NEM breaking the downtrendI 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.
XEMBTC
SLOW, BUT BULLISH AND HEALTHY (TO KEEP ON EYE)Being one of the top 10 currencies in the market cap ranking, NEM /XEM: slow, gradual and progressive is showing a bullish trend, rising 70% in 6 days.From 2862 to 4795
Now after forming a double top pattern is very likely to perform a retracement, ideal to become super long in this crypto that did not show even a small part of its power.
A TAKE INTO ACCOUNT THAT IS ONE OF THE "SENSITIVES" TO BTC AND EVERY MOVEMENT HITS AND STRONG. That's why I draw the reference line (BTC / USD orange line)
But to go very long the story is different and not to worry about their falls.
XEM/NEM with a slight delay woke upStrongly beaten by the BTC rally, NEM suffered an unstoppable crash.
On my previous chart I saw a possible change in the trend, but the BTC continued to mark annual highs.
Today timidly this currency is having signs of recovery and especially of mobility.
Technically very slow, but movements at last.
We will see how it continues evolving
Thanks for your time and follow!
NEM/XEM and a new lowI honestly can not believe that the tenth coin with the largest market capitalization suffers this free fall forming a new minimum.
With a triangle I pointed out so they can see how NEM is affected by the BTC rally.
However I see a small light behind the bridge, something like a change of trend. Neither does he need strength and cross the kumos ahead of him.
Let's see if NEM goes back to being NEM.
To believers excellent call to put long!
Thanks for your time and happy trading!