What is NEM – The Full Guide

NEM

NEM is a blockchain written in Java, the double-layer blockchain supports multiple ledgers on its cryptocurrency layers. NEM’s ecosystem is built in such a way that seamlessly connects and transfers any type of digital assets between private and public blockchains. A collective growth mindset, made NEM to abdicate the POS consensus and introduce the POI. NEM is the world’s first practitioner of POI (Proof-of-Importance) consensus. Although it is similar to Proof-of-Stake which requires locking of certain amounts of coins in the ecosystem, there are several major differences.

The key difference between the POS and POI consensus is that in the POS consensus the amount of coins staked does matter, whereas a staker allocating 10% of the staked amount will be able to mine only 10% of blocks in the network. The POI consensus is used to determine network participants which are eligible enough to add blocks to the blockchain, in NEM’s ecosystem adding blocks to the blockchain is called “harvesting”.

In POS the more coins one stakes, the higher the reward and the reputation, however in POI mechanism, there are three key factors which build the reputation of the node: vesting (holding of 10000 XEM in the wallet), transaction partners, number of transactions within 30 days.

Symbol

Symbol is NEM’s project mainly focused on Enterprise. Symbol is a hybrid blockchain, which means that the blockchain is not fully accessible by anyone although it still bears features of a blockchain such as transparency, security and solidness. The hybrid blockchain is fully customizable and blockchain nodes can decide which transactions should be verifiable, who can participate in the blockchain and which transactions can be public.

The interoperability of public and private chains from what it seems like allow a cost-efficient, seamless data transfer between these two chains, avoiding third party bridges, which are used in interconnection of public and private chain protocols. Just like other blockchains built nowadays, Symbol is interoperable, which means no intermediaries needed for data transfer and token swaps between any blockchain and Symbol.

Source: Symbol Platform official website

As NEM commented, the launch of the mainnet of Symbol is scheduled on March 15, after a long 4 years of developments. On March 12, the project will pre-launch Opt-in and snapshot phase at a block height of 3,105,500.

The Opt-in means that any NEM’s proprietary token – XEM holders can receive Symbol’s proprietary token – XYM upon the mainnet launch. Basically what that means is that during the block height of 3,105,500 the system will read all wallets that have participated in the Opt-in and will allocate XYM to the Symbol account created during the Opt-in, which is exactly the same as the balance of one’s XEM wallet. In other words, hold your XEM in your NEM wallet (note: the wallet must be updated to the latest one), apply for Opt-in, create a Symbol account, for each 1 XEM in your balance you will receive 1 XYM, the XEM balance will remain intact, according to the announcement on NEM’s official website.

How is it going to impact XEM?

The Symbol is a promising project, it already made partners with some big names in the industry. The XYM token is already listed in Poloniex, Bitpanda, Gateio and others, and listing of the XYM is already on the task list of giants such as Binance, Huobi, Kucoin and 17 other exchanges. Some exchanges will support the snapshot of wallets for XYM allocation, among such are Binance, Kucoin, and recently announced Coinex.

While the excitement in this airdrop is heavy, XEM price seems to be silent and waiting for an alert to trigger. While the cryptocurrency market is in an uptrend today with Bitcoin gaining almost 4% today only according to the data of the cryptocurrency trading platform Overbit,

XEM/USD lies low like a leopard before a jump.

Source: TradingView

Based on the technical chart analysis, XEM/USD is currently in a corrective 5-wave ABCDE formation, which formed a symmetrical triangle. Based on the technical analysis, the chart pattern and the MACD indicator, XEM/USD will probably break the upper edge of the triangle and move upwards. The resistances to watch here are $0.7530 and $0.8000. Closing below the lower edge might lead to a drop to $0.6100 and $0.6000.

One should bear in mind that in most cases listings of new coins and airdrops led to massive sell-offs among the token investors. In case of NEM and Symbol such might not be the case or the so-called “dump” might not be as heavy as during the boom of ICO’s. The first reason is that in the emerging ecosystem of NEM, many might consider becoming network participants, the overall crypto market sentiment still remains bullish and tokens of cross-chain networks such as Polkadot are among the top investment appealing, enterprises are going blockchain and are integrating blockchain into their existing network another example of a project which allowed enterprises to connect their external data to blockchain is Chainlink, whose token LINK is along-side Polkadot’s DOT is an outperforming coin and still is appreciated by long-term investors. As the crypto-adoption is growing, more stores are tend to accept cryptocurrencies as payment, projects like Symbol will assist in bringing the crypto and blockchain to the IoT we got used to.

