JASMY rally stalls following whale profit-taking – What’s next?

• Jasmycoin has seen a massive surge of whale activity after prices hit a high local price at $0.059.
• Even though profit-taking has been observed, the trend upwards could not end immediately.

Jasmycoin [JASMY] It was among the coins which saw an increase in transactions by whales over the last week.

The earliest known instance of a Santiment Insights Brianq, a user on post.com, noted that JASMY is among projects with a market capitalization of more than $500,000,000.

The implications of the increase in whale activities

Source: Santiment

Jasmycoin experienced a massive 616% growth in whale transactions. This is defined as any purchase of $1 million and above. This dramatic increase in whale transactions could be a result of profit-taking, or it could indicate massive accumulation depending on price movements.

Source: TradingView – JASMY/USDT

Jasmycoin tested local highs of $0.059 in the last five days and then retreated to the $0.032 zone.

JASMY bears have defended these two zones during this downward move.

Whale activity was timed to show a combination of profit taking near highs and accumulation in the area of $0.04 or less.

AMBCrypto’s analysis of AMBCrypto’s timeframe daily showed a bullish market structure. MFI didn’t show any divergence.

For the rally to be sustained, the high volume of trading in December needs to increase.

Profit taking during an uptrend

Source: Santiment

JASMY surpassed the previous 6-month-highs in terms of daily active addresses in November and in December. The increase in attention was not surprising, since the prices were rising.

The average coin age also trended downwards, particularly in the last six weeks. As strong rallies tend to be accompanied with profit-taking, this is expected.

It was interesting to note the increase in whale sales. There were many of them over the last few days, when JASMY reached new local highs.

On the 9th December, JASMY traded near $0.032 and $0.05 demand zones.

Source: Santiment

Supply distribution was in line with the distribution plan up until November 30th. In the past 10 days, Jasmycoin was purchased by different groups of Jasmycoin holders at various times.

On the 29th November, 10k-10M was launched.

Here are some realistic or non-realistic examples. JASMY’s market cap in BTC’s Terms

The 10M+ wallets sold until the 8th December and then began increasing their stock on Monday.

Jasmycoin, in general, appeared to be a bullish coin despite whale activity. Before the next upward trend, it is expected that there will be a period for consolidation.