JasmyCoin price has done well in the past few days as investors buy the coin’s dip. JASMY was trading at $0.0055 on November 1st, which was about 33% above the lowest level in October. This price was also ~20% below the highest point last week. So, is Jasmy a good buy in November?
What is Jasmy and is it a good buy?
Jasmy is a Japanese blockchain project that is in the data management and fan token industries. It partners with companies like Toyota to help them manage their data well. It is also used in industries like tourism and healthcare.
Jasmy was started by Kazumasa Sato, who was the head of Sony’s Style.com in Japan. His co-founders were Kunitake Ando and Takashi Hagiwara, who worked for Sony. The latter was the deputy head of Sony’s Vaio line of laptop project. In most cases, Jasmy is seen as Japan’s Bitcoin.
Jasmy’s goal is to work with companies and customers in a bid to promote data integrity. It has done that by merging blockchain and the Internet of Things (IoT) using Secure Knowledge Communicator (SKC). Its white paper said:
“… Therefore, it is important to have rules and regulations in place for the protection and use of data on these network devices and their security, as well as related personal data.”
SKC is a personal data locker that makes it possible for people to lock and manage their data in a safe environment. Other services in the ecosystem are Smart Guardian and a Secure Enterprise Service.
Additionally, Jasmy has moved to the fan token industry. It recently helped Sagan Tosu, a leading Japanese soccer team launch its own fan token. Such tokens are used by teams to raise capital and deepen their engagements with their fans.
JasmyCoin price prediction
The four-hour chart shows that the JASMY price has made a strong recovery in the past few days. This rebound happened after the coin found support at $0.0041. It has also moved slightly above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved slightly above the neutral point of 50.
Therefore, JasmyCoin will likely continue rising as it forms a double-top pattern. If this happens, the next key resistance level to watch will be at $0.007, which is about 30% above the current level. The rally will depend on the performance of other cryptocurrencies.