Jasmy, Fantom, Bonk Prices Surge as BTC Forms Bullish Pennant
JasmyCoin ($JASMY), Fantom (FTM), and Bonk prices continued soaring on Monday morning as signs of Bitcoin’s bullish breakout jumped. Jasmy, the popular Japanese cryptocurrency, surged to $0.027, which was over 823% from its lowest level this year. It has emerged as one of the best-performing cryptocurrencies this year.
Why Fantom, Bonk, and Jasmy are rising
Similarly, Fantom price surged to a multi-year high of $0.7490, 323% from its lowest level in 2023. Bonk, the popular Solana meme coin, has more than doubled in the past few days. It has roared back by over 245% from its lowest point this year.
This price action is happening as investors have embraced a risk-on sentiment in the crypto industry. This is evidenced by the fact that the fear and greed index has jumped to the extreme greed zone. Cryptocurrencies tend to do well when the index is rising.
The three cryptocurrencies have also become extremely popular among crypto traders. A closer look shows that they were trending in most trading chat rooms in platforms like StockTwits, Twitter (X), and Reddit.
Bitcoin price bullish pennant pattern
The outlook for these tokens is extremely bullish because of Bitcoin’s performance and chart pattern. On the chart below, we see that Bitcoin has formed a bullish pennant pattern. This pattern is characterized by a long flag pole and a triangle-like pattern.
Bitcoin has now moved slightly above the upper side of this pennant pattern and is sitting near its highest point this year. It has also jumped above all moving averages and the important support level at $60,000.
Therefore, the outlook for Bitcoin is extremely bullish, with the next point to watch this week being at $69,000. With the halving event set to happen in April, there is a possibility that the coin will rise above $70,000 soon amid supply concerns.
If this Bitcoin price forecast is accurate, it means that other altcoins will do well since they have a lower price. This is more so among meme coins like Bonk and Pepe, which trade for cents.
Therefore, the outlook for Jasmy is bullish, with the next point to watch being at $0.030, which is about 20% above the current level. Similarly, Bonk price will likely jump from the current $0.000033 to over $0.000040. Fantom, on the other hand, has the potential to move from $0.70 to $0.8 soon.
