JasmyCoin Consolidates After Smashing a 2-Year High—Here’s What’s Next for the JASMY Price Rally

Crypto markets again turned extremely bullish after the Bitcoin price achieved the milestone above $100K. This triggered some of the altcoins like Ethereum that traded close to $4000 but failed to surpass the pivotal resistance. However, among the top gainers was JasmyCoin, which broke the 2-year consolidation and marked highs close to $0.06 for the first time since January 2022. Therefore, the JASMY price is believed to revamp a significant upswing after undergoing a small consolidation, as the bulls seem to be poised for a 100% upswing. 

Ever since the token  rose above the multi-year consolidation zone around $0.02, the buzz around the crypto was why the JASMY price is surging so much.

JasmyCoin reacted to the BTC price rally positively, which was fueled by a couple of collaborations to strengthen the DePin space. The platform has collaborated with IOTEX, aiming to drive DePin innovation & empower users across the market. Now that the price is displaying massive bullish momentum, the question rises: whether the price can make it to $0.1 this weekend? 

JASMY price is displaying huge potential in maintaining a strong ascending trend as the upper cap remains pretty higher than the current levels. The RSI displays the possibility of a pullback but the 50/200 day MA is poised for a bullish crossover, indicating the revival of a bullish trend. Now that the price maintains an 18% jump after an 80% rise in the past trading day, the next upper target could be around $0.061 at 1.4 FIB. 

Although the price is facing significant upward pressure, the bulls are trying hard to push the prices higher. Therefore, the token is believed to test the resistance at $0.0595 in a short while from now. A breakout could push the prices higher but a rejection may lead to consolidation until the markets display the next bullish move. 

JASMY crypto is becoming one of the strongest in the long term. With its use cases and growing adoption, it has great potential for future gains. Therefore, the price target may not be restricted to $0.1, as the token carries huge potential to achieve the range between $0.2 and $0.25 if the bulls hold a tight grip over the rally.