As mentioned in our previous Jasmy coin price prediction, the price confirmed the breakout couldn’t get a follow-through. Consequently, the price is now trading at $0.009 and on the verge of making new lows. JASMY crypto surged after breaking out of the descending triangle. However, the price couldn’t overcome the $0.01-0.012 resistance and lost momentum after multiple attempts.
Most altcoins are on the verge of making fresh lows as the market has tumbled due to the highest ever US inflation numbers. Bitcoin price is struggling to stay above $20,000, and there has been increased volatility since the release of the CPI report.
According to Jasmy coin news, it has become the official sponsor of Sagan Tosu football club. JASMY has also released a Japanese club fan token website, and the pre-registrations are open. This fan token will unite the whole Sagan Tosu community by leveraging blockchain technology. Furthermore, the token aims to strengthen the team while entitling its holders to many perks and privileges.
Despite a strong community, the JASMY coin still hasn’t lived up to its hype. Many short-term traders view the project as only a pump and dump coin. As a result, it has been in a constant downtrend since November 2021.
Technical analysis of the JASMY coin price chart shows a clear breakout of the descending wedge. The price even confirmed the breakout and hit the $0.012 price target. However, the coin lost momentum due to the negative price action of Bitcoin. The price has bounced off the $0.0085 support once again. After multiple retests, the support has become very weak and might break on the next retest.
A breakdown of this support would mean a bearish JASMY coin price prediction. In such a scenario, the first target for the bears would be $0.05. However, if JASMY bulls could somehow overcome the $0.01-0.012 resistance, our price analysis would need a revision. You can trade JASMY by signing up on Binance.
This post was last modified on Jul 14, 2022, 17:10 BST 17:10