Polygon (MATIC), JasmyCoin (JASMY), and Pi (PI) Analysis
Curious about how Polygon (MATIC), JasmyCoin (JASMY), and Pi (PI) are performing in the crypto market? Let’s dive into the details regarding their prices and the latest news below.
Analyzing the Trend of Polygon (MATIC) in Comparison with JasmyCoin (JASMY) and Pi (PI)
Over the past month, the MATIC token saw a slight rebound, reaching $0.42, following significant declines in the previous period. However, this rebound faced strong resistance at $0.56, signaling a return to a bearish trend that has remained consistent daily.
- The token experienced a notable drop from $1.30 to the current level of $0.49, marking a correction of over 70%.
- Despite the decline, signs of potential exhaustion are visible in the daily charts, hinting at a possible end to the bearish phase.
- Decreasing sales volume has led to a reduction in MATIC supply, potentially paving the way for an oversold condition.
As Polygon nears the $0.428 June low, the critical support level to watch for is $0.35, with a breakdown potentially leading to the June 2022 low of $0.30.
If the market manages to surpass the $0.56 resistance, the next levels to monitor are between $0.645 and $0.77.
Challenges Faced by JasmyCoin (JASMY) in the Crypto Market
JasmyCoin (JASMY) has encountered significant challenges in the crypto market, experiencing a sharp price decline of over 28% in a single day due to intense selling pressure.
- The current trading price of JASMY is around $0.01642, with a market capitalization of approximately $833.74 million.
- Technical analysis indicates that JASMY is below its 20-day SMA and has an RSI of 26.56, suggesting an oversold phase.
- Support levels for JasmyCoin include $0.01642 and $0.0122, while resistance levels stand at $0.0270 and $0.033.
This bearish sentiment in the market has left investors uncertain about the future trajectory of JasmyCoin.
Pi Network’s Unexpected Mining Rate Increase and Future Prospects
On August 1st, Pi Network surprised the community by significantly increasing the base mining rate by 18%, contrary to expectations of a reduction.
- The increase aims to prevent exploitation that could impact the Pi community’s integrity and fairness.
- Recent changes to the base mining rate reflect Pi Network’s commitment to transparency and fairness.
- Discussions suggest a potential continued growth in the mining rate in the coming months, with an expected reduction by the end of the month in preparation for the mainnet launch.
The upcoming mainnet launch will unlock Pi Network’s full potential, enabling integration with exchanges and other blockchains to create a more accessible ecosystem for users.
Hot Take: Performance Overview of MATIC, JASMY, and PI
How are the coins Polygon (MATIC), JasmyCoin (JASMY), and Pi (PI) faring in the cryptocurrency market? Let’s delve into all the details regarding their prices and latest developments.
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