Jasmy Coin price has been moving sideways in recent days, even as other cryptocurrencies have seen a rebound. At the time of writing, the coin was trading at $0.0035, marginally higher than its monthly low of $0.0030.
Jasmy Coin is a small but well-known cryptocurrency, originating in Japan. It was developed by former Sony executives and is often referred to as Japan’s version of Bitcoin. In addition to its role as a cryptocurrency, Jasmy is also used in the data privacy industry and the Internet of Things (IoT). Its mission is to ensure that people can store and secure their data securely, as well as manage and control devices safely.
The upcoming Federal Reserve decision on interest rates will be a key event for Jasmy Coin and other cryptocurrencies. Most economists expect that the Fed will leave interest rates unchanged at 0.25%, with a hawkish tone in light of the country’s elevated inflation. According to the US Bureau of Labor Statistics, the headline consumer inflation rate rose to 3.7% in September.
The daily chart for Jasmy Coin shows a bearish trend forming over the past few months. The token has formed a descending trendline connecting its highest swings since May, and a descending triangle pattern, both of which point to a bearish breakout. The coin has also dropped below the 50-day and 25-day moving averages. A breakdown below the key support level of $0.0030 could see further downside for the coin.
To buy Jasmy Coin, you can use CEX.IO, which offers exchange of fiat currency for Bitcoin, Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD. Alternatively, you can use KuCoin, a global cryptocurrency exchange for numerous digital assets and cryptocurrencies, which has over 5 million registered users from 200+ countries and regions.