Date: Sun, March 02, 2025 | 06:16 PM GMT
The cryptocurrency market has witnessed a major bullish pump in the past hours following the latest announcement by U.S. President Donald Trump regarding the establishment of a crypto strategic reserve, which includes assets like BTC, ETH, ADA, XRP, and SOL.
This announcement has ignited a wave of momentum across the altcoin market, and two IoT-focused tokens, IOTA and JASMY, are catching significant attention. IOTA has surged over 25%, confirming a key breakout, while JasmyCoin (JASMY) has gained 8%, hinting at a potential similar move.
IOTA (IOTA) Analysis
IOTA has successfully broken out from a prolonged falling wedge pattern, which had suppressed its price movement for several weeks. Today, the token managed to surpass the upper trendline of the wedge, leading to an initial price surge to a local high of $0.31 before correcting for a retest.
As of now, IOTA is trading at $0.25, consolidating at a key breakout retest zone. If this level holds as support, the next upside targets are $0.31 and $0.41, which would represent an additional 66% price increase from current levels.
The 200-day moving average (MA) at $0.2256 played a crucial role in confirming the breakout, and with the market sentiment turning bullish, IOTA could be poised for further gains.
JasmyCoin (JASMY) Analysis
JASMY is mirroring IOTA’s earlier pattern, trading inside a falling wedge since its rejection from the $0.05980 high on December 5. The token recently rebounded from a critical support level near $0.016, and is now testing the upper resistance of the wedge, trading at $0.019.
If JASMY confirms a breakout with a successful retest, its next major resistance levels are the 50-day moving average (MA) and the $0.025 price zone. A strong move past this region could open the doors for a rally toward $0.034, representing a potential 78% upside from the current price.
Final Thoughts
IOTA’s confirmed breakout has set the stage for a bullish continuation, and JASMY appears to be on the verge of following the same path. If JASMY manages to break through its resistance levels, traders could witness significant gains in the coming days.
With the crypto strategic reserve announcement sparking renewed interest in altcoins, these IoT tokens could be among the next major movers in the market.
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