JasmyCoin (JASMY) is experiencing a significant price surge, trading near $0.00873 with a gain of over 16% in a single day. The rally follows a decisive technical breakout from a multi-month descending channel that had been guiding the price lower since August. The move is backed by a dramatic surge in trading volume, which has increased by over 470% to approximately $166 million, indicating strong buyer conviction.
The breakout occurred after the price successfully defended a key demand zone between $0.0060 and $0.0065 throughout late December. The latest price action has pushed JASMY above its 20-day and 50-day moving averages, a bullish short-term signal. However, the token still faces major overhead resistance near the 200-day moving average around $0.0117.
Notably, there has been no fresh project-specific news from Jasmy to trigger this move. Analysts attribute the rally to a broader shift in market sentiment, including strength across the altcoin sector, rotation into legacy tokens that have been heavily sold off, and improved risk appetite following stability in Bitcoin's price. The On-Balance Volume (OBV) indicator has turned sharply higher, climbing toward 179 billion, suggesting this is a volume-backed accumulation phase rather than a low-liquidity bounce.
Traders are now watching key levels. Immediate resistance lies in the $0.0095–$0.0100 range, with major resistance at the 200-day MA zone of $0.0110–$0.0117. On the downside, key support levels are at $0.0075 and $0.0062. The sustainability of the bullish move will depend on the price maintaining its position above the channel breakout level.
