Jasmycoin’s Bullish Surge: Analyzing Potential 60% Rally with Strong On-Chain Metrics

• Jasmycoin (JASMY) is currently drawing attention due to its bullish trends on the on-chain metrics.
• Fibonacci extension projections suggest a potential 60% price increase, prompting optimism among traders.
• Jasmycoin has experienced significant volatility recently, with a notable 25% price increase within a 36-hour period followed by a slight retracement.

Discover why Jasmycoin’s bullish outlook could lead to substantial gains and how key metrics support its strong upward momentum.

Impressive Social Metrics Foretell Potential JASMY Growth

Over recent days, data from on-chain analytics firm Santiment have highlighted increased social volume and active addresses for JASMY. A similar pattern was observed in February when JASMY surged 263% over two weeks, fueled by social media buzz and active trading.

This historical context indicates that while future performance cannot be guaranteed, prevalent market excitement and active participation can drive significant gains for Jasmycoin.

Stable Levels of Dormant Circulation

Small spikes in dormant circulation in recent weeks suggest that heavy selling pressure is not imminent. During JASMY’s February rally, even sharp increases in dormant circulation did not halt the upward trend, suggesting resilient investor confidence. Hence, current metrics hint at the potential for continued growth without the threat of substantial sell-offs.

Strong Bullish Indicators Based on Key Metrics

Analysis of major on-chain metrics reaffirms JASMY’s positive outlook. The 30-day Market Value to Realized Value (MVRV) ratio suggests short-term holders are seeing profits. Additionally, a downtrend in Mean Dollar Invested Age (MDIA) reveals active network participation, countering stagnation concerns.

The Network Value to Transactions (NVT) ratio being relatively low further underscores that JASMY is not overvalued. Collectively, these metrics reinforce the bullish sentiment in the market.

Technical Analysis and Price Targets

The 50% Fibonacci retracement, which served as a key support level from March to May, has been pivotal in JASMY’s recent price movements. Fibonacci extension projections now identify $0.0415, $0.05, and $0.064 as critical price targets in the bullish scenario.

On the 3-day chart, the Relative Strength Index (RSI) indicates robust bullish momentum, while the Chaikin Money Flow (CMF) score of +0.12 supports the hypothesis of strong capital inflow into JASMY. Thus, a 30%-60% price increase appears feasible; should a minor retracement occur, the $0.0256-$0.0288 range could serve as a strategic entry point for long-term investors.

Conclusion

Jasmycoin’s recent performance, supported by critical on-chain and technical metrics, showcases a promising bullish outlook. With favorable social metrics, stable dormant circulation, and positive technical indicators, JASMY appears poised for significant gains. Investors would do well to monitor these metrics closely as they navigate potential opportunities for growth within the crypto market.