NEM’s XEM Technical Analysis – Resistance Levels in Play – 19/08/19

Key Highlights

  • NEM’s XEM rose by 2.29% on Sunday. Following a 0.74% gain from Saturday, NEM’s XEM ended the day at $0.05531.
  • An early morning intraday low $0.053347 saw NEM’s XEM hold above the first major support level at $0.05280.
  • A late afternoon intraday high $0.056112 saw NEM’s XEM break through the first major resistance level at $0.0551.
  • The extended bearish trend formed at late April 2018’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 Resistance

NEM’s XEM rose by 2.29% on Sunday. Following a 0.74% gain from Saturday, NEM’s XEM ended the day at $0.055431.

A choppy start to the day saw NEM’s XEM fall to an early morning intraday low $0.053347 before finding support.

In spite of the early pullback, NEM’s XEM steered clear of the first major support level at $0.0528.

Finding support from the broader market, NEM’s XEM rallied to a late afternoon intraday high $0.056112 before easing back.

The late morning rally saw NEM’s XEM break through the first major resistance level at $0.0551.

Choppy late in the day, NEM’s XEM slid back to $0.054 levels before closing out the day at $0.055 levels

The extended bearish trend, formed at late April 2018’s swing hi $0.46547, remained firmly intact.

Following a brief visit to $0.133 levels in the week of 13th May, a pullback to sub-$0.06 levels ensured that NEM’s XEM continued to fall 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 0.26% to $0.05545. A bullish start to the day saw NEM’s XEM rise from an early morning low $0.055034 to a morning high $0.055729 before easing back.

NEM’s XEM left he major support and resistance levels untested early on.

XEM/USD 19/08/19 Daily Chart

For the day ahead

NEM’s XEM would need to hold onto $0.055 levels to support a run at the first major resistance level at $0.0565.

Support from the broader market would be needed, however, for NEM’s XEM to break out from Sunday’s high $0.056112.

Barring a broad-based crypto rally, Sunday’s high and the first major resistance level would likely cap any upside on the day.

Failure to hold onto $0.055 levels could see NEM’s XEM take a hit on the day.

A fall through to $0.05450 would bring the first major support level at $0.0537 into play before any recovery.

Barring a crypto meltdown, NEM’s XEM should steer well clear of sub-$0.53 levels and the second major support level at $0.0522.

Looking at the Technical Indicators

Major Support Level: $0.0537

Major Resistance Level: $0.0565

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Support Levels in Play – 09/08/19

Key Highlights

  • NEM’s XEM slid by 4.62% on Thursday. Reversing a 0.78% gain from Wednesday with interest, NEM’s XEM ended the day at $0.060756.
  • An early morning intraday high $0.06437 saw NEM’s XEM fall short of the first major resistance level at $0.06630
  • A late intraday low $0.059935 saw NEM’s XEM fall through the first major support level at $0.06140.
  • The extended bearish trend formed at late April 2018’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 slid by 4.62% on Thursday. Reversing a 0.78% gain from Wednesday, with interest, NEM’s XEM ended the day at $0.060756.

Bearish from the start of the day, NEM’s XEM slid from an early morning intraday high $0.06437 to a mid-morning low $0.06175.

Steering clear of the major resistance levels, NEM’s XEM came within range of the first major support level at $0.0614.

Finding support through the late morning, NEM’s XEM recovered to $0.063 levels before hitting reverse.

Sliding through the 2nd half of the day, NEM’s XEM fell to a late intraday low $0.059935. The reversal saw NEM’s XEM fall through the first major support level at $0.0614.

Finding support late on, NEM’s XEM managed to recover to $0.060 levels ahead of the day end.

The extended bearish trend, formed at late April 2018’s swing hi $0.46547, remained firmly intact. Following a brief visit to $0.133 levels in the week of 13th May, a pullback to sub-$0.07 levels ensured that NEM’s XEM continued to fall 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 down by 1.08% to $0.060102. A choppy start to the day saw NEM’s XEM rise to an early morning high $0.061188 before hitting reverse.

Falling short of the first major resistance level at $0.0634, NEM’s XEM slid back to a morning low $0.059779.

In spite of the early sell-off, NEM’s XEM steered clear of the first major support level at $0.0590.

XEM/USD 09/08/19 Daily Chart

For the day ahead

A move through the morning high to $0.0617 levels would support a run at the first major resistance level at $0.0634.

NEM’s XEM would need the support of the broader market, however, to break out from $0.0610 levels.

In the event of a broad-based crypto rebound, Thursday’s high $0.06437 would pin NEM’s XEM back from a run at the second major resistance level at $0.0661.

Failure to move through to $0.0617 levels could see NEM’s XEM fall deeper into the red.

A fall through the morning low $0.059779 would bring the first major support level at $0.0590 into play.

Barring an extended sell-off through the day, NEM’s XEM should steer well clear of the second major support level at $0.0573.

Looking at the Technical Indicators

Major Support Level: $0.0590

Major Resistance Level: $0.0634

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Support Levels in Play – 01/08/19

Key Highlights

  • NEM’s XEM rose by 1.88% on Wednesday. Following on from a 2.72% gain from Tuesday, NEM’s XEM ended the day at $0.06626.
  • An early afternoon intraday high $0.066945 saw NEM’s XEM break through the first major resistance level at $0.0665
  • A late intraday low $0.064529 saw NEM’s XEM steer clear of the first major support level at $0.06270
  • The extended bearish trend formed at late April 2018’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 rose by 1.88% on Wednesday. Following on from a 2.72% gain from Tuesday, NEM’s XEM ended the day at $0.06626.

A relatively bullish first half of the day saw NEM’s XEM rise from a morning low $0.06453 to an early afternoon intraday high $0.066945.

Steering clear of the major support levels, NEM’s XEM broke through the first major resistance level at $0.06650.

A pullback through the afternoon saw NEM’s XEM fall to a late intraday low $0.064529 before finding support.

Steering clear of the first major support level at $0.0627, NEM’s XEM recovered to $0.066 levels to close out the day in the green.

The extended bearish trend, formed at late April 2018’s swing hi $0.46547, remained firmly intact.

Following a brief visit to $0.133 levels in the week of 13th May, a pullback to sub-$0.07 levels ensured that NEM’s XEM continued to fall 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 down by 2.28% to $0.06475. A bearish start to the day saw NEM’s XEM fall from an early morning high $0.06622 to a low $0.064296 before finding support.

Steering clear of the first major resistance level at $0.0673, NEM’s XEM fell through the first major support level at $0.0649 early on.

XEM/USD 01/08/19 Daily Chart

For the day ahead

A move back through the first major support level to $0.0660 levels would support a run at the first major resistance level at $0.0673.

NEM’s XEM would need the support of the broader market, however, to break out from this morning’s high $0.06622.

Barring a broad-based crypto rally, Wednesday’s high $0.066945 and the first major resistance level would likely limit any upside.

Failure to move back through to $0.0660 levels would see NEM’s XEM struggle through the day. A fall back through the morning low $0.064296 would bring sub-$0.064 levels into play.

An extended sell-off through the day would see NEM’s XEM test the second major support level at $0.0635 before any recovery.

Barring a crypto meltdown, however, we would expect NEM’s XEM to steer clear of sub-$0.0630.

Looking at the Technical Indicators

Major Support Level: $0.0649

Major Resistance Level: $0.0673

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Support Levels in Play – 24/07/19

Key Highlights

  • NEM’s XEM fell by 6% on Tuesday. Following a flat Monday, NEM’s XEM ended the day at $0.06371.
  • An early morning intraday high $0.069593 saw NEM’s XEM test the first major resistance level at $0.06930
  • A late intraday low $0.063418 saw NEM’s XEM fall through the first major support level at $0.0655.
  • The extended bearish trend formed at late April 2018’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

A bullish start to the day saw NEM’s XEM rise to an early morning intraday high $0.069593 before hitting reverse

NEM’s XEM broke through the first major resistance level at $0.0693 before sliding to an intraday low $0.063418.

The sell-off saw NEM’s XEM fall through the first major support level at $0.0655. The only good news on the day was that NEM’s XEM avoided a fall through the second major support level at $0.0633.

The extended bearish trend, formed at late April 2018’s swing hi $0.46547, remained firmly intact.

Following a brief visit to $0.133 levels in the week of 13th May, a pullback to sub-$0.07 levels ensured that NEM’s XEM continued to fall 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 down by 1.76% to $0.06259. A bearish start to the day saw NEM’s XEM fall from a morning high $0.064574 to a low $0.061767.

In spite of the choppy start to the day, NEM’s XEM steered clear of the major support and resistance levels early on.

XEM/USD 24/07/19 Daily Chart

For the day ahead

A move through to $0.0650 levels would be needed to bring the first major resistance level at $0.0677 into play.

Barring a broad-based crypto rebound, however, NEM’s XEM would likely come up short of $0.065 levels on the day.

In the event of a crypto rally, NEM’s XEM could revisit Tuesday’s high $0.06959 before hitting reverse.

Failure to move through to $0.065 levels could lead to heavier losses on the day. A fall through the morning low $0.061767 would bring the first major support level at $0.0616 back into play.

Barring an extended sell-off through the day, NEM’s XEM should steer clear of sub-$0.60 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.0616

Major Resistance Level: $0.0677

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Support Levels in Play – 05/07/19

Key Highlights

  • NEM’s XEM tumbled by 15.7% on Sunday. Following on from a 5.85% slide on Saturday, NEM’s XEM ended the day at $0.06217.
  • An early morning intraday high $0.074212 saw NEM’s XEM fall short of the first major resistance level at $0.0783.
  • A late intraday low $0.06115 saw NEM’s XEM fall through the first major support level at $0.0694 and second major support level at $0.0655.
  • The extended bearish trend formed at late April 2018’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 Resistance

NEM’s XEM tumbled by 15.71% on Sunday. Following on from a 5.85% fall on Saturday, NEM’s XEM ended the day at $0.06217.

