JasmyCoin rose nearly 16% over the past 24 hours, reaching a price of $0.005414, with daily trading volume increasing to $28.5 million—a 175.14% surge from the previous day. Analysis of the market shows this rally was not driven by low liquidity, as market participation has also rebounded in tandem.
Trading volume increased, and reserves rose accordingly.
In addition to price strength, JASMY’s exchange reserves are also rising. Data shows that the relevant reserves have increased to $46.59 million, a 15.58% rise. This typically indicates more tokens or funds flowing into the exchange, increasing the amount of tradable supply in the market.
However, JASMY continued to rise despite an increase in reserves, indicating that buying pressure absorbed the additional selling pressure in the short term. The article suggests this is more likely a reallocation following increased trading activity, rather than a simple rebound caused by reduced circulating supply.
Daily candlestick breaks below the descending channel
Technically, JASMY has broken upward out of a multi-week descending channel, with a clear improvement in the daily chart structure. After rebounding from around $0.00452, the price advanced toward the $0.0054 level, a region that had previously multiple times resisted upward moves.
Meanwhile, the MACD has formed a bullish crossover, with the histogram expanding, indicating strengthened short-term buying momentum. The recent candlesticks have also risen above the upper boundary of the previous channel, suggesting no significant pullback has occurred following the breakout.
Liquidation cluster between $0.0054 and $0.0056
The liquidation heatmap shows a dense concentration of leveraged positions above the current price, primarily between $0.0054 and $0.0056. Such areas often attract price movement, as liquidations in these zones can amplify volatility and trading volume.
Among these, stronger liquidity is concentrated at the upper end of this range. If the price continues to rise, forced liquidation of short positions may further boost buying pressure and drive the price to test higher resistance levels.
Based on the data provided, short-term bullish sentiment remains dominant, but whether prices can continue to rise depends on whether trading activity can be sustained and whether the price can hold above $0.0052.