- NEM token is heading towards the higher levels after a sharp move from the lower levels, and the token is trying to regain its short to medium-term moving averages of 20, 50, and 100-DMA lines.
- Despite a strong rally from the lower levels, the crypto asset is still trading below its vital DMA line of the 200-Day line, and the volume over the monthly chart is lower.
- The pair of XEM/BTC is trading at 0.00000335 BTC with a positive gain of +1.42%, and the ratio of XEM/ETH is CMP at 0.00005105 ETH with an intraday change of +2.05%.
NEM token is trying to regain its vital moving averages of 20, 50, 100, and 200-Day lines, with lower volume action. The crypto asset over the monthly chart is trading below its major DMA line of 200-day lines and gradually heading towards it. Meanwhile, despite a strong rally from lower levels, the overall trend is still not favoring the Bulls.
The sustainability below its all DMA lines of 100 and 200-day lines will encourage Bears to overpower Bulls. At the same time, RSI over the chart is gaining strength from the lower levels while heading towards the overbought zone. Support on the lower side is $0.1520 and $0.1335, whereas resistance on the higher side is $0.2051 and $0.2430.
NEM token is projecting a bullish momentum, trading with a bullish chart setup
NEM token at the weekly chart is projecting a bullish momentum while trading with a bullish chart setup. The crypto asset is heading towards the higher levels, with higher highs and lows patterns. Moreover, the digital asset’s technical parameters indicate a bullish scenario while reaching towards the overbought zone. Volume over the 4-hour time frame increases and jumps above the average line. Currently, no fresh longs are suggested, and caution at the higher side can be maintained. NEM is trading at $0.18340 with an intraday gain of +2.15%, and the volume to market cap ratio is 0.04775.
Relative Strength Index (OVERBOUGHT) – NEM token RSI is trading under the bullish momentum after a sharp rally from the lower levels. The coin reaches near the overbought zone, and caution for longs indicates CMP at 71.
Bollinger Bands (OVERBOUGHT) – The coin is placed under the upper band of the Bollinger Bands and comfortably trading above the baseline. In contrast, the band is also expanding and indicating volatility in the upcoming trading session.
Support levels: $0.1520 and $0.1335
Resistance levels: $0.2051 and $0.2430.