Could JASMY Repeat Its Last 20X Surge? Here’s the Technical Setup
TLDR:
- JASMY trades below $0.01 with a higher low forming amid deep oversold conditions.
- Falling-wedge pattern compresses price, indicating possible seller exhaustion and accumulation.
- Fresh-wallet withdrawals from CEX reach over 10.3B JASMY, totaling ~$71.58M.
- Historical patterns suggest oversold zones like this previously triggered nearly 20X moves.
JASMY is trading below $0.01 while forming a Higher Low (HL), signaling a rare technical setup.
Current indicators show deep oversold conditions, which previously preceded nearly a 20X price surge. Traders are closely watching whether similar patterns could spark another significant move.
The token is consolidating within a tightening falling-wedge formation, compressing price toward the apex.
Each dip is absorbed without creating new macro lows, suggesting growing accumulation. Analysts note a breakout above descending resistance could trigger rapid gains toward the $0.2785 target, over 3,740% above current levels.
Technical Patterns Point to a Potential Reversal
JASMY’s chart shows a Higher Low forming as momentum indicators enter deep oversold territory.
This combination has been rare, and the last occurrence led to a strong upward trend. Current patterns suggest sellers may be exhausted, allowing buyers to gradually accumulate.
The falling-wedge structure reflects price compression and a tightening range. Each retracement is met with absorption, preventing a new macro low. Traders interpret this as a sign of market stabilization before a potential breakout.
Market analyst Javon Marks noted,
The repetition of oversold zones and higher lows may signal similar price dynamics.
If momentum flips in this zone, JASMY could follow a high-timeframe reversal trajectory.
Analysts highlight the $0.2785 level as a long-term breakout target, representing over 38X the current price. This aligns with historical behavior during prior oversold cycles.
On-Chain Data Shows Strong Accumulation
Recent on-chain activity shows substantial withdrawals from centralized exchanges, indicating active accumulation.
Within hours, the top one and two EOA wallets withdrew 4.5 billion JASMY, approximately $31.3 million, from Coinbase.
Fresh-wallet holdings now total over 10.3 billion JASMY, equivalent to roughly $71.58 million.
Observers note that synchronized withdrawals often signal preparation for mid-term positioning and growing confidence in holding tokens off-exchange.
Another analyst noted,
The coordinated accumulation supports the narrative of readiness for potential upward moves.
The technical setup combined with fresh-wallet accumulation presents a scenario similar to the last cycle.
Price compression, higher lows, and oversold conditions suggest that JASMY may be preparing for a move that could mirror its previous 20X surge.
The post Could JASMY Repeat Its Last 20X Surge? Here’s the Technical Setup appeared first on Blockonomi.
Ayrıca Şunları da Beğenebilirsiniz
Volante Technologies Customers Successfully Navigate Critical Regulatory Deadlines for EU SEPA Instant and Global SWIFT Cross-Border Payments
Fed Acts on Economic Signals with Rate Cut
