Jasmy is a blockchain project that gives consumers the power over their data instead of the data being stored by large corporations that sell it to advertisers and can be lost via hacking incidences.
The project looked extremely promising at the beginning, given that it was started by ex-Sony executives and is based in Japan, a leading economy with significant manufacturing capacity.
Despite the Jasmy project’s potential, its token has been struggling recently despite its impressive rally when first listed on 7 October 2022. The Jasmy coin rallied from an opening price of $0.047 to a high of $0.35 in several days but has since fallen below its initial lows.
However, Jasmy’s situation improved in the past month after its coin rose by 111.47% in one month. However, it is still down 65.35% in 2022, as are many other cryptocurrencies, given the massive declines witnessed in the crypto markets in January and February.
The rally in Jasmy’s coin appears to be losing steam after hitting the $0.047 resistance level on 18 March 2022. The price has tried to break above the level several times with no success, and the price started trending lower in the recent past.
Investors wondering what’s next for the Jasmy coin should be aware that the coin could be headed much lower, given that there is no significant support level along the way up to the all-time low of $0.010.
However, a drop to the $0.010 level would open multiple opportunities for traders as the chances of a rally higher would increase significantly. Therefore, I would wait for a decline to the all-time support level before buying.
Another interesting level is the $0.047 resistance level; a break above this level would lead to further gains for buyers, with the next significant level being at $0.098. However, I would not buy Jasmy shares at their current price, given that they are trading in the middle of a wide range.
As for the project’s long-term prospects have positive prospects, including the addition of cross-chain bridges, as hinted at by its CFO Hiroshi Harada in May 2021. At the time, Ethereum gas fees were skyrocketing, and Jasmy was considering other chains such as the Binance Smart Chain and Polygon.
Jasmy also has its Jasmy League, a community of developers supporting and inspiring innovation within the Jasmy blockchain project.
*This is not investment advice. Always do your due diligence before making investment decisions.
Jasmy price prediction
The Jasmy price has risen 111.47% in one month but is still down 65.35% in 2022. What’s next?
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Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading