NEM’s XEM Technical Analysis – Resistance Levels in Play – 11/03/19

Key Highlights

  • NEM’s XEM fell by 2.03% on Sunday. Partially reversing an 11.17% rally from Saturday, NEM’s XEM ended the day at $0.04624.
  • A start of a day intraday high $0.04720 saw NEM’s XEM fall well short of the first major resistance level at $0.05220 before hitting reverse.
  • A late morning intraday low $0.04401 saw NEM’s XEM hold well above the first major support level at $0.0419.
  • The extended bearish trend formed at late April’s swing hi $0.46547 remained intact. NEM’s XEM continued to fall well short of the 23.6% FIB Retracement Level of $0.1359 following 6th February’s new swing lo $0.03405.

How to Buy NEM’s XEM

NEM’s XEM Price Support

NEM’s XEM fell by 2.03% on Sunday. Partially reversing an 11.17% rally from Saturday, NEM’s XEM ended the day at $0.04624.

Bearish from the start of the day, NEM’s XEM fell from an intraday high $0.04720 to a late morning intraday low $0.044012.

The moves through the day saw NEM’s XEM come up short of the first major resistance level at $0.0522, whilst holding above the first major support level at $0.0419.

Finding support at $0.044 levels, NEM’s XEM recovered to $0.045 levels and a particularly range-bound 2nd half of the day.

For the week, NEM’s XEM gained 8.11%, with Saturday’s rally driving NEM’s XEM into the green.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact in spite of a 5th consecutive week in the green. NEM’s XEM continued to fall well short of the 23.6 FIB Retracement Level of $0.1359 following 6th February’s new swing lo $0.03405.

At the time of writing, NEM’s XEM was up by 0.19% to $0.04633. NEM’s XEM rose from a morning low $0.04597 to a high $0.04651 before easing back. The day’s major support and resistance levels were left untested early on in the day.

XEM/USD 11/03/19 Daily Chart

For the day ahead

A hold onto $0.046 levels through the morning would support another run at the first major resistance level at $0.0476. NEM’s XEM would need support from the broader market, however, for a breakout from $0.047 levels. Barring a crypto-rally, we would expect the first major resistance levels and Sunday’s high $0.0472 to leave NEM’s XEM short of $0.050 levels on the day.

Failure to hold onto $0.046 levels could see NEM’s XEM give up the early morning gains. A fall through the morning low $0.04597 would bring the first major support level at $0.0444 into play. Sentiment across the broader market would need to materially deteriorate for NEM’s XEM to visit sub-$0.044 levels.

We would expect the second major support level at $0.0426 to be left untested in the event of a reversal.

Looking at the Technical Indicators

Major Support Level: $0.0444

Major Resistance Level: $0.0476

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

NEM’s XEM Technical Analysis – Eyeing Resistance Levels Early – 21/02/19

Key Highlights

  • NEM’s XEM fell by 0.47% on Wednesday. Partially reversing a 3% gain from Tuesday, NEM’s XEM ended the day at $0.04432.
  • A start of a day intraday high $0.04546 came up short of the first major resistance level at $0.0460 before hitting reverse.
  • An early morning low $0.042919 saw NEM’s XEM come within range of the first major support level at $0.04270.
  • The extended bearish trend formed at late April’s swing hi $0.46547 remained intact. NEM’s XEM continued to fall well short of the 23.6% FIB Retracement Level of $0.1359 following 6th February’s new swing lo $0.03405.

How to Buy NEM’s XEM

NEM’s XEM Price Support

NEM’s XEM fell by 0.47% on Wednesday. Partially reversing a 3% gain from Tuesday, NEM’s XEM ended the day at $0.04432.

A particularly bearish start to the day saw NEM’s XEM slide from an intraday high $0.04546 to an early morning intraday low $0.42919 before finding support.

The start of the day slide saw NEM’s XEM come within range of the first major support level at $0.0427, whilst falling short of the first major resistance level at $0.0460.

Finding support from the broader market, NEM’s XEM recovered to a late in the day $0.04473 before falling back into the red by the day’s end. NEM’s XEM was amongst just a few of the top 20 cryptos to see red on the day.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact in spite of 2 consecutive weeks in the green. NEM’s XEM continued to fall well short of the 23.6 FIB Retracement Level of $0.1359 following 6th February’s new swing lo $0.03405.

At the time of writing, NEM’s XEM was up by 0.07% to $0.04435. Early moves saw NEM’s XEM fall from a start of a day morning high $0.0447 to an early morning low $0.04416 before finding support. The day’s major support and resistance levels were left untested early on.

XEM/USD 21/02/19 Daily Chart

For the day ahead

NEM’s XEM would need to hold above 0.04420 levels through the morning to support a move through to $0.045 levels to test the day’s first major resistance level at $0.0455 before any pullback. We would expect NEM’s XEM to pegged back from a breakout from $0.0455 levels on the day, with Wednesday’s high $0.04546 likely to limit the upside on the day.

Failure to hold above $0.04420 levels through the morning could see NEM’s XEM slide through to $0.0430 levels to bring the first major support level at $0.0430 into play before any recovery. In the event of an extended broad-based crypto sell-off through the day, NEM’s XEM could return to $0.042 levels before any recovery.

Looking at the Technical Indicators

Major Support Level: $0.0430

Major Resistance Level: $0.0455

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

NEM’s XEM Technical Analysis – Looking for a Rebound – 13/02/19

Key Highlights

  • NEM’s XEM fell by 0.80% on Tuesday. Following on from a 3.97% slide on Monday, NEM’s XEM ended the day at $0.03864.
  • A mid-morning intraday low $0.03801 saw NEM’s XEM call on support at the first major support level at $0.0382.
  • A late afternoon intraday high $0.03929 came up short of the first major resistance level at $0.0404 before hitting reverse.
  • The extended bearish trend formed at late April’s swing hi $0.46547 remained intact. NEM’s XEM continues to fall well short of the 23.6% FIB Retracement Level of $0.1359 following 6th February’s new swing lo $0.03405.

How to Buy NEM’s XEM

NEM’s XEM Price Support

NEM’s XEM fell by 0.80% on Tuesday. Following on from a 3.97% slide on Monday, NEM’s XEM ended the day at $0.03864.

A bearish start to the day saw NEM’s XEM fall from a start of a day $0.03895 to a mid-morning intraday low $0.03801. Calling on support at the first major support level at $0.0382, NEM’s XEM rallied through to a late afternoon intraday high $0.03929 before easing back to $0.038 levels.

