NEM (XEM/USD) Is Technically Good Compared To Other AltcoinsCurrently, NEM' trading on the channel. It has been respecting those channel trendlines and it has made pretty good profit opportunities.
After BTC' breakout from the triangle downwards, XEM' has also come down pretty quickly but it is still on the channel and it has still an opportunity to make the higher low. At the moment, the price is a very strong support area, support criteria:
1. The round number $0.1, which works as a support
2. EMA 200 is exactly on the $0.1 and it works also as a support
3. The Fibonacci golden ratio 62% matching with the criteria mentioned above
4. Plus if we drop just a little bit lower then there is the 50 & 100 EMA's and the channel bottom trendline.
So, currently, we think that if we see a break and close below the round number then it's a first sign that we might go downwards and the full bearish confirmation would be then when we see a candle close below the trendline.
If BTC' finds the support from the current level at $6,460 then NEM' has technically a very good platform to go higher levels and if it happens it makes a new higher low but yes, as we've said, all depends on what Bitcoin' does.
Hopefully, those levels and this analysis helped You out a little bit to confirm your own analysis!
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Xemusd
NEM Price on the Rise Due to Name Service PartnershipNEM (XEM) price has been on quite a rally the past day, gaining almost 10% in the past 24 hours. This is mostly due to the partnership with Portal Network regarding a name service that will be introduced to NEM.
Using Fib retracements we can see some key inflection points for XEM. When the price will touch these levels, more likely than not there will be some movement.
Those key points are:
Supports at: $0.101, $0.095, and $0.089
Resistance at: $0.107, $0.115, and $0.125
Falling Wedge intact. Slow descend towards 0.060.XEMUSD has made another Lower High on the 1W Falling Wedge (RSI = 36.374, MACD = -0.081, Highs/Lows = -0.0262, B/BP = -0.0796) staying bearish on the long term but neutral on the short term (1D RSI = 45.270, Williams = -53.449, CCI = -0.6358, Highs/Lows = 0.0000). This should create a consolidation phase within a 0.07855 - 0.1040 Rectangle until 0.7800 breaks. Our TP is intact at 0.060.
XEMUSD: looks perfectNEM. Newcomers don't know much about it, but actually it the one of the most developed projects out there. The fact that the price is so low now doesn't mean anything, crypto is so much speculative. The thing is at the moment NEM is traded around its global support level. Of course, it could fall to an even deeper level. But! It has a very long sideways trading around the bottom, which makes me extremely bullish long-term and even middle-term.
Not a financial advice.
XEMBTC Daily Chart with Fibonacci RetracementsDaily Chart Via Binance on XEMBTC
Looks like a good time to load up on NEM for 2019. Watching for a move to $1 from .10 cents
coinmarketcap.com
$0.101208 USD (4.07%)
0.00001515 BTC (4.66%)
Market Cap
$910,870,627 USD
136,310 BTC
Volume (24h)
$11,779,534 USD
1,763 BTC
Circulating Supply
8,999,999,999 XEM
XEMBTC is strong buy at this low rate, 750% PotentialNEM (XEM)
Rank on Coinmarketcap - 18
Market Cap - $901,749,602 USD = 133,579 BTC
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RSI @ 33
ATH 13750
Current 1534
Buy at CMP or place order around 1400
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TP1=2369
TP2=3077
TP3=4606
TP4=7588
TP5=ATH
Stop loss- If daily candle close below 1300
------------------------------------------------------------
Trade at own risk
Channel Down intact. Steady decline to wards the target. Short.XEMUSD is on a very stable decline on the 4H Channel Down with 1D (RSI = 38.196) calling for a new Lower Low at 0.0716. 1W is still applying significant selling pressure (MACD = -0.080, Highs/Lows = -0.0359, B/BP = -0.1047) and we remain dedicated to our ultimate TP = 0.060.
Okay...I am on that boat again. 6 cents was not touched, but i buy what i have planned for this level @9cents (so smaller quantity of XEMs). In case of badboys return i will not have probably possibilty to close that trade without loss so it will go in this case to longterm hodl purse. In case of renewed bearish moves i will take another one portion probably @ 1-2 cents.
What is my target? Should be 20cents, but this contratrend entry has so much risk that i should wait for pump minimum to 40cents or higher.
I dont advice You of couse to emulate my move now. XEM is very risky crypto - for my taste only for the old guard that had theirs stakes and have sold much of it with huge profit. For newcommers XEM is not convenient instrument at all, especially, if they will look at the weekly chart.
Funny thing is that Bitcoin dont have the specified direction now. 6000 is near, 7300 is so far - no signs to get in. Maybe with SL under 6000? Okay it's only my loud thinking. Other cryptos from my observe list are building not convincing formations to get in, so i must stay by XEM - only this chart is readable for me (but counting of waves can be false of course as always).
But my longterm view of cryptomarket is still unchanged. Any spike up (few days or few weeks lenght) will be temporary... unless banksters system crash - that could be other type of story. For now there is no crash on stocks or no second "Lehmann Brothers" event.
Channel Down continuation within the 1W Falling Wedge. Bearish.As expected the consolidation around 0.1000 broke downwards and a new very aggressive 4H Channel Down (oversold RSI = 21.923, STOCHRSI = 0, Williams = -98.798, Ultimate Oscillator = 21.489) has emerged. This is still trading within the wider 1W Falling Wedge pattern (MACD = -0.080, Highs/Lows = -0.0498, B/BP = -0.1070). Our ultimate TP is still 0.060 but if 0.055 breaks, then the Falling Wedge is crossed to the downside and a very aggressive bearish sequence will commence for XEMUSD. Updates will follow to cover this scenario.
