XEM vs BTCBITTREX:XEMBTC
XEM has been falling non stop for weeks. now it seem like the candles are showing some reversal. Spinning Top Candle at the bottom gave away the bears weakening now with a green candle forming we can think about a higher price.
This is a very risky call . Price could still fall to the 25s price range if bulls fail to take control.
Intense battle.
entry
0.00030s
possible entry 0.00025s
sell
0.000036s
0.000042s
This is not with the intend to give a financial advice but an educated opinion.
XEM
What's next? Lesson from the past.I think this downtrend tend to be much longer. But how long will last?
Let's see the last deep correction (much deeper than 60%) of XEMs bubble in the past, and RSI indicator behaviour (in second half of 2016).
What we need on XEMUSD chart now is much more divergence on RSI. For now there is no divergence so it should be created by market players. It should be accumulation phase before new bubble scheme.
XEM/BTC possible breakout!New Economy Movement aka NEM showing signs of life! If we can close above the triangle on a daily candle, we'll probably see an explosive breakout. When breakout occurs, I will update with targets. Huge potential in the long run, still very undervalued IMO!!
Any comments are welcome
Does XEM pull back or not?1-Week Chart:
The weekly XEM chart shows more closely the 50-week moving average are the primary resistance levels and 100EMA is strong support for this bear market.
Earlier in the Febuary the XEM fell through support at the 5k level down to the 3.6k area. I think the XEM price can reverse course and push through the 5k level and then create the small descending trend line. There is resistance at the 5k and the 5.5k areas that need to be overcome.
From the chart, it looks like the price will continue to fall to test 3k, possibly the 2.5k levels and the 100-week moving average as support. It will be a number of weeks before we see a test of the 20/50-week moving average. To accomplish this, volume needs to be above average.
RSI is below 50 level. If it can rise above that level and stay there, then it will be a sign the uptrend. The MACD turned down through the nine-week moving average, a sell sign and it is still trending down, which is a negative sign.
3-Day Chart:
I expect we might be seeing the formation of a minor support level at the 3.6k area. Volume remains at low. The indicators are alomost at low points where they are more likely to move up giving a buy signal.
Right now the RSI is below 50, a sell sign. The MACD crossed through centerline and it turned down through its 9-day moving average giving a sell sign.
While volume is below average, the market need a spike to start uptrend.
1-Day Chart:
The daily price chart is a bit complicated as the RSI says the market is oversold. There is resistance at the 5.5k level and then the 20/50/100-day EMA line. Right now, volume has been trailing off, which is not a good sign for the market. Watch for above average buying volume as a sign the XEM will change the trend. Otherwise, we should expect a pull back.
RSI is below 30 indicating that the coin is on the oversold territory at least 8 days. The MACD is at a low point where it normally turns up. This means we are more likely to see a spike in the near future. These are the signs that the market is oversold, yet it can continue to fall for a while.
The XEM price is starting to set up a basing pattern, which is necessary before it can start a new bull market. Horizontal support at the lows and horizontal resistance at the highs form a basing pattern. This is a positive longer term and creates buying opportunities on price dips.
4-Hour Chart:
The 4-Hour chart shows the pause at the 3.6k level that began in late February. The break through the 3.5k level will indicate the downward continue. The next support is at the 3.3k level, which can being tested. Average volume has been declining,this is a normal situation before the price can start rise up.
RSI is below 50 indicating the downtrend. The MACD is turning up to the zero level, that can give us a buy sign.
The indicators are telling us the downtrend remains in tact,though they are nearing low levels where they normally signal a uptrend. It will be important to monitor the average volume, MACD and RSI, to gain an understanding of how the trend proceeds from here.
Conclusion:
I want to discuss the recent news about "Coincheck NEM Hack". At first, every exchanges have closed the XEM wallet, this is mean that hackers cant sell their NEM directly at exchange to destroy the price. Secondly, if the wallet closed with mean the other XEM holders cant deposit their digital asset to exchange until the situation with the stolen XEM is not solved. So we have a limited supply of XEM at exchanges which can be used to manipulate the price on the future news.
The hack is allways bad for digital assets because this is a cause of stress for investors and holders. I hope the XEM dev team will find a way to talk with hackers to back stolen funds.
For me strong signs are 100EMA support at 1W TF and Oversold at 1-Day chart.
XEM 200% Potential - Hey Guys XEM has just touched down on the 786 fib line is a potential turning point, plenty of news coming this week, which could help turn this trend around, also RSI and Stoch both indicating Oversold with plenty of room on MACD to move. Confirmation of a trend Change can be confirmed once a break and close above the down channel has formed on the daily.
Link to upcoming news for XEM: coinmarketcal.com
4 Targets:
1* .00006011
2* .00007535-7687
3* .00008906-9020
4* .00011763
Don't Forget to like to follow any updates and, as always please keep a close eye on BTC.