The afternoon high saw NEM’s XEM come up short of the first major resistance level at $0.0404, with the late pullback dragging NEM’s XEM back into the red before the day’s end.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact in spite of last week’s 4.8% gain. NEM’s XEM continues to fall well short of the 23.6 FIB Retracement Level of $0.1359 following 6th February’s new swing lo $0.03405.

At the time of writing, NEM’s XEM was up by 1.88% to $0.03937. NEM’s XEM rose from a start of a day morning low $0.03858 to a morning high $0.03959 before easing back.

The early morning rally saw NEM’s XEM break through the first major resistance level at $0.0393, whilst steering clear of the first major support level at $0.0380.

XEM/USD 13/02/19 Daily Chart

For the day ahead

A hold onto $0.039 levels through the morning would support a run at the second major resistance level at $0.0399 to bring $0.040 levels into play before any pullback.

Following 3 consecutive days in the red, the broader market’s bullish start to the day would need to continue into the afternoon for NEM’s XEM attempt a run at the third major resistance level at $0.0412 later in the day.

Failure to hold onto $0.039 levels could see NEM’s XEM pullback through the morning low $0.03858 to bring the first major support level at $0.0380 into play before any recovery. Barring a broad-based crypto reversal later in the day, we would expect NEM’s XEM to steer clear of the second major support level at $0.0374.

Looking at the Technical Indicators

 

Major Support Level: $0.0380

Major Resistance Level: $0.0393

Fib 23.6% Retracement Level: $0.1359

Fib 38% Retracement Level: $0.1988

Fib 62% Retracement Level: $0.3007

NEM’s XEM Technical Analysis – Support Levels in Play – 05/02/19

Key Highlights

  • NEM’s XEM fell by 2.21% on Monday, following a 5.18% slide on Sunday, to end the day at $0.03805
  • A late morning intraday high $0.03914 came up short of the first major resistance level at $0.0408 before hitting reverse.
  • NEM’s XEM called on support at the first major support level at $0.0374 with an intraday low and new swing lo $0.03757.
  • The extended bearish trend formed at late April’s swing hi $0.46547 remained intact, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1509, following a Monday’s new swing lo $0.03757.

How to Buy NEM’s XEM

NEM’s XEM Price Support

NEM’s XEM fell by 2.21% on Monday, following on from a 26.7% slide last week. The decline left NEM’s XEM at $0.03805 by the day’s end.

A relatively choppy day saw NEM’s XEM strike a late morning intraday high $0.03914 before pulling back into the red. The day’s high saw NEM’s XEM fall short of $0.04 levels and the first major resistance level at $0.0408.

An afternoon high $0.03875 was as bullish as it got in the 2nd half of the day. NEM’s XEM fell to a late intraday low and new swing lo $0.03757. Finding support from the first major support level at $0.0374, NEM’s XEM moved back through to $0.038 levels by the day’s end.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact following last week’s 26.7% slide. Also, NEM’s XEM continued to fall well short of the 23.6 FIB Retracement Level of $0.1495 following Monday’s new swing lo $0.03757.

At the time of writing, NEM’s XEM was down by 2.99% to $0.03691. A particularly bearish start to the day saw NEM’s XEM slide from a morning high $0.03835 to a morning low and new swing lo $0.03659. NEM’s XEM fell through the first major support level at $0.0374 to call on support at the second major support level at $0.0367.

For the day ahead

A move back through the morning high would be needed for NEM’s XEM to take a run at the first major resistance level at $0.0389. We would expect NEM’s XEM to fall short of $0.040 levels for a 2nd consecutive day, however. Monday’s high $0.03914 and bearish sentiment across the broader market will ultimately pin NEM’s XEM back from a breakout on the day.

Failure to move through to $0.0383 levels could see NEM’s XEM fall deeper into the red. A fall through the morning low $0.03659 could see NEM’s XEM slide to $0.035 levels before any recovery. We would expect heavier losses to be avoided in the day. The third major support level at $0.0351 likely keep $0.034 levels out of play.

XEM/USD 05/02/19 Daily Chart

Looking at the Technical Indicators

 

Major Support Level: $0.0374

Major Resistance Level: $0.0389

Fib 23.6% Retracement Level: $0.1386

Fib 38% Retracement Level: $0.2010

Fib 62% Retracement Level: $0.3020

NEM’s XEM Technical Analysis – Price Support in Play – 28/01/19

Key Highlights

  • NEM’s XEM slid by 3.77% on Sunday, following on from a 1.12% fall on Saturday, to end the week down by 4.94% at $0.05291.
  • An early morning intraday high $0.05551 saw NEM’s XEM come up short of the first major resistance level at $0.0568 before hitting reverse.
  • NEM’s XEM fell through the first major support level at $0.054 and second major support level at $0.053 to an intraday low and new swing lo $0.05191 before finding support.
  • The extended bearish trend formed at late April’s swing hi $0.46547 remained intact, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1509, following a Sunday’s new swing lo $0.05191.

How to Buy NEM’s XEM

NEM’s XEM Price Support

NEM’s XEM slid by 3.77% on Sunday, following on from a 1.12% fall on Saturday, to end the week down 4.94% to $0.05291.

Tracking the broader market, NEM’s XEM recovered from an early morning dip to $0.054427 to strike an early morning intraday high $0.05551 before hitting reverse. The day’s high came up well short of the first major resistance level at $0.0568, with the start of the day dip testing sentiment early on.

Sliding through the morning and early afternoon, NEM’s XEM fell through the first major support level at $0.054 and second major support level at $0.053 to an intraday low and new swing lo $0.05191 before recovering to $0.053 levels and an afternoon high $0.05361.

Unable to break back through the first major support level, NEM’s XEM fell back through the second major support level to wrap up the day at sub-$0.053 levels for the first time since 29th April 2017.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact following a 4th  weekly loss in the last 5, with NEM’s XEM continuing to fall well short of the 23.6 FIB Retracement Level of $0.1495 following Sunday’s new swing lo $0.05191.

At the time of writing, NEM’s XEM was down by 2.37% to $0.05166. A particularly bearish start to the day saw NEM’s XEM slide from a morning high $0.053 to a morning low and new swing lo $0.05143 before steadying. The sell-off saw NEM’s XEM call on support at the day’s first major support level at $0.0514.

For the day ahead, a move back through the morning high $0.0530 to $0.0535 levels would support a run at the first major resistance level at $0.0550 before any pullback. Barring a material shift in sentiment across the broader market, we would expect Sunday’s high $0.05551 to pin NEM’s XEM from more material gains on the day.

Failure to move back through the morning high could see NEM’s XEM pullback deeper into the red. A fall back through the morning low $0.05143 could see NEM’s XEM slide through to sub-0.05 levels to call on support at the second major support level at $0.0498 before any recovery.

