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NEM Price Analysis: XEM Gained 20% Amid Bitcoin Fall, What’s about this Resistivity?

  • NEM Price is trading with strong uptrend momentum over the daily chart amid the BTC falling below $30,000.
  • The crypto asset is trading below 20, 50, 100 and 200-days Daily Moving Average. 
  • The pair of XEM/BTC is at 0.000001983 BTC with an intraday gain of 25.29%.

The NEM price is rising even in hard times like the bear market. The token is showing some promising factors for the recovery and looks determined to get sustainability. Bitcoin on the other hand struggles to sustain above $30,000 psychological level. This bear market created some challenging environment for the cryptocurrency investors and even then XEM price is rising over the daily chart. NEM price just got up to $0.06 from $0.04 by gaining 55% in yesterday’s trading session. However, high volatility factors may affect the token’s rise and bears can interrupt this uptrend momentum.

NEM price is presently CMP at $0.058 and has gained 20.10% of its market capitalization in the last 24-hour period. Trading volume has increased by 42.11% in the intraday trading session. This shows that bulls are quite attracted towards the XEM coin. Volume to market cap ratio is 0.1212.

XEM crypto price is trading under control of bulls at the moment with strong uptrend momentum over the daily chart. The token is trying to sustain above the $0.04 mark over the chart. Volume change can be seen below average and needs to grow during the intraday trading session for XEM coin to maintain at the current level. XEM may experience short selling pressure during the intraday trading session as looking upon the candlestick pattern it signifies the same. 

What do Technical Indicators Suggest about XEM?

NEM coin price may shift the momentum now and looks like bears are trying to affect the momentum while bulls are losing their concentration. XEM coin price must gather buyers to stay in the upward momentum over the daily chart. Technical Indicators suggest neutrality for the XEM coin. Relative Strength Index showcases that XEM tried to move up from the oversold territory, however got interrupted in between. MACD exhibits sideways momentum of the XEM coin. The MACD line is below the signal line waiting for any type of crossover.

Conclusion

The NEM price is rising even in hard times like the bear market. The token is showing some promising factors for the recovery and looks determined to get sustainability. The token is trying to sustain above the $0.04 mark over the chart. XEM Coin investors can expect any directional change at any moment now. 

Technical Levels

Support Levels: $0.04 and $0.03

Resistance Levels: $0.06 and $0.07

Disclaimer 

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. 

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