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Jasmy Price Prediction: Why A Drop Below $0.0050 Is Likely

Two days ago, the Jasmy price hit its all-time price low of $0.006282 after months of aggressive bearish push. However, the drop to the bottom has not come as a surprise to many. Last month, Jasmy’s value fell by 23 per cent, extending a bearish trend that had seen it losing 16 per cent in July. 

Throughout the year, the bearish trend has also persisted, resulting in Jasmy prices falling by over 90 per cent. Although some factors, such as the current bearish market of the cryptocurrency market that has resulted in Jasmy price getting dragged down, have been out of its control, the Jasmy project has been underwhelming and, in most cases, underperforming other projects. 

Jasmy Price Analysis

At its core, the Jasmy project was backed by a solid idea of decentralizing the internet of things and reclaiming data sovereignty for its users. After its launch, there was a lot of hope for the project, which saw it quickly rise to become of the largest cryptocurrencies in the world. By Feb 16, 2021, the project had already peaked and was trading at its all-time price high of $4.99. 

However, Jasmy’s struggles started late last year and have continued throughout 2022. In fact, since hitting its price high of $4.99, Jasmy’s price has dropped by  99 per cent to the current price of $0.0066. 

Therefore, having looked at the long-term price history of the cryptocurrency, my Jasmy price prediction expects the prices to continue falling in the long term. There is a high likelihood that we might see its prices trading below the $0.0061 support level.

In the worst-case scenario, I expect the price to continue dropping until it hits the $0.0050 psychological level and possibly trade below. A trade above the 0.0080 price level will invalidate my analysis. It will point to a possible bullish push that might see prices rising above the $0.01 price level.

Jasmy Daily Chart