- NEM Price is trading with slight uptrend momentum over the daily chart.
- The crypto asset is trading below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of XEM/BTC is at 0.000001962 BTC with an intraday drop of 5.29%.
NEM Price has given some promising factors to the investors since the start of bear market. XEM coin price is trading below a downward sloping line over the daily chart. The token must gain upwards to follow up through the trendline to register its breakout and reach the primary resistance level of $0.07. However, the effect of the bear market can be observed over the token and bears may interrupt the uptrend momentum of NEM in between.
NEM price is presently CMP at $0.05 and has lost 5.22% of its market capitalization in the last 24-hour period. Trading volume has decreased by 17.13% in the intraday trading session. This shows that XEM coin is facing short selling pressure as bears are interrupting the token’s movement. Volume to market cap ratio is 0.03944.
XEM coin price is trading below a downward sloping line over the daily chart. The token must break out of the downward sloping line and gather support from the bulls to register its breakout. Volume change can be seen gradually falling and must increase above the average line to register the token’s breakout from the trendline. Support at the lower end resides at $0.04 and resistance at the higher side is at $0.07.
What do Technical Indicators Suggest about NEM?
XEM price gained 55% in a single trading session of 13th May and the token continued to gain with slight bullish momentum since then. This signifies that bulls are trying to recover the token above the trendline. XEM token must gather support of bulls to register its breakout from the downward sloping line. Technical Indicators are about to signal something positive for XEM coin.
Relative Strength Index showcases that XEM coin is heading towards neutrality. MACD exhibits upward momentum of XEM token. The MACD line is heading towards the signal line for a positive crossover.
NEM Price has given some promising factors to the investors since the start of bear market. The token must gain upwards to follow up through the trendline to register its breakout and reach the primary resistance level of $0.07. Technical Indicators are about to signal something positive for XEM coin. The MACD line is heading towards the signal line for a positive crossover. NEM investors can expect a breakout of the XEM coin.
Support Levels: $0.04
Resistance Levels: $0.07
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.