JasmyCoin (JASMY) Indicating a Potential Decline Despite High Inflation and Volume

The annual inflation rate of the JasmyCoin is a meager 1.82%, making it more valuable than other cryptocurrencies. Despite this, the crypto price volatility is high at 12.96%.

Despite surging 470% last year, outperforming 92% of top cryptos with high inflation and volume, market cap for JasmyCoin indicating potential decline

The annual inflation rate of the JasmyCoin is a meager 1.82%, making it more valuable than other cryptocurrencies. Despite this, the crypto price volatility is high at 12.96%.

The value of the traded volume for the crypto is up by 61% over the last 24 hours at press time. This shows a rise in the engagement of traders in the crypto.

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Despite the surge in volume, market cap had declined by 8.5%, indicating that more investors are in selling mode. It might lead to a further decline in the crypto price.

The liquidity of the crypto is much higher, resulting in 11.68%, followed by the market cap value of the crypto at $1.165 Billion. The circulating supply of the crypto further is 49.299 Billion JASMY, and the total supply of the crypto is 50.0 Billion JASMY.

The crypto price is up by 760% from its all-time low, while it has declined by 99% from its all-time high price of $4.99. Additionally, the all-time high price of the crypto was achieved on February 16, 2021.

Onchain Data Overview of JasmyCoin

At press time, the concentration by large holders for the JasmyCoin is 78%, and the 30-day price correlation with Bitcoin is 0.91.

The Onchain data shows that 66.89% of the crypto holders are in profit (48.6K addresses). Additionally, 30.1% of the crypto traders are at a loss, while 2.19K addresses broke even.

Jasmycoin’s 53% of holders have been holding it for more than one year, and 53% of the transactions made in the crypto are from the West. Also, the average time for which the token is held is 11.3 months.

JASMY Crypto Technical Analysis

JASMY consistently declined over the last few days, showing sellers dominate the most recent trend.

After breaking out above a long-term consolidation, JASMY rose by more than 100%.

Despite the surge in price, the crypto underwent profit booking over the last few days. From the swing high of $0.04482, the price had declined to $0.02320 as of press time, resulting in a decline of 48% in the crypto price.

A continuation on the higher side might be seen if the crypto forms a bullish candlestick pattern on the chart. Despite this, one must stay cautious as the most recent price action shows weakness.

JASMY/USD Chart by TradingView

The crypto price fell below the 20-day and the 50-day EMAs while the 50-day and the 200-day EMAs are trading in a golden cross. If the price continues to decline, it might support at 200-day EMAs and reverse from the same level.

The MACD metrics have declined to a negative trajectory, and the volume histograms are also bearish. This supports a bearish trend in the short term.

The RSI has declined below the 50-level and the 14-day SMA and has sustained below the same. This shows a weakness in the trend of JASMY crypto.

After surging 470% last year, outperforming 92% of top cryptos with high inflation and volume, market cap for JasmyCoin indicating potential decline

JASMY surged 470% last year, outperforming 92% of top cryptos. However, the crypto failed to sustain the rally and underwent profit booking. As a result, the market cap of the crypto also declined by 8.5%, indicating that more investors are in selling mode. It might lead to a further decline in the crypto price.

The support levels for the JASMY crypto are $0.00456 and $0.0150, followed by the resistance levels of $0.0310 and $0.0440.This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading

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