Key Takeaways:
- Cayman Islands-based top-league crypto exchange BitMart listed JASMY on Dec 21.
- JasmyCoin price exploded after the announcement, retesting a significant support in the days after.
YEREVAN (CoinChapter.com) – JasmyCoin (JASMY) price jumped over 50% on Dec 21 and consolidated three days after the rally. JasmyCoin’s streak of listings and growing adoption might have caused the buying pressure. In detail, a leading exchange BitMart listed the Japan-based coin. The exchange operates in 180 countries and has over 5.5 million users worldwide, significantly increasing JASMY’s exposure.
The Cayman-Islands based company announced the listing on Dec 20. BitMart specified that the trading would start on Dec 22, at 10:00 am EST. Moreover, the withdrawals became available on Dec 23 at 10:00 am EST. The only available trading pair for JASMY on BitMArt is JASMY/USDT.
Also read: JasmyCoin(JASMY) flashes conflicting technicals amid growing adoption.
Previously in December, JasmyCoin also scored a few key partnerships with Crypto.com, another global exchange that listed the coin on Dec 9. Additionally, the digital asset collaborated with NFT MarketPlace Sakura and Nippon Travel Agency to use blockchain technology in the tourism sector.
Shortly after the BitMart listing announcement, JasmyCoin bulls pumped the price to $0.12. However, the rally came to a halt the next day.
JASMY price chart
As CoinChapter covered in its previous JasmyCoin review, the token traded in a bullish formation dubbed the “Falling Wedge.” The latter consisted of two downward-sloping trendlines that lowered the price swing and promised an uptrend once JASMY broke out of the resistance.
The scenario played out, and JasmyCoin gained over 50% in a day. Unsurprisingly, the digital asset was corrected the next day. However, it also retested a significant resistance-turned-support line, which could assist JASMY in a continuation rally.
The mentioned line at $0.088 has capped the token’s previous highs, and retesting it as support could solidify JASMY’s bullish bias.
Also read: Jade Protocol (JADE) token price continues to crash as scam allegations mount.
Moreover, the digital asset’s trading volume has declined since early November, indicating a holding incentive among JASMY traders. In short, when enough traders would rather keep a token than exchange it for other crypto or fiat currencies, the asset’s price could go up.
