NEM has lost almost four percent in the past 24 hours. The currency pair remains neutral in general as the local lows still hold the price. XEM/USD is above the descending trend line, but buyers are unable to change the situation in their favor.
Looking closer at the Hourly chart we can see that the price has followed the red scenario on Thursday and Friday. After testing the resistance at $0.1539, NEM retreated and reached the support at $0.1459. The possible scenarios for XEM/USD are the following:
1. Red scenario (bearish). The currency pair will break through the support area at $0.1459 targeting new lows.
2. Orange scenario (neutral). NEM is going to stay within the current range between the support at $0.1459 and the resistance at $0.1539.
3. Green scenario (bullish). The currency pair will break through the resistance at $0.1539 targeting the next resistance at $0.1682.
Check the full crypto analysis HERE>>>.
Looking closer at the Hourly chart we can see that the price has followed the red scenario on Thursday and Friday. After testing the resistance at $0.1539, NEM retreated and reached the support at $0.1459. The possible scenarios for XEM/USD are the following:
1. Red scenario (bearish). The currency pair will break through the support area at $0.1459 targeting new lows.
2. Orange scenario (neutral). NEM is going to stay within the current range between the support at $0.1459 and the resistance at $0.1539.
3. Green scenario (bullish). The currency pair will break through the resistance at $0.1539 targeting the next resistance at $0.1682.
Check the full crypto analysis HERE>>>.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.