the cryptocurrency market, including Jasmy Coin, is highly correlated with Bitcoin’s price. A downturn in Bitcoin could hinder Jasmy Coin’s upward momentum.


Source: TradingView

Current market dynamics and technical indicators suggest cautious optimism for Jasmy Coin’s price trajectory in the coming months. The recent break above the downside trending line and the potential to tackle the 99-day Moving Average resistance may pave the way for further gains.

Open Interest in Binance Futures

Open Interest in Jasmy Coin on Binance Futures stands at approximately $10.35M, a +7.57% increase over the last 24 hours, as of the latest data. This figure has been on a steady incline since August 8, 2023. The long/short ratio of 2.33 indicates a predominance of long traders, a situation that may trigger a temporary pullback to liquidate overextended positions.

About Jasmy Coin

Jasmy Coin focuses on facilitating data exchange between service providers and users by integrating IoT with blockchain technology. Utilizing edge computing and IPFS for data storage, Jasmy emphasizes the democratization of data, ensuring secure protection, ownership, and enabling service providers to leverage user-owned data.


Jasmy Coin’s recent price movements and underlying market dynamics present a nuanced picture. While there are promising signs of growth, several obstacles must be navigated for a sustained bull run. Investors and traders should closely monitor Bitcoin’s price and other market indicators to understand Jasmy Coin’s future direction. The current landscape suggests a measured approach, with the potential for substantial gains if key resistance levels are breached and broader market conditions remain favorable.

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Diem stablecoin co-founder praises Bitcoin for censorship resistance

Shortly after Meta, formerly Facebook, officially gave up on its stablecoin Diem, some of the key people in the project have become increasingly vocal about the uncensorable nature of Bitcoin (BTC).

David Marcus, a co-founder of Diem, originally known as Libra, took to Twitter on Tuesday to predict that Bitcoin will be the number one asset in the next two decades.

“It’s become clear to me that Bitcoin will be the one asset and L1 still around in 20+ years with increased compounding relevance over time,” Marcus wrote, adding that BTC is “truly leaderless” and “censorship resistant.”

“In essence, it’s unique and cannot ever be replicated,” he added.

Marcus also went on to say that the second-biggest cryptocurrency is yet “to be determined” and will be related to a different use case. He suggested that Ether (ETH) is “in the lead for now,” but other cryptocurrencies like Solana (SOL) are “nipping at their heels.”

Marcus is former head of Meta’s cryptocurrency and fintech unit Novi, stepping down from his position in late 2021. He co-founded the Diem stablecoin with Morgan Beller and Kevin Weil.

Despite his hard work on Meta’s stablecoin, Marcus has been a known fan of Bitcoin. According to some industry observers, Marcus is considered “one of the first top Silicon Valley executives to adopt and support Bitcoin.” In 2019, Marcus said that he was a “big fan of Bitcoin,” calling it “digital gold.”

Marcus is not the only Facebook exec who is a fan of Bitcoin. Facebook co-founder and CEO Mark Zuckerberg hinted at being a Bitcoin bull in May 2021 by calling his pet goats Max and Bitcoin.

Related: Meta joins patent alliance, pledges free crypto patents for all

Marcus’ latest remarks came shortly after Meta announced the closure of its digital currency project Diem after initiating the stablecoin project in 2019.

Some prominent Bitcoin bulls like Twitter founder Jack Dorsey subsequently argued that Diem was a waste of time and effort, stressing that the tech giant should have focused on Bitcoin instead.