Can JASMY sustain its 27% weekly rally? – THESE indicators say…
Main Idea
JasmyCoin (JASMY) continues its upward trend with a 12% rise, supported by bullish derivatives trading and memecoin sector growth, but faces potential challenges from spot market selling.
Key Points
1. JasmyCoin (JASMY) rose 12% recently, extending its 27% weekly rally, aligning with broader memecoin sector gains.
2. Derivatives traders remain bullish, with OI-Weighted Funding Rate turning positive and Open Interest (OI) inflows increasing by $6.47 million (14%) in 24 hours.
3. Market sentiment is 87% bullish, indicating strong investor confidence and potential for further upward movement.
4. Spot market selling of over $2.3 million in JASMY over the past 72 hours suggests some investors are cashing out, posing a challenge to the rally.
Description
Derivatives traders stay bullish on JASMY, yet spot selling hints the rally could face a critical test.
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