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NEM

NEM (XEM) - Trend Reversal??So Bitcoin's massive run pretty much ruined my idea of a big cup & handle. But I'm pretty sure it ruined most charts for long term projection, so is life in crypto. In the short term, BTC may correct and I see NEM getting back in shape. This could be a very nice buy opportunity as NEM is very near it's previous floor and alts are now negatively correlated with BTC. The last major drop, alts were positively correlated. If you want to be a little riskier in the buy, wait for the drop down to resistance. I've already purchased though as I don't believe it will get there and it's not that great a savings. In this chart, I'm mostly paying attention to support and resistance from a previous trend line. The RSI indicator is diverging from price action, which often signals a reversal in trend. Let's see what happens. Regardless, I'm buying NEM on the cheap now.
Long
by dctobkk
NEM How to TradeThe price is going to bounce from the downtrend line. RSI is going to confirm a price reversal. We should expect for further downward movement to the uptrend line. If the market bounces from the uptrend line, we'll have a confirmation of possible upward movement. It will be a buy signal when the price breaks the donwtrend line. Also, we can place pending orders for buy above 0.000090 level. If the market breaks the downtrend line and shows strong upward movement without a retracement to the uptrend line, we'll be able to catch this movement. Stop orders for all long trades must be placed below the local swing lows. Profit targets should be at the resistance levels.
by DLavrov
5
NEM (XEM) - Update for next 1-2 weeksHere's an update for NEM on a more short term outlook from my previous chart. I had previously posted a chart which was projecting a massive cup & handle which could take another couple of months to resolve before the big break out. In this chart, I'm looking at the short term future of the next week or two which I believe is overall bullish. Slight pull pack today so far which has bounced up again. Here I've plotted some a couple of triangles which represent the long term trend as well as a sharp uptrend for the past week. EMA have crossed over bullish and had you bought on the crossover, you would have caught a nice upswing. MACD crossed over a week before. With the EMA crossover plus price action breaking above both EMAs, we had a triple confirm for buy at a really nice entry point. EMA are now acting as support and are riding along the trend line nicely. Some resistance zones to note which should stall the uptrend here and there. Regardless, I believe NEM is still a good buy for short or long term. More details on why I am holding long term are on my previous chart. Good luck!
Short
by dctobkk
2
NEM - XEM Long term outlook with multiple Cup & Handle formationSo I'm a holder of Nem and I fully believe this is one of the platforms of the future. Lots of interesting projects in the works and already a few with real world applications which are functioning. The more I get into crypto, the more I realize how many of these coins or tokens may never see light of day, or could be several years down the road. Lots of interesting and ambitious projects, but for my core holdings, I prefer currencies which are working now. NEM is one of those and with new projects coming, upgrades in the works (catapult), new marketing initiatives, etc etc, I can see this scenario playing out. Will take time, but this chart is possible by end of the year IMO. I'm projecting cup & handle as the first half is formed already, and NEM seems to currently have a tendency of forming this particular pattern. Short, medium and long term charts all show this pattern. So let's see...
Long
by dctobkk