XEM/USD 28/01/19 Daily Chart

 

Looking at the Technical Indicators

Major Support Level: $0.0514

Major Resistance Level: $0.0550

Fib 23.6% Retracement Level: $0.1495

Fib 38% Retracement Level: $0.2099

Fib 62% Retracement Level: $0.3075

NEM’s XEM Technical Analysis – Support Levels Eyed – 18/01/19

Key Highlights

  • NEM’s XEM rose by 1.81% on Thursday, following on from a 1.47% gain on Wednesday, to end the day at $0.058183.
  • A late morning intraday high $0.05979 saw NEM’s XEM break through the first major resistance level at $0.0588 before easing back.
  • NEM’s XEM called on support at the first major support level at $0.0555, with an early afternoon intraday low $0.05546 before recovering.
  • The extended bearish trend formed at late April’s swing hi $0.46547 remained intact, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1509, following a 15th December new swing lo $0.05369.

How to Buy NEM’s XEM

NEM’s XEM Price Resistance

NEM’s XEM gained 1.81% on Thursday, following on from a 1.47% rise on Wednesday, to end the day at $0.058183.

A relatively choppy start to the day saw NEM’s XEM recover from a morning low $0.056156 to strike a late morning intraday high $0.05979 before hitting reverse. The late morning rally saw NEM’s XEM break through the first major resistance level at $0.0588.

Reversing in the early afternoon, NEM’s XEM fell through the day’s first major support level at $0.0555 to an intraday low $0.05546 before finding support. A move back through to $0.058 levels by the late afternoon was as bullish as it got in the 2nd half of the day, with NEM’s XEM wrapping up the day at $0.058 levels by the day’s end.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact following a 3rd  week of losses, with NEM’s XEM continuing to fall well short of the 23.6 FIB Retracement Level of $0.1509 after hitting a new swing lo $0.05369 on 15th December.

At the time of writing, NEM’s XEM was down 0.73% to $0.05776, with a bearish start to the day seeing NEM’s XEM fall from a start of a day morning high $0.05832 to a morning low $0.0569 before steadying.

NEM’s XEM managed to steer clear of the first major support level at $0.0558, whilst also falling short of $0.060 levels and the first major resistance level at $0.0602.

For the day ahead, a hold onto $0.057 levels through the morning would support a move through the morning high $0.05832 to bring the first major resistance level at $0.0602 into play before any pullback. Barring a broad based crypto rally, strong resistance will likely pin NEM’s XEM back from a breakout from $0.060 levels to leave the second major resistance level at $0.0621 out of range in the day.

Failure to hold onto $0.057 levels could see NEM’s XEM pullback deeper into the red, with a fall through the morning low $0.0569 bringing the first major support level at $0.0558 into play. Heavier losses could be on the cards should sentiment across the broader market fail to improve, with the second major support level at $0.0535 there to prevent a sell-off to sub-$0.050 levels.

XEM/USD 18/01/19 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0558

Major Resistance Level: $0.0602

Fib 23.6% Retracement Level: $0.1509

Fib 38% Retracement Level: $0.2110

Fib 62% Retracement Level: $0.3082

NEM’s XEM Technical Analysis – Resistance Levels Eyed – 10/01/19

Key Highlights

  • NEM’s XEM fell by 0.53% on Wednesday, following on from a 0.71% decline on Tuesday, to end the day at $0.06537.
  • Tracking the broader market, NEM’s XEM struck a late morning intraday high $0.06679, coming up against the first major resistance level at $0.0673 before hitting reverse.
  • An early afternoon intraday low $0.06396 saw NEM’s XEM fall through the first major support level at $0.0643 before recovering.
  • The extended bearish trend formed at late April’s swing hi $0.46547 remained intact, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1509, following a 15th December new swing lo $0.05369.

How to Buy NEM’s XEM

NEM’s XEM Price Resistance

NEM’s XEM fell by 0.53% on Wednesday, following on from a 0.71% decline on Tuesday, to end the day at $0.06537, the decline a 3rd in a row to leave NEM’s XEM facing the prospects of a 3rd consecutive week in the red.

A relatively bullish morning saw NEM’s XEM rise from a start of a day $0.06572 to a late morning intraday high $0.06679, coming up against the first major resistance level at $0.0673 before hitting reverse.

The reversal saw NEM’s XEM fall through the first major support level at $0.0643 to an early afternoon intraday low $0.06396 before moving back through to $0.065 levels to limit the losses for the day.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact following a 2nd  week of losses and a 3rd consecutive day in the red, with NEM’s XEM continuing to fall well short of the 23.6 FIB Retracement Level of $0.1509 after hitting a new swing lo $0.05369 on 15th December.

At the time of writing, NEM’s XEM was up 1.11% to $0.06610, with moves through the morning seeing NEM’s XEM rise from a start of a day morning low $0.06521 to a morning high $0.06621, coming within range of the first major resistance level at $0.0668 before easing back.

For the day ahead, a hold above $0.0655 levels through the morning would support another run at the first major resistance level at $0.0668, with support from the broader market needed to bring the second major resistance level at $0.0682 into play before any pullback, $0.070 levels unlikely to be in play through the day.

Failure to hold above $0.0655 could see NEM’s XEM pullback through the morning low $0.06521 to bring the first major support level at $0.064 into play before any recovery, NEM’s XEM unlikely to call on sub-$0.064 support levels barring a major crypto sell-off later in the day.

XEM/USD 10/01/19 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0640

Major Resistance Level: $0.0668

Fib 23.6% Retracement Level: $0.1509

Fib 38% Retracement Level: $0.2110

Fib 62% Retracement Level: $0.3082

NEM’s XEM Technical Analysis – Support Levels Eyed – 02/01/19

Key Highlights

  • NEM’s XEM gained 2.86% on Tuesday, partially reversing a 7.09% slide on Monday, to end the day at $0.06765.
  • An early morning intraday low $0.06425 saw NEM’s XEM hold above the first major support level at $0.0624.
  • Tracking the broader market, NEM’s XEM rallied to a late in the day intraday high $0.06937, falling short of the first major resistance level at $0.06960 before easing back.
  • The extended bearish trend formed at late April’s swing hi $0.46547 remained intact, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1509, following a 15th December new swing lo $0.05369.

How to Buy NEM’s XEM

NEM’s XEM Price Support

NEM’s XEM gained 2.86% on Tuesday, partially reversing a 7.09% slide on Monday, to end the day at $0.06765.

A relatively choppy day saw NEM’s XEM recover from an early morning intraday low $0.06425 to $0.066 levels through the middle of the day before sliding back to $0.064 levels.

