JASMY Plummets 7%: Will Bulls Dodge a 15% Market Meltdown?

JASMY takes a nosedive as bears tighten their grip—can the bulls rally before a full-blown crash?

Blood in the streets? Not yet. But crypto's favorite rollercoaster just hit a 7% drop, with traders eyeing that ominous 15% cliff edge. Time to see if 'buy the dip' still works in 2025—or if this is another case of hopium addicts getting rekt by basic market gravity.

Technical indicators scream caution while bagholders scream louder. Meanwhile, Wall Street suits sip lattes and whisper 'told you so' into their blockchain ETFs.

Technical Indicators Point to More Downside

Despite the possibility of a bullish reversal at support, technical indicators suggest that more downside could be in store. The Relative Strength Index (RSI) fell to 41.81, a level that places it within bearish territory. Traditionally, RSI values between 30 and 50 signal bearish control, reflecting waning buying pressure.

Adding to the concern is the Chaikin Money FLOW (CMF) indicator, which tracks capital flow into and out of an asset based on trading volume. The CMF reading recently dropped to -0.06, indicating that selling activity is outweighing buying pressure. This aligns with the RSI’s bearish signal, together hinting at a market still tilted toward downward momentum.

So while the price is testing a key support, the technical backdrop isn’t yet supportive of a strong bounce. Without a shift in sentiment or volume, the bears appear to be holding the upper hand.

On-Chain Data Suggests Accumulation Is Underway

Interestingly, despite these bearish indicators, there are signs that some investors are quietly accumulating JASMY. According to data from CoinGlass, there was a positive exchange netflow of around $235,000 worth of JASMY moving from exchanges to private wallets over the last 24 hours. This movement typically indicates investors withdrawing tokens from trading platforms, suggesting a willingness to hold long-term rather than sell.

This accumulation could be a bullish signal, especially if more investors start buying at these levels in anticipation of a rebound. Such behavior often precedes short-term rallies when supply on exchanges becomes limited.

Further strengthening the bull case is the Open Interest Weighted Funding Rate, which recently turned positive at 0.0009%. This marks the first time in a while that long positions have regained dominance in the derivatives market. When funding rates rise into positive territory, it reflects an increase in trader confidence and demand for long positions.

What Happens Next? A Crucial Test for Bulls

In summary, JASMY sits at a make-or-break level. On one hand, technical indicators warn of more losses ahead, as bearish momentum and declining volume persist. On the other, on-chain and derivatives data hint at accumulating demand, with some investors positioning for a potential bounce.

If buyers are able to sustain momentum and defend the $0.0124 support, there’s a good chance the market could trap bearish traders in a short squeeze, setting the stage for a reversal rally. However, if this zone gives way under continued selling pressure, JASMY could tumble toward $0.0120 or even $0.00822.

Bottom line: The next 48–72 hours are critical. Traders and investors should watch for price reaction around the current support. If volume picks up and funding remains positive, a reversal could be underway. But without those catalysts, the path of least resistance remains down.