Is JASMY’s Plunge a Comedy or a Tragedy? 🤷‍♂️😂

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Key Takeaways

JASMY, our dear friend, found itself under the weight of a formidable resistance, much like a poor actor who cannot escape the spotlight. Despite the audience’s applause (rising buying volume), the longs are being liquidated and the tokens distributed with such fervor, it seems the play is not yet over.

JasmyCoin [JASMY], the star of our financial drama, experienced one of the most dramatic plunges in recent memory, losing 14% of its value in just 24 hours. Yet, just last month, it was basking in the glory of a 22% gain. Oh, the fickle nature of fortune! 🍀💔

The market, ever the critic, has turned decidedly bearish. The long traders, once so confident, now find themselves in the wings, nursing their wounds. Token distribution remains high, but buying volume is showing signs of life. Will this newfound interest save our hero from a deeper fall, or is it merely a fleeting interlude before the final act? 🎭🔥

JASMY Hits a Major Hurdle

The latest decline occurred as JASMY approached a critical resistance zone at $0.01900, a level that has historically proven to be a formidable barrier. Like a knight facing a dragon, JASMY attempted to breach this barrier, but alas, it was repelled. 🛡️🐉

Despite forming higher highs, which suggested a potential recovery, the resistance proved too strong. Now, JASMY finds itself in a potential support zone around $0.01714, as indicated by the Fibonacci Retracement tool. This level could be the stage for a dramatic comeback, should demand materialize. But if buyers fail to show up, our hero may find itself in the hands of the bag holders. 🤑💰

If demand does not materialize at this crucial support level, the market may turn even more bearish, leading to further declines. AMBCrypto’s analysis suggests that derivative traders are betting on more downside, putting spot buyers in a precarious position. 🚨📉

Risk Level Stays High, Sellers Dominate

CoinGlass, the wise sage of the market, reveals that both the Taker Buy/Sell Ratio and liquidation statistics point to continued bearish momentum. At press time, the Taker Buy/Sell Ratio stood at 0.88, well below 1, indicating that most derivative volume is driven by sellers. 📉🚫

This suggests that bearish sentiment continues to dominate, even reflected in the Funding Rates, which lean toward shorts. Liquidation data further confirms this bias. Over the past 24 hours, long liquidations across major exchanges, including Binance and Bybit, totaled $224,240, while only $8,310 worth of short positions were closed. This disparity highlights the market’s bearish stance and reinforces the likelihood of further downside. 📉💥

Distribution High, but Hope Remains

The Accumulation/Distribution (A/D) indicator, a trusted advisor in these uncertain times, supports the bearish outlook, remaining deep in negative territory at the time of writing. With a reading of negative 43.86 billion JASMY in trading volume, distribution still outweighs accumulation. 📉🚫

However, there are early signs of a potential shift. The A/D line has shown a slight uptick, mirrored by a minor rise in the Chaikin Money Flow (CMF). When the CMF trends upward and stays in positive territory, it signals a return of buying pressure. This suggests that while JASMY is trading near the $0.01714 support, some accumulation is taking place. If sustained, this could spark a short-term positive reaction. 🌟📈

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2025-07-25 06:19