Steering clear of the day’s first major support level at $0.0624, NEM’s XEM found support from the broader market to rally to a late in the day intraday high $0.06937, coming up shy of the first major resistance level at $0.0696 to ease back to $0.067 levels by the day’s end.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact following last week’s losses, with NEM’s XEM continuing to fall well short of the 23.6 FIB Retracement Level of $0.1509 after hitting a new swing lo $0.05369 in mid-December.

At the time of writing, NEM’s XEM was down 0.3% to $0.06745, with moves through the early part of the day seeing NEM’s XEM fall from a start of a day morning high $0.0683 to a morning low $0.06732 before steadying, the day’s major support and resistance levels left untested early on.

For the day ahead, a hold onto $0.0670 levels through the morning would support a recovery later in the day, with a move through the morning high $0.0683 bringing 0.069 levels into play before any pullback, Tuesday’s high $0.06937 and the day’s first major resistance level at $0.0699 likely to pin NEM’s XEM back from a move through to $0.07 levels later in the day.

Failure to hold onto $0.0670 levels through the morning could see NEM’s XEM take a bigger hit later in the day, a pullback through the morning low $0.06732 bringing the day’s first major support level at $0.0648 into play before any recovery. While sub-$0.060 support levels will unlikely come into play later in the day, an extended sell-off across the broader market could bring the second major support level at $0.0620 into play before any recovery.

XEM/USD 02/01/19 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0649

Major Resistance Level: $0.0699

Fib 23.6% Retracement Level: $0.1509

Fib 38% Retracement Level: $0.2110

Fib 62% Retracement Level: $0.3082

NEM’s XEM Technical Analysis – Support Levels Back in Play – 25/12/18

Key Highlights

  • NEM’s XEM gained 2.44% on Monday, reversing a 2.16% loss on Sunday, to end the day at $0.07718.
  • A start of a day intraday low $0.07528 saw NEM’s XEM hold above the first major support level at $0.0730.
  • Tracking the broader market, NEM’s XEM broke through the first major resistance level at $0.0781 and second major resistance level at $0.0809 to strike an intraday high $0.08528 before easing back.
  • The extended bearish trend formed at late April’s swing hi $0.46547 remained intact, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1509, following a 15th December new swing lo $0.05369.

How to Buy NEM’s XEM

NEM’s XEM Price Resistance

NEM’s XEM gained 2.44% on Monday, following on from last week’s 21.75% rally, to end the day at $0.07718.

A bullish start to the day saw NEM’s XEM rally to a late morning intraday high $0.08528 before easing back, NEM’s XEM breaking through the first major resistance level at $0.0781 and second major resistance level at $0.0809 on the day.

Tracking the broader market through the day, a late afternoon reversal across the broader market saw NEM’s XEM fall to an afternoon low $0.07538, coming within range of a start of a day intraday low $0.07528 and the day’s first major support level at $0.0730 before steadying.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact in spite of last week’s gains, with NEM’s XEM continuing to fall well short of the 23.6 FIB Retracement Level of $0.1509.

At the time of writing, NEM’s XEM was down 5.08% to $0.07326, a broad based crypto sell-off weighing at the start of the day. NEM’s XEM slid from a morning high $0.07782 to a morning low $0.07166 before steadying. The reversal saw NEM’s XEM slide through the first major support level at $0.0730, whilst leaving the day’s first major resistance level at $0.0832 untested.

For the day ahead, a move back through to $0.075 levels would support a run at $0.079 levels to bring $0.080 levels into play later in the day, though sentiment would need to materially improve through the morning to support an afternoon rebound, with a move away from the first major support level at $0.0730 a must through the early part of the day.

Failure to move back through to $0.075 levels by the early afternoon could see NEM’s XEM lose more ground later in the day, a pullback through the first major support level at $0.0730 likely to bring sub-$0.07 levels and the second major support level at $0.0692 into play before any recovery.

XEM/USD 25/12/18 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0732

Major Resistance Level: $0.0832

Fib 23.6% Retracement Level: $0.1509

Fib 38% Retracement Level: $0.2110

Fib 62% Retracement Level: $0.3082

NEM’s XEM Technical Analysis – Support Levels Eyed – 17/12/18

Key Highlights

  • NEM’s XEM gained 2.83% on Sunday, partially reversing a 4.30% slide on Saturday, to end the week down 18.4% to $0.06177.
  • A start of a day intraday low $0.05975 saw NEM’s XEM steer clear of the first major support level at $0.0546.
  • NEM’s XEM hit a late afternoon intraday high $0.06407, coming within range of the first major resistance level at $0.0646 before easing back to $0.061 levels.
  • The extended bearish trend formed at late April’s swing hi $0.46547 remained intact, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1509, following the week’s new swing lo $0.05369.

How to Buy NEM’s XEM

NEM’s XEM Price Resistance

NEM’s XEM gained 2.83% on Sunday, partially reversing a 4.3% slide on Saturday, to end the week down 18.4% to $0.06177.

A bullish start to the day saw NEM’s XEM move through to a mid-morning high $0.06385, coming up just shy of the first major resistance level at $0.0646 before easing back ahead of a late afternoon bounce to an intraday high $0.06407.

Coming within range of the first major resistance level at $0.0646, NEM’s XEM was unable to hold on, easing back late in the day to $0.061 levels late in the day. A start of a day intraday low $0.05975 also left the day’s major support levels untested.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact following 5 days in the red out of the last 7, with NEM’s XEM continuing to fall well short of the 23.6 FIB Retracement Level of $0.1509.

At the time of writing, NEM’s XEM was down 0.51% to $0.06146, a relatively range bound start to the day seeing NEM’s XEM steer clear of the major support and resistance levels with a morning high $0.06240 and low $0.06065.

For the day ahead, a move back through to $0.0620 levels would be needed to support a run back through Sunday’s high $0.06407 to test the day’s first major resistance level at $0.064, with any breakout to $0.065 levels dependent upon sentiment across the broader crypto-market later in the day.

Failure to move back through to $0.0620 levels could see NEM’s XEM extended its losses through the day, with a pullback through the morning low $0.06065 bringing the day’s first major support level at $0.0597 into play. Following last week’s sell-off and with the negative bias remaining intact, in spite of Sunday’s gain, a broad based crypto sell-off would bring the second major support level at $0.0575 into play before any recovery.

