JASMY Surges 12% Amidst Volume Spike, Faces Key Resistance

JasmyCoin (JASMY) experienced a significant 12.04% rally, reaching $0.006009, accompanied by a 204.96% increase in daily trading volume. This surge indicates heightened speculative interest and aggressive buying activity, pushing the market capitalization to $297.11 million. The Vol/Mkt Cap ratio rose to 13.88%, highlighting increased turnover and potential pressure near the $0.0096 resistance level.

JASMY is currently testing the upper band of a descending regression channel, which aligns with the $0.0096 supply zone. This convergence of resistance levels presents a critical test for buyers, who face the challenge of breaking the downtrend. Open interest has climbed 23.57% to $22.43 million, suggesting rising leveraged exposure and potential volatility. Traders are advised to monitor price behavior and derivatives activity closely as the market approaches this pivotal resistance.