JASMY's 14% 24-Hour Drop Tests $0.01900 Support as $224K Long Liquidations Signal Seller Dominance

JASMY’s 14% decline over 24 hours intensified bearish momentum as the token tested critical resistance at $0.01900, a level previously linked to sharp pullbacks. Despite a 22% monthly gain, the recent selloff underscores fragile market confidence. On-chain data reveals $224,240 in long liquidations across major exchanges, compared to just $8,310 in short closures, highlighting sellers’ dominance. The Taker Buy/Sell Ratio of 0.88 further confirms the bias, with derivative volumes skewed toward short positions. CoinGlass analysis notes that funding rates favoring shorts reinforce the bearish tilt, leaving spot buyers vulnerable to further declines [2].

Technical indicators paint a mixed picture. While JASMY’s Fibonacci Retracement suggests a potential support zone at $0.01714, the Accumulation/Distribution (A/D) indicator remains deeply negative at -43.86 billion JASMY in trading volume, signaling persistent distribution. However, early signs of accumulation have emerged: a slight uptick in the A/D line and a rising Chaikin Money Flow (CMF) hint at renewed buying interest. These signals could bolster a short-term rebound if buyers step in at the $0.01714 level, though sustained weakness could push the token below this threshold and trigger stop-loss cascades [2].

Market sentiment aligns with the on-chain data. The Pepe Fear and Greed Index, a community-driven metric, spiked to 12—a level historically associated with short-term capitulation—during the selloff. While the index lacks predictive power in isolation, its current reading mirrors past episodes of retail investor panic. Notably, no significant institutional or algorithmic buying activity has emerged to stabilize prices, deepening concerns about liquidity [1]. Analysts remain divided: some frame the drop as a “healthy correction” following a 10-week rally, citing absent whale activity as evidence of a orderly unwind. Others warn that JASMY’s tokenomics—criticized for high supply inflation—could attract regulatory scrutiny, especially if the U.S. SEC intensifies oversight of unregistered token sales [1].

Broader market dynamics complicate the outlook. While Bitcoin and Ethereum have held above critical supports, altcoins like JASMY face heightened pressure. Traders are monitoring two pivotal levels: a 50% retracement at $0.028 and a psychological floor at $0.03. A breakdown below these thresholds could trigger stop-loss orders and accelerate the decline. Conversely, a recovery to $0.043—pre-selloff levels—might signal renewed optimism, though bearish fundamentals could limit upside. The interplay between technical support, liquidation dynamics, and sentiment metrics will likely dictate JASMY’s near-term trajectory as investors weigh risk against potential rebounds.

Sources:

[1] [Pepe Fear and Greed Index | Multiple Timeframes] [https://cfgi.io/pepe-fear-greed-index/]

[2] [JASMY’s 14% Plunge Sparks Selloff – Is this the end? THIS data says…] [https://ambcrypto.com/jasmys-14-plunge-sparks-selloff-is-this-the-end-this-data-says/]