XEM/USD 17/12/18 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0597

Major Resistance Level: $0.0640

Fib 23.6% Retracement Level: $0.1509

Fib 38% Retracement Level: $0.2110

Fib 62% Retracement Level: $0.3082

NEM’s XEM Technical Analysis – More than Support Needed – 07/12/18

Key Highlights

  • NEM’s XEM fell by 8.79% on Thursday, following on from a 1.83% fall on Wednesday, to end the day at $0.06962
  • An early morning intraday high $0.07595 saw NEM’s XEM break through the first major resistance level at $0.07898 before hitting reverse.
  • NEM’s XEM fell through the first and second major support levels to a late intraday low $0.06827.
  • The extended bearish trend formed at late April’s swing hi $0.46547 remained intact, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1579.

How to Buy NEM’s XEM

NEM’s XEM Price Support

NEM’s XEM tumbled by 8.79% on Thursday, following a 1.83% fall on Wednesday, to end the day at $0.06962.

A relatively positive start to the day saw NEM’s XEM rise to an early morning intraday high $0.07959 before hitting reverse. The only bullish move of the day saw NEM’s XEM break through the first major resistance level at $0.0789 before the reversal.

Tracking the broader market trend, NEM’s XEM fell through the first major support level at $0.0738 and second major support level at $0.0712 to an early afternoon $0.07005 before steadying.

A move back through to $0.074 levels was short lived however, with a late in the day sell-off seeing NEM’s XEM slide back through the first and second major support levels to an intraday low $0.06827.

The only positive for the day was NEM’s XEM managing to hold above 25th November’s swing lo $0.06284.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact following 6 days in the red out of the last 8, with NEM’s XEM continuing to fall well short of the 23.6 FIB Retracement Level of $0.1579.

At the time of writing, NEM’s XEM was down 3.62% to $0.0667, with a morning seeing NEM’s XEM fall from a start of a day morning high $0.07022 to a morning low $0.06604 before steadying, the day’s major support and resistance levels left untested early on.

For the day ahead, a move back through to $0.07 levels would signal a possible market rebound, with NEM’s XEM needing to move through $0.0725 to bring the day’s first major resistance level at $0.0767 into play before any pullback. NEM’s XEM will need support from the broader market to reverse the day’s losses and a move through to $0.07 levels will need to come sooner rather than later in the day.

Failure to move back through to $0.07 levels will likely see NEM’s XEM fall back deeper into the red, a fall through the morning low $0.06604 and the first major support level at $0.0654 likely to bring the second major support level at $0.0612 into play before any recovery.

XEM/USD 07/12/18 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0654

Major Resistance Level: $0.0767

Fib 23.6% Retracement Level: $0.1579

Fib 38% Retracement Level: $0.2166

Fib 62% Retracement Level: $0.3116

NEM’s XEM Technical Analysis – Support Levels Eyed – 29/11/18

Key Highlights

  • NEM’s XEM gained 8.44% on Wednesday, following a 9.92% rally on Tuesday, to end the day at $0.0830.
  • A late in the day intraday high $0.08569 saw NEM’s XEM break through the day’s first major resistance level at $0.0811 and second major resistance level at $0.0857 before easing back.
  • A start of the day intraday low $0.07807 saw NEM’s XEM steer well clear of the day’s first major support level at $0.0697.
  • The extended bearish trend formed at late April’s swing hi $0.46546 remained intact, in spite of the day’s gain, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1579.

How to Buy NEM’s XEM

NEM’s XEM Price Resistance

NEM’s XEM rose by 8.44% on Wednesday, following on from a 9.92% rally on Tuesday, to end the day at $0.0830.

A bullish start to the day saw NEM’s XEM rally from an intraday low $0.07607 to a mid-morning high $0.08569 before easing back, the early move seeing NEM’s XEM break through the first major resistance level at $0.0811 to come up against the second major resistance level at $0.0857 before falling back to sub-$0.080 levels.

Tracking the broader market through the afternoon, NEM’s XEM broke back through the day’s first major resistance level at $0.0811 and second major resistance level at $0.0857 to a late in the day intraday high $0.08621 before easing back to $0.083 levels by the day’s end.

In spite of a second consecutive day of solid gains, NEM’s XEM continued to fall well short of the 23.6% FIB Retracement Level of $0.1579, reaffirming the extended bearish trend formed at late April’s swing hi $0.46547 and 25th November’s swing low $0.06284.

At the time of writing, NEM’s XEM was down 2.86% to $0.08062, with a bearish start to the day seeing NEM’s XEM fall from a start of a day morning high $0.08419 to a morning low $0.07923 before finding support to move back through to $0.080 levels. The early moves saw NEM’s XEM come within range of the first major support level at $0.0786, while falling short of the first major resistance level at $0.0868.

For the day ahead, a move back through $0.0824 would support another run at the first major resistance level at $0.0868 to bring $0.090 levels into play, though sentiment across the broader market will need to materially improve to support a break out from the first major resistance level later in the day, the current pullback coming off the back of late Wednesday’s reversal.

Failure to move back through $0.0824 could see NEM’s XEM pullback deeper into the red, with a fall through the morning low $0.07923 bringing the day’s first major support level at $0.0786 into play, which may not be enough should sentiment fail to improve, the day’s second major support level at $0.0743 in play in the event of another meltdown.

XEM/USD 29/11/18 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0786

Major Resistance Level: $0.0868

Fib 23.6% Retracement Level: $0.1579

Fib 38% Retracement Level: $0.2166

Fib 62% Retracement Level: $0.3116

NEM’s XEM Technical Analysis – Eyeing New 2018 Lows – 21/11/18

Key Highlights

  • NEM’s XEM fell by 5.44% on Tuesday, following on from Monday’s 16.85% tumble, to end the day at $0.07999.
  • A morning reversal saw NEM’s XEM slide through the first major support level at $0.0743 to an intraday low and new swing lo $0.07234 before finding support.
  • The late morning rebound saw NEM’s XEM break through the first major resistance level at $0.0884 to strike an intraday high $0.08964 before pulling back to $0.07 levels.
  • The extended bearish trend formed at late April’s swing hi $0.46546 remained intact, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1651.

How to Buy NEM’s XEM

NEM’s XEM Price Support

NEM’s XEM fell by 5.44% on Tuesday, following Monday’s 16.85% slide, to end the day at $0.07999.

Tracking the broader cryptomarket, NEM’s XEM slid through the day’s first major support level at $0.0743 to a late morning intraday low and new swing lo $0.07234 before a late morning rebound that saw NEM’s XEM break through the first major resistance level at $0.0884 to an intraday high $0.08964.

