Key Takeaways

JASMY remained under intense downside pressure as it traded into a key resistance level. Despite rising buying volume, long liquidations and aggressive distribution of JASMY tokens have surged.

JasmyCoin [JASMY] recorded one of the steepest declines in the market in the past 24 hours, losing 14% after gaining 22% over the past month.

Market indicators suggested that bearish sentiment continued to build.

Long traders suffered significant losses, and token distribution remained high. However, buying volume has started to tick upward, raising the question: can this renewed interest prevent a deeper fall?

JASMY hits major hurdle

The latest decline followed JASMY’s move into a key resistance zone at $0.01900.

This level previously acted as a strong rejection zone, triggering pullbacks. Although the JASMY had just begun recovering, as seen by its higher high candle formations, the resistance held firm.

Interestingly, the Fibonacci Retracement tool showed that JASMY had now entered a potential support zone around $0.01714.

This level could serve as a catalyst for a rebound if demand materializes. A failure to attract buyers at this support could lead to further declines, turning hopeful buyers into bag holders.

AMBCrypto’s analysis indicates that derivative traders are positioned for further downside, placing spot buyers in a risky position.

Risk level stays high, sellers dominate

According to CoinGlass, 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—signaling that most derivative volume is driven by sellers.

This suggests that bearish sentiment continues to dominate, even reflected in the Funding Rates leaning 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 shows the market’s bearish stance and reinforces the likelihood of further downside.

Distribution high, but hope remains

The Accumulation/Distribution (A/D) indicator supported the bearish outlook, as it remained deep in negative territory at the time of writing.

With a reading of negative 43.86 billion JASMY in trading volume, distribution still outweighed 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.