The Jasmi coin value continued its bottom trend this week as the Crypto Fear and Greed Index fell to 35, leading to an increase in market uncertainty.
Jasmine (Jasmi) retreated until $ 0.021, declining its December high of 63%. This means that it is now firm in a bear market, where an asset decreases at least 20% from its recent peak.
The ongoing Jasmine cell-off coincides with a broad market recession, as traders remain frightened and live on many edges. Bitcoin (BTC), which greatly affects Altcoin movements, has come down from $ 109,200 to $ 96,000, and more frightening spirit.
The Crypto Fear and Greed Index, which was at 88 in the extreme greed field earlier this year, is now 35. Cryptocurrency prices often decrease rapidly when the market spirit leads to fear.
On the positive side, there are indications that Jamie holders are not selling. As coincidenceOn February 12, the number of Jasmi holders increased to 88,600, which was above 85,300 a month ago. Typically, crypto traders sell their holdings during a decline in fast price, but this trend otherwise suggests.
Another possible catalytic exchange for the price of JC is a continuous decline in the balance. The total supply on exchanges has increased to 8.49 billion below 11.67 billion in March last year.
A decline in exchange balance is often a sign that holders are not carrying their tokens to CEX platforms to sell. Instead, most investors are keeping them in a self-custody purse, hopefully the coin will turn back.
Detective price analysis
Another factor of fall in the ongoing price of Jasmine is the formation of a falling wedge pattern. It is characterized by changing the pattern, two descending, trendlines, often indicating a possible reversal. In this case, the trendline of Jasmi is near its confluence point, suggesting that a rebound may soon happen.
The relative power index has also formed a falling veg chart pattern. Meanwhile, the percentage price of the percentage since August 2024 has fallen at its lowest point. Jessie last saw a strong reversal after reaching this level.