Pressure from the broader market ultimately weighed, with NEM’s XEM falling back to $0.74 levels before steadying, NEM’s XEM unable to hold onto $0.08 levels late in the day, while the day’s loss was miner relative to the broader market.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained intact with Tuesday’s new swing lo $0.07234. NEM’s XEM also continued to fall well short of Tuesday’s 23.6% FIB Retracement Level of $0.1695, with the 23.6% FIB Retracement Level last having been tested back in the first week of June.

At the time of writing, NEM’s XEM was up 0.51% to $0.0804, with NEM’s XEM falling to an early morning low $0.07523 before finding support to move into positive territory and a morning high $0.08243. Easing back from the morning high, NEM’s XEM left the day’s major support and resistance levels untested through the early hours.

For the day ahead, a hold onto $0.080 levels would support another run through the morning high $0.08243 to bring the day’s first major resistance level at $0.0890, which should pin NEM’s XEM back from a break through to $0.09 levels, with investors likely to lock in profits early in case of another reversal later in the day.

Failure to hold onto $0.08 levels through the morning could see NEM’s XEM slide back into the red later in the day, with a pullback through the morning low $0.07523 bringing the day’s first major support level at $0.0717 into play. While we would expect plenty of support at $0.070, another broad based market sell-off would bring the day’s second major support level at $0.0634 into play before any recovery.

XEM/USD 21/11/18 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0717

Major Resistance Level: $0.0890

Fib 23.6% Retracement Level: $0.1651

Fib 38% Retracement Level: $0.225

Fib 62% Retracement Level: $0.3153

Bitcoin – Holding Steady as the Broader Market Suffers at the Hands of BCH

Bitcoin started the week on a flat note, losing just 0.02% on Monday, following a 0.26% gain on Sunday, to end the day at $6,447.9.

In spite of the lack of a major move on the day, some volatility has been creeping back in, with Bitcoin seeing moves in recent days that have broken out of the tight ranges gripping Bitcoin and the broader market seen since mid-October.

Monday’s moves saw Bitcoin have a negative bias through the day, with a start of a day intraday high $6,481 that saw Bitcoin come up against the day’s first major resistance level at $6,485.93 being one of only two bullish moves in the day, a second run at the first major resistance level in the early afternoon also coming short, leading to a fall to a late afternoon intraday low $6,418.8.

The reversal saw Bitcoin steer well clear of the day’s first major support level at $6,383.83 before moving back through to $6,440 levels to end the day flat, negative sentiment over the Bitcoin Cash hard fork on Thursday providing Bitcoin with the support needed to avoid a return to $6,300 levels.

With few expecting a breakout anytime soon, investors holding out for the SEC ruling, even fake news failed to wake Bitcoin up from its deep sleep, reports of China planning to lift the existing Bitcoin ban turning out to be a misinterpretation of a Shenzhen court ruling that had no impact on the direction of Bitcoin in the early hours.

Get Into Cryptocurrency Trading Today

At the time of writing, Bitcoin was up just 0.03% to $6,449, with a marginally choppier day seeing Bitcoin slide through the day’s first major support level at $6,416.8 to an early morning low $6,397.1 before finding support, Bitcoin managing to avoid the day’s second major support level at $6,386.7.

The recovery back through to $6,440 levels continues to reflect the high degree of support that Bitcoin receives at current levels, which suggests that few see a material Bitcoin sell-off anytime soon.

For the day ahead, a hold onto $6,445 through the rest of the morning would support a run at the day’s first major resistance level at $6,479, though for Bitcoin to break through the first major resistance level to bring $6,500 levels back into play, an early signal of a market rebound, fuelled by a Bitcoin Cash rally, would be needed.

Failure to move back through the morning high could see Bitcoin ease back to sub-$6,420 levels before steadying, with the general lack of movement through the late morning pointing to another range bound day ahead, which will have investors scouring the news wires in search of possible price action.

While Bitcoin’s flat and the broader market is in the red, NEM’s XEM continues to rebound following the resumption of trading on Coincheck, with a gain of 9.14% at the time of writing, which comes off 20.41% rally on Monday, being evidence in itself of what lies ahead should the outcome of the SEC decision be a favorable one for the Bitcoin bulls.

BTC/USD 13/11/18 Daily Chart

NEM’s XEM Technical Analysis – Eyeing Resistance Levels – 13/11/18

Key Highlights

  • NEM’s XEM rallied by 20.41% on Monday, following a 0.55% fall on Sunday, to end the day at $0.11243.
  • A mid-morning intraday low $0.09203 called on support at the first major support level at $0.092 ahead of a late morning rally.
  • The late morning rally saw NEM’s XEM break through the day’s major resistance levels, with NEM’s XEM holding onto $0.11 levels by the day’s end.
  • The extended bearish trend formed at late April’s swing hi $0.46546 remained intact, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1695.

How to Buy NEM’s XEM

 

NEM’s XEM Price Support

NEM’s XEM jumped by 20.41% on Monday, following a 0.55% decline on Sunday, to end the day at $0.11243.

A range bound start to the day saw NEM’s XEM ease back to a mid-morning intraday low $0.09203, calling on support at the day’s first major support level of $0.092 before a late morning rally kicked in, driven by news of NEM’s XEM being reinstated for trading on Coincheck.

The late morning rally saw NEM’s XEM break through the day’s major resistance levels to strike a late morning intraday high $0.1166 before easing back to a range bound afternoon, with sub-$0.11 support levels holding back NEM’s XEM from a more material reversal later in the day.

In spite of the day’s rally, the extended bearish trend remained firmly intact, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1695.

At the time of writing, NEM’s XEM was up 5.48% to $0.11859, with NEM’s XEM rallying from a start of a day dip to a morning low $0.10743 to a morning high $0.12066, the early move seeing NEM’s XEM come within range of the first major resistance level at $0.1220 before easing back.

For the day ahead, a move back through to $0.12 levels would support another run at the first major resistance level at $0.1220, with $0.13 levels and the second major resistance level at $0.1316 in play should momentum continue to side with NEM’s XEM, though we can expect some profit taking later in the day to see NEM’s XEM face plenty of resistance on any run at $0.13 levels.

Failure to move back through to $0.12 levels and hold through to the early afternoon could see NEM’s XEM hit reverse later in the day, with a fall through the morning low $0.10743 bringing sub-$0.10 levels and the day’s first major support level at $0.0974 into play, though sentiment will need to materially deteriorate for sub-$0.10 support levels to come into play.

