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HomeAnalysisNEM Price Analysis: XEM Witnessed Massive Buying, What about this Recovery?

NEM Price Analysis: XEM Witnessed Massive Buying, What about this Recovery?

  • NEM prices have faced minor changes after gaining a large number of buyers in the last 24 hours.
  • The XEM crypto drops at 20 EMA, below the daily moving averages of 50, 100, and 200 days.
  • The XEM / BTC pair is 0.000002272 BTC and the daytime gain is 13.27%.

NEM prices have risen about 11% in the last 24 hours. While tube tokens have recovered significantly in the last 24 hours, XEM Coin is currently upset to maintain the momentum of the uptrend and is currently facing a slight price adjustment. Tokens need to maintain the momentum of the current uptrend on the daily price chart. However, tokens are currently selling poorly and are again below the daily chart. XEM investors need to wait for tokens to show the momentum of an uptrend above the daily price chart.

NEM is currently priced at $ 0.043 in CMP and has earned 11% of its market capitalization in the last 24 hours. In the daytime trading session, trading volume increased significantly by 2419%. This indicates that XEM experienced a strong buy during the daytime trading session and is currently facing a revision of the daily chart. The ratio of volume to market capitalization is 0.5086.

XEM coin prices need to maintain the momentum of the uptrend over the daily chart. Tokens are currently trading across demand zones and are facing a correction that will fall again after a rapid recovery. After the buyer has an impact, the change in volume is above average and we can see that it is under the control of the bear. Accumulation is still needed for XEM to surge on daily price charts.

The bottom support is $ 0.035 and the top resistance is $ 0.068.

What do the technical indicators suggest about XEM?

On the daily price chart, the price of XEM coins is struggling to attract new buyers. To register the recovery phase, the token must attract the buyer. Technical indicators show that the XEM coin is on the downtrend and is moving in the direction of the downtrend line. The bearish momentum of the XEM coin is expressed in the Relative Strength Index. The RSI broke through the neutral nation at 48 and is now heading into the oversold territory. The momentum of the decline of XEM coins can be seen in MACD. The MACD line is above the signal line and is moving due to negative crossovers as it approaches the signal line.

Conclusion

NEM prices have risen about 11% in the last 24 hours. While tube tokens have recovered significantly in the last 24 hours, XEM Coin is currently upset to maintain the momentum of the uptrend and is currently facing a slight price adjustment. Tokens need to maintain the momentum of the current uptrend on the daily price chart. After the buyer has an impact, the change in volume is above average and we can see that it is under the control of the bear. Accumulation is still needed for XEM to surge on daily price charts. Technical indicators show that the XEM coin is on the downtrend and is moving in the direction of the downtrend line. The RSI broke through the neutral nation at 48 and is now heading into the oversold territory.

Technical level

Support level: $ 0.035

Resistance level: $ 0.068

Disclaimer

The views and opinions expressed by the author or the person described in this article are for informational purposes only and do not establish financial, investment, or other advice. Investing or trading crypto assets carries the risk of financial loss.

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