Jasmy Coin Price Prediction: Any Future For This Cryptocurrency?

Summary:
• The Jasmy Coin has dropped sharply recently. We explain whether JASMY is a good investment or whether it has a future.

The Jasmy Coin price has been in a strong bearish trend in the past few months and is currently hovering near its lowest level on record. It has crashed by over 96% from its all-time high, bringing its total market capitalization to about $59 million. The coin has a maximum circulating supply of over 50 billion coins and a fully diluted market cap of over $627 million.

The Internet-of-Things (IoT) is one of the fastest-growing industries globally today. It is a technology that enables machines to communicate with one another and with humans. For example, it is the same tech that helps autonomous cars work. Other areas of applications of IoT are in smart cities, smart homes, and even in healthcare. There are several blockchain platforms that are seeking to change this industry. For example, IoTeX aims to connect billions of devices.It also has a smart contract feature that helps developers to build IoT projects. 

Jasmy is another smaller Japanese project that aims to become a leading player in the industry. The platform helps to solve problems associated with centralized consumer data. As a result, it hopes to create an IoT ecosystem where businesses and consumers can secure data. JasmyCoin is the native token for the ecosystem. Still, in the past few months, on-chain statistics show that the volume of JASMY transactions has dropped sharply. Also, it is unclear whether any developers are using the network.

Jasmy Coin price prediction

The 4H chart shows that JASMY has been in a strong downward trend in the past few months. The coin has formed a descending channel that is shown in black. This decline is a sign that bears are still in control. It has also dropped below the 25-day moving average,while the Relative Strength Index (RSI) has dropped below the key level of 50. It is still pointing downwards.

Therefore, the path of the least resistance for the Jasmy Coin price is to the downside, with the next key support being at $0.010. This view will be invalidated if the coin moves above $0.020.