Jasmy Coin Price Prediction: Why Another Big Drop is in the Offing

Jasmy coin price started today’s trading session with a strong push to the downside, which at some point was 4 per cent below the opening price. However, as the day progressed, the prices started to recover. At press time, the Jasmy Coin price was already up by more than a percentage point. The trend was also looking aggressive and bullish and showing signs of going further higher. 

Today’s intraday price surge is also a change from what has been happening in the markets for the past few trading sessions. Since August 13, the prices have been in a long-term bearish trend. However, on August 20th, the 7 streaks of the aggressive bullish move was stopped when Jasmy coin price closed with a market gain. 

Since then, the prices have traded in a sideways market, where prices have failed to establish a strong trend. In most trading sessions of the past four days, the trend has reversed the previous day’s gains or losses. 

Jasmy Coin Price Prediction

With Jasmy Coin failing to establish a trend in the past few trading session and instead trading sideways, it is likely that the current sideways market will continue for the next few trading sessions. 

However, my Jasmy Coin Price prediction is still to the downside. Once the current sideways market ends, I expect prices to resume with the push to the downside. My price expectation is for the prices to hit the $0.0084 support level. There is also a high likelihood we might see prices trading below that price level. 

My bearish analysis is also based on the current strong push by the cryptocurrency industry. Jasmy Coin, being highly positively correlated with the general trend of the industry, mostly moves with the general trend of the industry, and currently, the industry is on a downfall.

However, should the Jasmy Coin price trade above the $0.01 price level, my analysis will be invalidated. It will mean a possible move to the upside.

Jasmy Daily Chart