XEM has been doing fairly decent compared to BTC in the past month, but it looks like XEM is in due need to cool off. Its hitting a confluence zone of where its touching the 200 day Simple moving average and the top of the ichimoku cloud. Also, there looks to be a rising wedge. The RSI is showing bearish divergence. This means when the price is rising but the RSI is declining in strength signalling a probable decline in price will occur in the near future.
The weekly chart shows that XEM is losing steam as well. Shown here below: You can see the price is rising but the buying volume is slowly decreasing. This is forecasting a likely decline in price in the coming weeks.
A good area to buy is 1628 to 1662. Even if XEM pushes above the ichimoku cloud it is thin. Which means although bullish there isn't much support to hold the price up. XEM is a top fundamental coin. This coin is a must buy for a midterm/long term hold. XEM does instant and nearly free transfers. 2 things bitcoin is struggling to do.
The weekly chart shows that XEM is losing steam as well. Shown here below: You can see the price is rising but the buying volume is slowly decreasing. This is forecasting a likely decline in price in the coming weeks.
A good area to buy is 1628 to 1662. Even if XEM pushes above the ichimoku cloud it is thin. Which means although bullish there isn't much support to hold the price up. XEM is a top fundamental coin. This coin is a must buy for a midterm/long term hold. XEM does instant and nearly free transfers. 2 things bitcoin is struggling to do.
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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.