XEM/USD Bearish FlagNEM has lost almost seven percent in the past 24 hours. The currency pair has broken its uptrend and seems to target June’s lows. Bears control the market currently and are able to develop their progress.
The currency pair went downwards on Tuesday and retreated from $0.1873 area. XEM/USD reached the next support at $0.1682. It fluctuates there in the moment of writing. We have a clear bearish Flag meaning sellers are ready to develop their progress.
As for the scenarios, the most probable for the nearest future is decline towards the next support area at $0.1539. The price is able to reach it on Wednesday-Thursday. Bullish scenario is less probable, but if buyers take control, they will be able to drive XEM/USD towards the resistance at $0.1873.
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