The Jasmy Coin price has pulled back slightly as investors wait for the next catalyst for the coin. It is trading at $0.02295, which is significantly lower than the March high of $0.05. JASMY’s market cap has dropped to about $109 million, making it a relatively small digital coin. So, in this Jasmy prediction, we will explain whether it is a good investment.
Jasmy Coin has made some headlines in the past few weeks. Last week, Binance announced that it had decided to add JASMY as collateral assets on its loans platform. This is a product that provides options for supported cryptocurrency assets, interest rates, and other collateral assets. At the time, analysts believed that the product would lead to more trading volume.
Last week, Jasmy held a briefing session in Japan where it provided more details about its plans to democratize data. In a statement, the network’s CEO, who used to be the CEO at Sony, said that the platform’s goal was to ensure that user data was stored well in the digital space. The platform will use Smart Guardian and Secure Knowledge Communicator (SKC) to handle this data. He said:
“We are solving this problem by spreading Web3 technologies such as blockchain and unique distributed solutions using IoT, and we want to lead the Web3 era by building a platform that satisfies individuals, companies, and communities.”
The Jasmy Coin price has also pulled back after the important partnerships by some of the leading Japanese firms. It recently partnered wit Nippon Travel Agency, Transcosmos, and Appix.
Jasmy Coin price prediction
The four-hour chart shows that the Jasmy Coin price has struggled in the past few days even after the recent developments in the network. The coin has moved below the 61.8% Fibonacci retracement level. It has also formed what looks like a double-top pattern and is still hovering along the 25-day and 50-day moving averages.
For now, there are no bullish signs emerging, meaning that the coin will likely continue dropping as bears target the 78.6% Fibonacci retracement level at $0.0190. A move above the resistance at $0.026 will invalidate the bullish view.