JasmyCoin (JASMY) has captured the spotlight in the crypto market after surging over 14% in the last 24 hours, making it one of the day’s top-performing digital assets. While this strong move was largely driven by significant whale activity, including heavy buying from Binance, traders remain split on what comes next. A critical resistance level now stands between JASMY and a possible 97% rally.

The recent price jump brought JASMY to a high of $0.0159, driven by large-scale accumulation from high-volume holders. According to data from Arkham Intelligence, major players—including Binance, Bybit, Bitturk, and Bitvavo—contributed a combined $8.47 million to the surge, purchasing millions of tokens and influencing market sentiment. Among these, Binance emerged as the dominant whale, now holding 9.2% of JASMY’s total circulating supply, valued at around $72 million.

While such accumulation from a top-tier exchange can inspire investor confidence, it can also raise concerns over centralized ownership and the risk of sudden distribution. For now, however, this buying spree has helped lift the token out of a recent lull and back into a key demand zone.

From a technical perspective, the daily chart shows that JASMY’s rally was supported by a movement into a fair value gap (FVG), which typically marks an area of increased demand and unfilled orders. This helped push prices higher, but for JASMY to continue its climb, the token must clear a crucial resistance level at $0.01615. A successful breach of this barrier could lead to a sharp upward movement toward $0.03196 — a potential gain of 97% from current levels.

However, a breakout is far from guaranteed. The token could just as easily drop back into the FVG to gather more buying momentum before making another attempt at resistance. This scenario would allow JASMY to build support and potentially tap into liquidity zones identified near the $0.016 mark. These zones often house unfilled market orders, which can provide the thrust needed for further price acceleration.

Still, some indicators suggest caution. The Money Flow Index (MFI), which tracks liquidity inflows and outflows, is signaling that buyers may be running out of steam. At a reading of 76.82, the MFI is approaching the overbought territory. If it crosses above 80 and begins to reverse, that could mark the start of buyer exhaustion — a common precursor to price pullbacks due to dwindling momentum.

The Relative Strength Index (RSI) also leans bearish. After climbing steadily during the rally, the RSI now sits at 56.80 and is heading downward. If the RSI slips below the neutral 50 mark, it would confirm weakening momentum, increasing the likelihood of a short-term correction.

Additionally, market-wide sentiment isn’t fully aligned with the bulls. Data from Coinglass reveals that short positions are starting to dominate, as sellers are now paying a premium to maintain their positions. This flip in funding rates suggests that more traders expect the price to decline rather than rise, creating downward pressure that could counteract whale-driven gains.

Despite these cautionary signals, the long-term outlook for JASMY remains tied to broader participation. While the recent whale accumulation is significant, it may not be enough to sustain the rally without support from other market segments. If retail and institutional investors follow suit, JASMY could gather the strength needed to break through resistance and aim for that $0.03196 target.

For now, JASMY stands at a pivotal point. The next few days will be critical in determining whether this momentum translates into a sustained breakout — or if the rally was a temporary spike fueled by whale interest.