NEM breaking the downtrend
I think that getting down to the previous highs, before the big pump, XEM is a good buying opportunity. Even if I am not a fan of Proof of Stake coins, the NEM team has done some pretty nice developments which could potentially boost the project.
It has broken the RSI down trend and has had some nice upside divergence over the last few months.
Within the next 1-2 weeks, I am expecting the market to choose a direction. A strong bounce around 0.000003 would be nice for longs, but to fully validate the break of the downtrend, a break from 0.000005 would be required. Falling below 0.0000025 would invalidate this idea.
It has broken the RSI down trend and has had some nice upside divergence over the last few months.
Within the next 1-2 weeks, I am expecting the market to choose a direction. A strong bounce around 0.000003 would be nice for longs, but to fully validate the break of the downtrend, a break from 0.000005 would be required. Falling below 0.0000025 would invalidate this idea.
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.