Although derivative traders remain optimistic about JASMY's future, large investors continue to sell, creating bearish pressure. This sell-off coincides with a significant supply zone, potentially limiting the asset's upward potential.
JASMY , a cryptocurrency project, witnessed a surge in buying pressure, propelling its price upwards by over 10%. This surge is attributed to derivative traders placing bullish bets on the asset. However, a countervailing force emerged from large investors, who, despite the positive sentiment, continued to sell their JASMY holdings, potentially hindering the asset's upward momentum.Despite the bullish sentiment driven by derivative traders , large investors displayed a bearish stance.
Data from large holders' netflow, which tracks the buying and selling activities of this investor group, revealed a significant sell-off. Over the past 24 hours, these large investors moved a total of 16.19 million JASMY from their wallets back to crypto exchanges. This influx of sell orders added to the downward pressure on JASMY's price.The downward movement intensified as JASMY encountered a substantial supply zone, marked by the In/Out of the Money Around Price (IOMAP) indicator. This level, situated between $0.0215 and $0.0253, with a midpoint at $0.023, exhibits a significant concentration of sell orders. A staggering 8,350 addresses have placed a sell volume of 11.13 billion JASMY at this level. This confluence of sell orders amplified the downward pressure on the asset's price
JASMY Cryptocurrency Derivative Traders Large Investors Price Analysis
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