JasmyCoin Price Forecast: Why is JASMY Surging?

JasmyCoin has been one of the best-performing crypto projects this year, surging by more than 80 percent in the first three weeks. Today, JasmyCoin looks poised to continue with the aggressive trend to the upside and extend the bullish streak of the past four trading sessions. 

Why has JasmyCoin started to Surge?

There are many reasons why, for the past few trading sessions, the JasmyCoin price has been in an aggressive bullish trend, among them the recovering cryptocurrency industry. For instance, in the past five days, the Bitcoin price has surged by more than 10 percent, almost hitting the $23,000 price level. With JasmyCoin being an altcoin that is highly correlated with Bitcoin and industry-wide trends, the current bullish trend has also meant that its value has been pushed to the upside. 

Speculations about the platform’s upcoming partnership with Sony have also seen investors’ confidence in the platform grow over the past few weeks. The result has been a new push to the upside. 

The two factors above have also contributed to the current surge in the trading volume of JasmyCoin. A few months ago, Jasmy rarely averaged above $20 million in daily trading volume. However, over the past few weeks, its trading volume has been averaging over $100 million, a factor that, in most crypto projects, results in a bullish trend. 

Jasmy Coin Price Forecast

As seen from the above fundamental analysis, JasmyCoin remains in a strong position to continue its bullish move. With the crypto industry continuing with the bullish trend, I expect the JasmyCoin price also to continue rising for the next few trading sessions. 

On the technical side of things, the recent price action that has resulted in its price surging by over 80 percent in three weeks is likely to continue. Therefore, I expect to see JasmyCoin trading above the $0.0061 resistance level in the next few trading sessions. However, dropping below the $0.0045 price level will invalidate my bullish analysis.  

Daily Chart