Jasmy Coin Price Prediction: Is a New Price Low Likely To Be Set?

Summary:

Jasmy Coin price has continued to trade near its all-time price low of $0.0041, which it set on October 28.

Jasmy Coin price has continued to trade near its all-time price low of $0.0041, which it set on October 28. Today, despite it having recovered and risen by 24 per cent from the price low, Jasmy Coin is still down by 20 per cent for the month of October.

However, Jasmy Coin’s recent performance has not been a surprise to many who have followed it for the past two years. It set its all-time price high of $4.99 on February 16, 2021, and since then, it has dropped by more than 99 per cent. In fact, most of the loss in value has happened this year, with year-to-date data pointing to a 93 per cent drop in the value of the crypto.

The fall of Jasmy Coin has come about despite being run by some of the industry’s top executives who once worked at Sony. This includes the former Sony president Kunitake Andō. At its core, the project promised the decentralization of the internet of things which would have allowed users to reclaim data sovereignty.

The idea quickly gained traction upon launching, which propelled it to its last year’s all-time price high of $4.99. However, fast forward to today, and the project is a shell of its former self. It has also failed to leave to what it was hyped to be, which has seen it lose more than 99 per cent of its value since hitting its highs early last year.

Jasmy Coin Price Prediction

Looking at the chart below, we can see that since hitting the price low of $0.0041 price level, Jasmy Coin has traded in a relatively bullish trend. The impact of the trend has seen it recover by 24 per cent from its price low. However, the recovery has not been big enough to offset losses made in October, leaving it down by 20 per cent for the month.

In today’s trading session, Jasmy Coin is up by less than a percentage point. However, the session follows an aggressive bearish trend from yesterday, which saw Jasmy lose 7 per cent of its value. Therefore, I expect the bearish trend to continue with a possible trade below the all-time price low of $0.0041 to be hit. However, a trade above yesterday’s price high of $0.0068 will invalidate my bearish analysis.