JasmyCoin price has entered a bear market, falling over 53% from its December 2024 highs.
JasmyCoin (JASMY), often referred to as Japan’s Bitcoin (BTC), has dropped to its lowest level since November 2024.
The ongoing sell-off is attributed to waning sentiment across the cryptocurrency market, with most altcoins experiencing similar pullbacks.
One potential catalyst for JasmyCoin’s price recovery is its focus on becoming a prominent player in the artificial intelligence sector. In a recent statement, Hara, Jasmy’s founder, emphasized the network’s use of decentralized GPUs to deploy next-generation AI agents.
Hara’s comments came in response to an X thread by Janction, a Decentralized Public Infrastructure platform incubated within the Jasmy community. Janction has integrated GPUs into its DePIN framework, enabling AI agents with transparent processing and secure data sharing.
AI agents have gained popularity within the crypto space. For instance, Virtuals Protocol (VIRTUAL), which hosts hundreds of AI agents, boasts a market cap exceeding $2 billion. Individual AI agents within its ecosystem, such as Game and aixbt, have a combined market cap of over $400 million.
Another positive indicator for JasmyCoin is the continued decline in exchange balances. According to CoinGlass, there are currently 9.11 billion JASMY tokens on exchanges — the lowest level in over a year and 10.92 billion below its 2024 peak.
Declining exchange balances are often seen as a bullish signal, as they suggest investors are moving their coins to self-custody wallets, reducing potential sell pressure.
Jasmy price technical analysis
The daily chart shows that JasmyCoin has settled around its 200-day Exponential Moving Average. It has also formed a cup-and-handle pattern, with the upper resistance line at $0.0445.
Additionally, the coin is trading within a falling wedge pattern, with the two trendlines nearing their convergence point. The combination of the wedge, cup, and handle patterns indicates the possibility of a bullish breakout.
If such a breakout occurs, the first target for JasmyCoin would be $0.0445 — a 62% increase from the current level. A move above this level could signal further gains toward $0.060, its highest swing price in 2024, representing a 115% increase from current levels.
