Jasmy coin is up by 5 per cent in today’s trading session. Despite the price gain, the prices are still stuck in a long-term sideways market that has lasted for more than two months.
Why is Jasmy Coin Struggling?
Jasmy has continued to struggle in the markets, partly due to the bear market in the cryptocurrency industry that has seen virtually all projects become bearish. However, even with the recent recovery of the cryptocurrency market, the Jasmy price has remained stuck in a sideways trend.
Part of the reason may be due to the crypto project’s having had no noticeable developments for the past few weeks. Unlike other projects that have continued development and partnering with other platforms during the bear market period, the Jasmy project has not had a market-grabbing headline that can be translated into the markets.
Jasmy’s trading volume has also, on most days, remained constant. For instance, in the past 24 hours, the trading session has risen by 37 per cent. The result has been a Jasmy price increase of over 5 per cent. However, on most days, such a surge in trading volume is almost always unavailable. Therefore, the lack of such triggers that can see prices increase exponentially has also contributed to the current sideways market.
Jasmy Coin Price Prediction
Looking at the chart below, it is evident that the prices have failed to progress or establish a trend for more than two months. Despite today’s strong bull move, the prices are still looking to be in a sideways market.
Therefore, my Jasmy coin price prediction expects the sideways market to continue. There is a high likelihood that gains made today will be wiped out in the next few trading sessions. The sideways market makes it hard to speculate where the next level will be.
However, should the price move past the $0.013 resistance level, then a bullish trend will have been established. Prices dropping below $0.0084 will also mean the continuation of the long-term bearish trend.