XEM/USD 13/11/18 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0974

Major Resistance Level: $0.1070

Fib 23.6% Retracement Level: $0.1695

Fib 38% Retracement Level: $0.226

Fib 62% Retracement Level: $0.3174

NEM’s XEM Technical Analysis – Eyeing Support Levels – 05/11/18

Key Highlights

  • NEM’s XEM gained 2.92% on Sunday, reversing a 0.46% fall on Saturday, to end the week up 2.58% at $0.09614.
  • An early morning intraday low $0.09216 saw NEM’s XEM fall through the first major support level at $0.0922 before finding support from the broader market.
  • A late intraday day high $0.09732 saw NEM’s XEM break through the first major resistance level at $0.0954 and second major resistance level at $0.09670 before easing back.
  • The extended bearish trend formed at late April’s swing hi $0.46546 remained intact, NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1695.

How to Buy NEM’s XEM

NEM’s XEM Price Resistance

NEM’s XEM gained 2.92% on Sunday, following a 0.46% fall on Saturday, to end the day at $0.09614, the Sunday recovery taking NEM’s XEM into positive territory and a gain of 2.58% for the week.

A bearish start to the day saw NEM’s XEM fall through the first major support level at $0.0922 to an early morning intraday low $0.09216, steering clear of sub-$0.09 levels before finding support from a broader cryptomarket rally through the afternoon.

The afternoon rally saw NEM’s XEM break through the first major resistance level at $0.0954 and second major resistance level at $0.0967 to a late in the day intraday high $0.09732 before easing back through the second major resistance level by the day’s end.

In spite of the weekly gain, coming off the back of relatively heavy losses in October, the extended bearish trend remained firmly intact, with NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1695.

At the time of writing, NEM’s XEM was down 0.78% to $0.0954, with a relatively choppy start to the day seeing NEM’s XEM strike a start of a day morning high $0.09725 before succumbing to pressure from across the broader market, NEM’s XEM falling to an early morning low $0.09457, the early moves leaving the day’s major support and resistance levels untested.

For the day ahead, holding onto $0.095 levels through the morning would support a move back through the morning high $0.09725 to bring the first major resistance level at $0.0983 into play before any pullback, with any run at $0.10 levels and the second major support level at $0.1004 in the hands of sentiment across the broader market on the day.

Failure to hold onto $0.095 levels through the morning could see NEM’s XEM slide back through the morning low $0.09457 to bring $0.093 levels and the day’s first major support level at $0.0931 into play before any recovery, a visit to $0.092 levels a possibility should the morning sell-off continue into the afternoon.

 

XEM/USD 05/11/18 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0931

Major Resistance Level: $0.983

Fib 23.6% Retracement Level: $0.1695

Fib 38% Retracement Level: $0.226

Fib 62% Retracement Level: $0.3174

NEM’s XEM Technical Analysis – Downward Bias Remains – 26/10/18

Key Highlights

  • NEM’s XEM slid by 2.06% on Thursday, following a 0.2% decline on Wednesday, to end the day at $0.09802.
  • A bearish first half of the day saw NEM’s XEM slide through the first major support level at $0.0984 and second major support level at $0.0966 to an intraday low $0.09587 before partially recovering.
  • A start of a day intraday high $0.10021 came up short of the first major resistance level at $0.1017.
  • The extended bearish trend formed at late April’s swing hi $0.46546 remained intact, NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1695.

How to Buy NEM’s XEM

NEM’s XEM Price Support

NEM’s XEM slid by 2.06% on Thursday, following a 0.2% decline on Wednesday, to end the day at $0.09802.

A particularly bearish start to the day saw NEM’s XEM fall through the day’s first major support level at $0.0984 and second major support level at $0.0966 to a late morning intraday low $0.09587 before finding support and a move back through to 0.097 levels and a relatively range second half of the day.

An attempt at reducing the deficit for the day saw NEM’s XEM strike an afternoon high $0.09924 before pulling back to $0.098 levels, the late move falling well short of a start of a day intraday high $0.100211 that came up short of the first major resistance level at $0.1017.

The day’s reversal and downward bias continued to reaffirm the extended bearish trend formed at late April’s swing hi $0.46547, with NEM’s XEM needing to break out from the 23.6% FIB Retracement Level of $0.1695 and take a run at the 38.2% FIB Retracement Level of $0.226 to begin forming a bearish trend reversal.

At the time of writing, NEM’s XEM was down 1.39% to $0.09669, moves through the early morning seeing NEM’s XEM fall from a start of a day morning high $0.0983 to a morning low $0.09634, NEM’s XEM leaving the day’s major support and resistance levels untested.

For the day ahead, a move back through to 0.098 levels would support another run at $0.10 levels and the day’s first major resistance level at $0.1002, while the day’s second major resistance level at $0.1024 will likely be out of reach, with downward bias likely to see NEM’s XEM face profit taking at the first major resistance level to pin back more material gains.

Failure to move back through to $0.098 levels could see NEM’s XEM take the hit on the day, with a fall through the first major support level at $0.0959 in the early part of the day likely to see NEM’s XEM call on support at the second major support level at $0.0937 before any recovery.

XEM/USD 26/10/18 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0959

Major Resistance Level: $0.1002

Fib 23.6% Retracement Level: $0.1695

Fib 38% Retracement Level: $0.226

Fib 62% Retracement Level: $0.3174

NEM’s XEM Technical Analysis – Support Levels Back in Play – 17/10/18

Key Highlights

  • NEM’s XEM fell by 0.7% on Tuesday, following Monday’s 6.47% rally, to end the day at $0.09861.
  • A mid-morning intraday high $0.1016 saw NEM’s XEM fall short of the first major resistance level a $0.1111 before easing back.
  • Range bound through the afternoon, a late afternoon intraday low $0.09737 steered well clear of the first major support level at $0.0898.
  • The extended bearish trend formed at late April’s swing hi $0.46546 remained intact, NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1695.

How to Buy NEM’s XEM

NEM’s XEM Price Support

NEM’s XEM fell by 0.7% on Tuesday, partially reversing Monday’s 6.47% rally, to end the day at $0.09861.

Tracking the broader market through the day, NEM’s XEM moved through to a mid-morning intraday high $0.1016 before easing back to $0.90 levels, the day’s high falling well short of the first major resistance level at $0.1111 and more significantly, the 23.6% FIB Retracement Level of $0.1695.

While relatively range bound through the day, NEM’s XEM pulled back to a late afternoon intraday low $0.09737 before recovering to $0.98 levels by the day’s end, the day’s low holding well above the first major support level at $0.0898.

While NEM’s XEM managed to hold on to Monday’s USDT influenced rally, the extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact, with NEM’s XEM failing to make any move on the 23.6% FIB Retracement Level of $0.1695 and of greater significance, the 38.2% FIB Retracement Level of $0.226, NEM’s XEM needing to hit $0.20 levels to begin forming a bearish trend reversal.

