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JasmyCoin (JASMY) has recently gained significant value, exciting investors. According to recent data, the Decentralized Physical Infrastructure Network (DePIN) altcoin rose by 9.2% in the last 24 hours and an impressive 44% in the last 7 days. This price increase was accompanied by an upward trend and market activity.
Potential for Over 60% Rally
Technical analysis reveals that JASMY recently broke out of an ascending triangle formation, triggering a significant 63% price surge. The coin’s price movement is currently well above both the 50-day and 200-day moving averages, indicating a bullish outlook for the project.
However, amidst the upward momentum, analysts point out the presence of unfilled fair value gaps (FVGs) in JASMY’s price chart, particularly at the $0.032 and $0.028 price levels. These areas represent potential support zones coinciding with key Fibonacci retracement levels, indicating a possible pullback before further upward movement.
Gaining Strength from DePIN Hype
The recent rise in JASMY’s price can be linked to the altcoin gaining significant market share in this sector. Additionally, speculations surrounding a collaboration between JasmyCoin and Apple have further increased investor interest, especially after Apple’s announcement regarding the integration of Japan’s ‘My Number’ application into iPhones.
Despite clarifications about the nature of JasmyCoin’s project and its differences from the ‘My Number’ application, investor hype around the altcoin remains high. The rise in JASMY’s price has brought it closer to industry giants like Celestia (TIA), reflecting the growing importance of DePIN in the digital space.
Looking ahead, as the DePIN sector continues to mature, altcoins like JASMY may outperform the market. The involvement of industry giants like Apple and Panasonic in JasmyCoin’s domain highlights the potential for future integration and collaboration. Investors are closely monitoring market developments, ready to seize potential buying opportunities amid the ongoing rise in JASMY’s price.