Bigger drop of BTCUSD...... and slaughter is here imminent! But this is of course opportunity for "strong hands" to retake from "weak hands". 20 and 10 cents are key level for such drops in price here.
arithmetic chart has support around 25cents (but only in case of price line or closed daily candles, intraday price can be much lower, i think even flash drops to 10cents are possible here)
XEM/USD Buy OpportunityHere we are analyzing XEM/USD on the 1D chart.
NEM is currently trading around $ 0.54. The one-year forecast of the cryptocurrency is around US$ 0.86.
I suspect that XEM/USD will likely retest this side-wards support level before an up move. If price breaks below this level, there could be a retest of the lower horizontal support at $0.32 in the longer term before the upside. I hope we do not see the second scenario.
This means, from the present prices it is still offering a decent upside of 60% in this very calendar year. In the pending 10 months, the return of 60% is good enough. When you look at the five-year forecast of the cryptocurrency, it is around $ 1.65. Thus over a period of 5 years as well, it provides plenty of upside.
While on the whole, these predictions might look a little bleak but when you take into account the strong application of the platform which it is developing, it would provide you with good returns and stability in your portfolio. Also, it is a good diversification option considering the fact that the platform is finding increasing takers.
The last 24-hour trading volume is currently about $93,416,200 with a circulating supply of 8,999,999,999 XEM out of a max of 8,999,999,999 XEM .
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Longterm NEM/XEM viewNEM/XEM is a good coin for longterm holding. Should be accumulated at area around 50cents (25%-33% of planned money to invest), 20-30cents area (25-33%) and at around 10cents (50-33% of planned money to throw in). Problems with recent coinchecks hack, and generated from other exchanges (having like bittrex problems with going online with deposits, they are so lazy to change their wallet to multisignature and introduce mechanism to not receive stolen XEMs) giving a good chances to get XEMs so cheap as possible. First goals after accumulation phase (i think this phase should be to april-june 2018) is target around 4$ or little higher. In wider longterm period (1st Q of 2019) the goal for XEMs quoting in USD is around 60$ (no it's not typing mistake 60 american dollars!). See You in the future, dont forget to buy this tickets, before another one ride to the stars;)
Downtrend is clear here...but afterall, we must accumulate cheap to sell it with profit. As i prefer longterm play than intrday, accumulation levels for now are 0.34$, 0.2$ and 0.1$. Of course capital management is recommended. I have described that in my previous idea for XEM.
The redline on my chart is made on 1D timeframe on closed candles! The formation lines (purple or violet) on 1h chart instead. Attack on the redline has failed so 0.34$ is much more possible, with hacker selling activity 0.2$ is possible too and finally 0.1$ if we see some panic dumps.
XEM bullish flagsMACD is crossing and approaching 0, Stochastic RSI = oversold, reversal.
TP 8000 sat
There is some FUD in the market due to hacker trying to sell at the exchanges(now tried to sell on reddit, be aware). However, I've been watching a 50 BTC buy wall( 22 BTC already filled) on Bittrex since afternoon for 6000 sat . For current volumes on Bittrex this accounts for 25% of the daily trade. This guy knows something? Bullish signal? Or is it related to recent hacker issue?
For me still this looks like a good entry with 1st bullish flag affirmed.
XEM/USD Cryptocurrency Markets Haven’t Stabilized YetHere we have XEM/USD on the 4H chart.
The past two to three days have been somewhat positive for most cryptocurrencies as ETC/USD, LSK/USD in existence. After a terrible weekend and start to the week, most markets have reclaimed a lot of lost value. We are still months, if not years, away from seeing new all-time highs across the board. NEM is one of the few altcoins to have lost value relative to both USD and BTC in the past 24 hours.
As we can see the current NEM price dropping below $0.55 again, things are not looking all that impressive. Even though the NEM price reached US$0.60 following the massive dip to US$0.40 a few days ago, things are now starting to head in the right direction.
I am expecting XEM to get back up to the higher levels soon but slowly.
Bare in mind, that
Now we are seeing a minor NEM price correction, there is a new buy opportunity for cryptocurrency holders looking to diversify. Bare in mind that NEM rise hit an all-time high of US$1.90 (03-01).
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XEM/USD - 2/8/2018NEMs price is holding up strong while many others continue to decline. At a recent peak in the price, XEM created a head and shoulders pattern which sparked a reversal and a bearish push until the EMA(200) and around the 2/1 Gann fan line. This push has now completed the head and shoulders breakout and the price is ready to rise once again. The price has used the EMA(200) on 5 occasions since July (including the current testing of this level), this brings me confidence when claiming that the price is expected to start its bullish push once again to continue its long-term trend. This level is also backed and supported by the 78.6% fib retracement level and the fact that the RSI was very recently oversold. There is currently no divergence but seeing as though the volume is expected to become bullish again when the RSI increases, the price will increase accordingly. Due to the head and shoulders patterns breakout completion, the neckline of this pattern becomes a strong resistance level which is the basis for the first price target in the bullish direction. The second is characterized by the top of the right shoulder and a level the head used as support when it was almost completed.
Important Resistance Levels: $1.29, 0.839
Important Support Levels: 0.357
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Written by:
Arham Bheda
Senior Research Analyst