JasmyCoin price has entered a bear market, falling over 53% from its December 2024 highs. JasmyCoin ( JASMY ), often referred to as Japan’s Bitcoin ( BTC ), has dropped to its lowest level since November 2024. The ongoing sell-off is attributed to waning sentiment across the cryptocurrency market, with most altcoins experiencing similar pullbacks. One potential catalyst for JasmyCoin’s price recovery is its focus on becoming a prominent player in the artificial intelligence sector. In a recent statement, Hara, Jasmy’s founder, emphasized the network’s use of decentralized GPUs to deploy next-generation AI agents. You might also like: Dogecoin price rare pattern and Elliot Wave points to a 110% surge Hara’s comments came in response to an X thread by Janction, a Decentralized Public Infrastructure platform incubated within the Jasmy community. Janction has integrated GPUs into its DePIN framework, enabling AI agents with transparent processing and secure data sharing. #JANCTION We will leverage #GPUs to deploy a platform to enhance the next generation of #AI agents. https://t.co/2lHWgyhzwp — HARA (@HARA_JasmyCFO) January 18, 2025 AI agents have gained popularity within the crypto space. For instance, Virtuals Protocol ( VIRTUAL ), which hosts hundreds of AI agents, boasts a market cap exceeding $2 billion. Individual AI agents within its ecosystem, such as Game and aixbt, have a combined market cap of over $400 million. Another positive indicator for JasmyCoin is the continued decline in exchange balances. According to CoinGlass, there are currently 9.11 billion JASMY tokens on exchanges — the lowest level in over a year and 10.92 billion below its 2024 peak. Jasmy exchange balances | Source: CoinGlass Declining exchange balances are often seen as a bullish signal, as they suggest investors are moving their coins to self-custody wallets, reducing potential sell pressure. Jasmy price technical analysis Jasmy coin chart | Source: crypto.news The daily chart shows that JasmyCoin has settled around its 200-day Exponential Moving Average. It has also formed a cup-and-handle pattern, with the upper resistance line at $0.0445. Additionally, the coin is trading within a falling wedge pattern, with the two trendlines nearing their convergence point. The combination of the wedge, cup, and handle patterns indicates the possibility of a bullish breakout. If such a breakout occurs, the first target for JasmyCoin would be $0.0445 — a 62% increase from the current level. A move above this level could signal further gains toward $0.060, its highest swing price in 2024, representing a 115% increase from current levels. You might also like: Ethereum price is trapped, but leverage ratio points to a rebound
