The value of Jasmy coins has shown a sideways trend in recent days, unlike other cryptocurrencies that have registered significant changes. On Tuesday, the coin traded at $0.0035, remaining within the range of recent months, slightly above this month’s low of
$0.0030.
Jasmy Coin, a modest but extremely popular cryptocurrency, has Japanese origins and was launched by former Sony executives. It is often considered the Japanese version of Bitcoin.
However, unlike BTC, Jasmy has a deeper presence in the blockchain industry. The developers claim that their platform is widely used in the data privacy sector and in the Internet of Things (IoT). In particular, Jasmy is committed to ensuring the security and protection of user data, also allowing secure device management. Last but not least, cryptocurrency provides important support to companies in protecting their sensitive data
.
The value of Jasmy coin tends to follow that of Bitcoin. Therefore, a key event to closely monitor this week will be the Federal Reserve’s interest rate decision. Most economists expect the Fed to keep rates unchanged at 0.25%, as
previously reported.
The central bank is expected to adopt an accommodative attitude due to persistent inflation in the country, which reached 3.7% in September, according to data from the Bureau of Labor Statistics (BLS). A more restrictive stance on the part of the Fed could negatively affect Jasmy
and other cryptocurrencies.
Jasmy Coin Price Analysis: Bearish Forecast
The trend of the Jasmy Coin token in recent months has been characterized by a bearish trend highlighted in the daily chart. An incisive downward trend line, colored in orange, unites the maximum peaks recorded starting in May of
this year.
Of note is the formation of a descending triangle pattern, which, in the evaluation of price action, represents one of the most commonly recognized bearish signals. In addition to that, Jasmy’s price also lower than the 50-day and 25-day moving averages
.
Consequently, the price of Jasmy Coin is expected to experience a bearish breakout, with sellers targeting key support of $0.0030. Should this support be exceeded, a further sell-off is likely to occur, with sellers targeting the next key support at $0.0025
.
We are therefore waiting to see how the events will develop, with a projection that suggests a rise in the bearish tone. However, as always, forecasts should be treated with caution, as the cryptocurrency market is notoriously unpredictable
.
