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NEM Price Analysis: XEM Coin Price Looking To Cross The Threshold Of $0.25

  • XEM coin price is currently observing a bullish momentum on the daily chart. It can soon cross beyond $0.25
  • Technical indicators for NEM suggest a strong uptrend in price for upcoming days. In contrast, NEM/BTC pair is seeing a loss of more than 1% on the daily time frame.

XEM coin price is currently observing a bullish momentum on the daily chart and can soon reach beyond $0.25. NEM price is currently trading near the value of $0.16 with a gain of more than15% in the intraday session. It was launched in 2015 by three programmers and works on the proof of importance as opposed to POW and POS.

NEM price has seen a gain of 87% since its inception.It is less as compared to their competitors in the market. One can invest in NEM as per the price action and risk taking capacity.

XEM is currently ranked 61th in the CMC and has a market dominance of more than 0.09%. Volume of the coin along with the market cap has observed a gain of more than 20% in the past 24 hours.The ratio of volume and market capitalization is near 0.1337, suggesting a bullish momentum in price.

Technical Indicators Suggests An Consolidated Move For The NEM Price Action

Source: Trading view

NEM coin price has seen a gain of more than 7% in the weekly time frame. XEM coin will face resistance while going upside near the value of $0.25.In contrast, the bounceback in the price can be seen  from $0.10. NEM weekly chart highlights a consolidated momentum for price. On the daily chart the price is observing an upside momentum. NEM price is trading below 50 and above 100 Moving Average. The 50MA line  is near  $0.2098, making it temporary resistance for the coin. On coming to the shorter time frame, the price has formed an upside parallel channel. If the price breaks 5 to 10% above the area, then a strong bullish rally can be seen. NEM/BTC pair can also observe a strong uptrend in the future.

Conclusion

XEM coin price is currently observing a weak bullish momentum and can soon reach the new high. NEM has good fundamentals but the price has failed to reach the gains. Investor should do their due diligence before investing.

Technical Levels

Major Resistance:$0.25

Major Support: $0.1

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