At the time of writing, NEM’s XEM was up 0.18% to $0.09844, in what’s been a relatively choppy start to the day, NEM’s XEM moving from a start of a day morning low $0.09784 to a morning high $0.09948 before hitting reverse, the moves through the early morning leaving the major support and resistance levels untested.

For the day ahead, a move back through the morning high $0.09948 would support another run at $0.10 levels to bring the day’s first major resistance level at $0.1010 into play, with any signs of a broad based market rally kicking likely to support a run at the second major resistance level at $0.1034 before any pullback.

Failure to move through to the morning high $0.09948 could see NEM’s XEM take a bigger hit later in the day, with a pullback through the morning low $0.09784 likely to see NEM’s XEM call on support at the day’s first major support level at $0.0968 before any recovery, sub-$0.096 support levels unlikely to be tested barring materially negative news hitting the crypto wires.

XEM/USD 17/10/18 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0968

Major Resistance Level: $0.1010

Fib 23.6% Retracement Level: $0.1695

Fib 38% Retracement Level: $0.226

Fib 62% Retracement Level: $0.3174

NEM’s XEM Technical Analysis – Support Levels in Play – 09/10/18

Key Highlights

  • NEM’s XEM rose by 3.1% on Monday, following on from Sunday’s 3.4% rally, to end the day at $0.11033.
  • An early morning intraday low $0.10506 saw NEM’s XEM steer clear of the day’s first major support level at $0.1032.
  • Support from the broader market led NEM’s XEM through to mid-day intraday high $0.11168, NEM’s XEM breaking through the first major resistance level at $0.1105.
  • The extended bearish trend formed at late April’s swing hi $0.46546 remained intact, NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1695.

How to Buy NEM’s XEM

NEM’s XEM Price Resistance

NEM’s XEM gained 3.1% on Monday, following on from Sunday’s 3.4% rally, to end the day at $0.11033.

Tracking the broader market through the early hours, NEM’s XEM pulled back from a start of a day $0.10801 to a mid-morning intraday low $0.10506 before support kicked in from the broader market, the morning low holding well above the first major support level at $0.1032.

A late morning rally saw NEM’s XEM break through the first major resistance level at $0.1105 to a mid-day intraday high $0.11168 before easing back through the afternoon to sub-$0.11 levels, with resistance at $0.11 proving too strong for NEM’s XEM, a late in the day move back through to $0.11 levels failing to break out from the first major resistance level at $0.1105, while NEM’s XEM managed to hold on to $0.11 levels by the day’s end.

In spite of a 2nd consecutive day of gains, the extended bearish trend remained intact, with NEM’s XEM continuing to fall short of the 23.6% FIB Retracement Level of $0.1695. While the bearish trend was reaffirmed, upward momentum since mid-September is evident, raising the prospects of a near-term bullish trend being formed should the news wires remain crypto friendly.

At the time of writing, NEM’s XEM was down 0.47% to $0.10979, with NEM’s XEM easing back from a start of a day high $0.11065 to sub-$0.11 levels in the early hours.

For the day ahead, holding above $0.1090 through the morning would support a run back through to $0.11 levels to bring the day’s first major resistance level at $0.113 into play, while NEM’s XEM may struggle to take a run at the second major resistance level at $0.1156 barring particularly positive news hitting the wires, $0.11 proving to be a key resistance level for NEM’s XEM in recent days.

Failure to hold on to $0.1090 levels through the morning could see NEM’s XEM slide through to test the day’s first major support level at $0.1064, with sentiment across the broader market and the news wires to decide direction later in the day, any broad based market sell-off likely to see NEM’s XEM test the day’s second major support level at $0.1024 before any recovery.

XEM/USD 09/10/18 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.1064

Major Resistance Level: $0.1130

Fib 23.6% Retracement Level: $0.1695

Fib 38% Retracement Level: $0.226

Fib 62% Retracement Level: $0.3174

NEM’s XEM Technical Analysis – Support in Play – 01/10/18

Key Highlights

  • NEM’s XEM rose by 0.51% on Sunday, following a 1.72% gain on Saturday, to end the week down 5.07% to $0.09714.
  • An early morning intraday low $0.09455 saw NEM’s XEM steer clear of the day’s first major support level at $0.0932.
  • Support from the broader market led NEM’s XEM through to a late in the day intraday high $0.09781, falling short of the first major resistance level at $0.0990.
  • The week’s losses reaffirmed the extended bearish trend formed at late April’s swing hi $0.46546, NEM’s XEM continuing to fall well short of the 23.6% FIB Retracement Level of $0.1695.

How to Buy NEM’s XEM

NEM’s XEM Price Support

NEM’s XEM gained 0.51% on Sunday, following a 1.72% rise on Saturday, to end the week down 5.07% to 0.09714. The week’s reversal contributed to a September 7.68% slide and a 40.61% tumble through the 3rd quarter.

It was a particularly choppy end to the quarter, with NEM’s XEM falling back from a start of a day morning high $0.9731 to an early morning intraday low $0.09455, before support from the broader cryptomarket kicked in for NEM’s XEM to move through to a late morning high $0.09701. The moves through the 1st half of the day left the major support and resistance levels untested.

NEM’s XEM managed to avoid of hitting a new low through the afternoon, with a number of pullbacks to $0.095 levels finding plenty of support, leading to a late in the day rally to an intraday high $0.09781, falling short of the day’s first major resistance level at $0.099 ahead of the day’s end.

At the time of writing, NEM’s XEM was down 0.24% to $0.96916, with NEM’s XEM moving from a start of a day morning low $0.9655 to a morning high $0.09777, before easing back, the day’s major support and resistance levels left untested, NEM’s XEM one of only a few of the majors in the red in the early hours.

For the day ahead, a move through the morning high $0.09777 would support a run at $0.098 levels to bring the day’s first major resistance level at $0.0985 into play, upward momentum from the broader market likely to lead to a reversal of the early losses should sentiment across the cryptomarket remain positive through the morning.

Failure to move back through the morning high $0.09777 could see NEM’s XEM take a bigger hit later in the day, with a pullback through the morning low $0.09655 likely to lead to a fall through to sub-$0.096 levels to bring the first major support level at $0.0952 into play before any recovery that would be dependent upon the news wires at the time of testing support levels.

It’s bearish start to the quarter, with direction likely to be hinged on the broader market later in the day.

XEM/USD 01/10/18 Daily Chart

Looking at the Technical Indicators

Major Support Level: $0.0952

Major Resistance Level: $0.0985

Fib 23.6% Retracement Level: $0.1695

Fib 38% Retracement Level: $0.226

Fib 62% Retracement Level: $0.3174