Lower High made. Resistance intact. Short.XEMUSD made the expected Lower High on the 1W Falling Wedge (RSI = 36.593, MACD = -0.079, Highs/Lows = -0.0414, B/BP = -0.0862), though a little higher than our projected 0.12059545 figure. However it provided an even more comfortable short entry for our ultimate TP = 0.060. The goal for 1D is to sustain the current bearish momentum (STOCHRSI = 28.472, Williams = -78.631) and stay below 0.1149.
Situation and my stance update (BTC, XEM and whole cryptosphere)I have sold all XEMs taken @ 10 cents (very limited loss from my side in this case only few percent). Situation of wide cryptomarket is strange form me. All is cheap, but it looks like could be cheaper. So i choose one more time to stay aside, and even if i buy some crypto, that will be probably very shortterm entry to catch some shortlasting bump. 6000$ BTCUSD is crucial for now. You know probably what dump it will cause in case of whole cryptomarket. With Succesful attack @7300 (daily basis) i may change my stance - to little more optimistic. From my point of view however this autumn should give here only limited oportunities to profitable entries (and shortlasting in nature). I am afraid that bubble like in 2017 will be possible in 2021 (Combined with last euphoria in case of world stock markets - they will end with spectacular crash of all assets, together with fiat money/dollar and even overpumped cryptocoins in this last bubble). But that point of view is not taken from technical analysis or researched by me ermanometry, so do not use it of course in Your investing activities.
In case of XEMUSD my pending orders are now situated @ 6, 4, 3, 2 and 1.5 cents (with growing structure of percentage given for one level in fiat money throwed in)
For Bitcoin i have no pending orders now.
This is not trading advice!
Ermanometric and EWT situation update.I cannot paste images in my last idea, so new idea with situation update. That 5th wave if will occur should not last long, minimum for this is around 7 cents (38.2 length of wave 3rd) maximum rests for trading robots or panic sellers. I will put some pending buy orders @HitBtc and @Zaif but in hope for get fast free of cost XEMs. Before trend change here should be that panic shortlived dump and daily close with intresting candle and long shadow.
[XEM/BTC] NEM COULD BREAK HIGH SOON [ X2-X4 POTENTIAL PROFIT]#XEM / BTC ( Binance, Bittrex, Poloniex )
Buy Range : 0.00001500
Stop Loss : Not recommend
Target 1 : 3243
Target 2 : 5500
Target 3 : 7000
WEEKLY CHART
- SAR still negative but any pump/good performance on 4h/daily chart can swap this into positive ( Neutral )
- RSI touched oversold zone and that's a good point to buy for hold ( Positive )
4H CHART
- RSI pointing up ( Positive )
- MACD going up stongly ( Positive )
- OBV pointing up ( Positive )
- CCI turned into Green ( positive )
- CMF going up ( positive )
- Ichimoku Cloud broken and next hours will be important to see if can stay above ( neutral )
CONCLUSION
NEM/XEM is a classic coin which got a very high potential to explode on a bull market. This coin is on its classical support zone and is showing very good performance on short-timeframes like other altcoins.
On long-timeframes there aren't much useful activity but prices give us a very good risk/reward for mid-long term trade.
Be patient and manage correctly your funds
There is a possibility for the beginning of an uptrend in XEMUSDTechnical analysis:
. NEM/DOLLAR is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 43.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.1053 to 0.0634). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.1053)
Ending of entry zone (0.0634)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.1431
TP2= @ 0.1681
TP3= @ 0.1982
TP4= @ 0.2765
TP5= @ 0.3686
TP6= @ 0.4390
TP7= @ 0.4958
TP8= @ 0.6540
TP9= @ 0.7450
TP10= 0.9466
TP11= 1.1487
TP12= 1.4356
TP13= 1.8013
TP14= Free
There is a possibility for the beginning of an uptrend in XEMUSDTechnical analysis:
. NEM/DOLLAR is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 43.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.1053 to 0.0634). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.1053)
Ending of entry zone (0.0634)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.1431
TP2= @ 0.1681
TP3= @ 0.1982
TP4= @ 0.2765
TP5= @ 0.3686
TP6= @ 0.4390
TP7= @ 0.4958
TP8= @ 0.6540
TP9= @ 0.7450
TP10= 0.9466
TP11= 1.1487
TP12= 1.4356
TP13= 1.8013
TP14= Free
IH&S formation is near to attack of the neckline.I had some hopes in my previous idea for panic dump, to get more cheap XEMs than 10cents, but this price formation can be here shortterm or midterm game changer. Of course i dont hope here now for whole trend change, only jumps to test 14 or even 20cents are possible (without big announcements, only in case of more bullish power on whole market). After that jump i still expect fading of price to retest 10cents and slow, horizontal accumulation phase by big players. But if this formation will fail, the bearish scenario from my last idea will be in play.
Ermanometric bottom here...looks good. It is first time since i analyse XEMUSD, when ermanometric reversal day have worked so accurate. Ermanometry of course is not always so accurate (like resistances and supports levels - see also the previous potential reversal day market as 106 vertical line on my chart, now work like ermanometric pivot and was like resistance @around 12cents), but is worth to look at it for sure. Will be here another wave down or it was a final bottom? Honestly, that can only confirm market behaviour not my wishes. XEM 1.17% is worth to observe - if another wave down will occur it will be much cheaper to collect for longterm hold. 10-12 cents of course looks also cheap, but is around 1bln$ capitalization. We have not uptrend in crypto, there is sometimes FUD produced by Morgans or Goldmans or other branches of banksters, so with that in mind 10-12cents is not yet so attractive. And i expect new bottom @BTCUSD this year, so the upspike @XEMUSD if will occur, should be shortlived - depends on market makers of course (pumpers&dumpers teams).