The descending triangle of the Jasmy coin price indicates further downward trend

The price of the Jasmy coin has moved sideways in the past few days, while other cryptocurrencies rose again. The coin was traded at $ 0.0035 on Tuesday, where it has been in the past few months. This price is a few points above the monthly low of $ 0.0030.

decision of the Federal Reserve is imminent

Jasmy Coin is a small but very popular cryptocurrency, which is primarily known for its Japanese roots. The coin was launched by former Sony managers and is considered a Japanese version of Bitcoin

but unlike BTC, Jasmy plays a deeper role in the blockchain industry. According to the developers, the platform is used in the data protection industry. It is also used in the Internet of Things industry (IoT).

Jasmy's goal is to ensure that people can safely store and protect their data. It also serves the safe management and control of devices. The most important thing is that Jasmy companies help protect their data.

The Jasmy coin tends to pursue the price of Bitcoin. Therefore, the most important event that needs to be observed this week will be the upcoming interest decision of the Federal Reserve. Most economists believe that the Fed will leave the interest rates unchanged at 0.25 %, as I wrote here .

The bank will also strike a restrictive tone, since inflation in the country is still at an increased level. Data published by the Bureau of Labor Statistics (BLS) showed that the overall inflation of consumers rose to 3.7 % in September. A more restrictive attitude of the FED will probably lead to further downward movements for Jasmy and other cryptocurrencies.

Jasmy Coin price forecast

The daily chart shows that the Jasmy token has been in a downward trend in the past few months. The coin has formed a descending trend line that is shown in orange. This line has connected the highest fluctuations since May this year.

The most important thing is that Jasmy has formed a descending triangle pattern. In the price action analysis, this pattern is one of the most popular bear signs. It also fell under the sliding 50-day and 25-day average.

Therefore the Jasmy Prize will probably experience a declining outbreak, since sellers are targeting the important support at $ 0.0030. A breakthrough under this support will probably lead to further sales, since sellers are targeting the important support at $ 0.0025.

How to buy jasmy