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Whale Sell-Off Pressures Jasmy: Is a 95% Gain Still Achievable in 2024?

Whale Sell-Off Pressures Jasmy: Is a 95% Gain Still Achievable in 2024? WikiBit 2024-11-27 13:00

Jasmy prices drop as whales sell millions, creating market pressure.Analysts predict a potential 95%

  • Jasmy prices drop as whales sell millions, creating market pressure.
  • Analysts predict a potential 95% rally fueled by bullish technical patterns.
  • Breaking $0.02964 resistance could drive a recovery toward $0.044 and beyond.

JasmyCoin (JASMY) has dropped, entering a bearish phase as whales offload large token holdings. One whale sent 57.2 million tokens to Coinbase, suggesting intentions to sell. Others moved $582,000 to Binance and over $3 million to Gate.io. These massive sell-offs create downward pressure on prices. However, many analysts remain hopeful, predicting a strong rebound. Could Jasmy recover and achieve a 95% gain next year?

Analysts Stay Optimistic Despite Whale Activity

Whale sell-offs often spook traders, given their impact on the market. Recent sales have sent shockwaves, yet analysts believe a recovery is possible.Analysts predict Jasmy could hit $0.05 this month and climb to $0.20 by March.

Some expect prices to touch $1 by June, marking a potential 4,900% rally. Another analyst points to a cup-and-handle pattern forming on the daily chart, a reliable indicator of future growth. This pattern, known for signaling bullish trends, adds weight to positive forecasts.

Technical Patterns Signal a Possible Rebound

Jasmys charts reveal an inverse head-and-shoulders pattern, a sign of bullish momentum. The head is at $0.016, while the shoulders rest near $0.020. This setup suggests a potential price reversal in the coming weeks. The coin is also nearing a golden cross, where the 50-day moving average crosses above the 200-day average.

This technical indicator historically predicts strong rallies. For example, the last golden cross in November saw Jasmy prices soar by 830%. Breaking above $0.02964, last weeks high, could signal the start of another rally. Analysts believe this could lead to a jump toward $0.044, a 90% increase from current levels.

Clearing this resistance would pave the way for further gains in 2024. Despite recent whale sell-offs, Jasmy retains strong rebound potential. Technical signals and optimistic forecasts suggest a 95% gain remains achievable next year. However, price movement in the coming weeks will be crucial in shaping future momentum.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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