A particularly bearish weekend left NEM’s XEM down by 31.35% for the week ending 14th July.

On the day, a bearish morning saw NEM’s XEM slide from an early intraday high $0.074212 to a mid-afternoon low $0.061375.

Steering clear of the major resistance levels, NEM’s XEM fell through the first major support level at $0.0694 and second major support level at $0.0655.

A move back through to $0.065 levels late in the day was short-lived, with NEM’s XEM sliding back to a late intraday low $0.06115.

The extended bearish trend, formed at late April 2018’s swing hi $0.46547, remained firmly intact.

Following a brief visit to $0.133 levels in the week of 13th May, a pullback to sub-$0.07 levels ensured that NEM’s XEM continued to fall 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 down by 0.95% to $0.06158. A bearish start to the day saw NEM’s XEM fall from a morning high $0.063275 to a low $0.058046.

NEM’s XEM came within range of the first major support level at $0.0575 before moving back through to $0.060 levels.

XEM/USD 15/07/19 Daily Chart

For the day ahead

A move through the morning high $0.063275 to $0.0658 levels would support a run at $0.070 levels later in the day.

NEM’s XEM would need the support of the broader market, however, to break out from $0.064 levels on the day.

In the event of a broad-based crypto rebound, NEM’s XEM could take a run at $0.072 levels before any pullback.

Failure to move through to $0.0658 levels could see NEM’s XEM struggle on the day. A fall back through to sub-$0.060 levels would bring the first major support level at $0.0575 into play.

Barring another crypto meltdown, NEM’s XEM should steer clear of the second major support level at $0.0528.

Looking at the Technical Indicators

Major Support Level: $0.0575

Major Resistance Level: $0.0705

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Resistance Levels in Play – 05/07/19

Key Highlights

  • NEM’s XEM fell by 2.61% on Thursday. Partially reversing a 3.46% gain from Wednesday, NEM’s XEM ended the day at $0.08895.
  • A late afternoon intraday high $0.09654 saw NEM’s XEM break through the first major resistance level at $0.0946.
  • A late intraday low $0.08776 saw NEM’s XEM test the first major support level at $0.0878.
  • The extended bearish trend formed at late April 2018’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 Resistance

NEM’s XEM fell by 2.61% on Thursday. Partially reversing a 3.46% gain from Wednesday, NEM’s XEM ended the day at $0.08895.

A relatively choppy start to the day saw NEM’s XEM fall to a morning low $0.08776 before making a move.

Finding support at the first major support level at $0.0878, NEM’s XEM bounced back to a late afternoon intraday high $0.09654.

The afternoon rally saw NEM’s XEM break through the first major resistance level at $0.0946 before taking a hit.

A broad-based crypto sell-off in the final hour of the day pulled NEM’s XEM into the red. NEM’s XEM slid to an intraday low $0.08776 before finding support. The first major support level at $0.0878 limited the downside for a 2nd time on the day.

The extended bearish trend, formed at late April 2018’s swing hi $0.46547, remained firmly intact.

Following a brief visit to $0.133 levels in the week of 13th May, a pullback to sub-$0.09 levels ensured that NEM’s XEM continued to fall 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 1.16% to $0.08998. A bullish start to the day saw NEM’s XEM rise from a morning low $0.08794 to a high $0.09057 before easing back.

NEM’s XEM left the major support and resistance levels untested in spite of the early gains.

XEM/USD 05/07/19 Daily Chart

For the day ahead

A move through to $0.0915 levels would support a run at the first major resistance level at $0.0944 later in the day.

NEM’s XEM would need the support of the broader market, however, to break out from this morning’s high $0.09057.

In the event of a broad-based crypto rally, NEM’s XEM could visit $0.096 levels struck on Thursday before any pullback.

We would expect, however, for NEM’s XEM to come up short of the second major resistance level at $0.0999.

Failure to move through to $0.0915 levels could see NEM’s XEM hit reverse. A fall through the morning low $0.08794 would bring the first major support level at $0.0823 into play before any recovery.

Barring a crypto meltdown, NEM’s XEM should steer well clear of sub-$0.080 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.0856

Major Resistance Level: $0.944

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Resistance Levels in Play – 27/06/19

Key Highlights

  • NEM’s XEM rallied by 6.63% on Wednesday. Reversing a 0.1% fall from Tuesday, NEM’s XEM ended the day at $0.09812.
  • A late afternoon intraday high $0.10913 saw NEM’s XEM break through the major resistance levels.
  • A late intraday low $0.089486 saw NEM’s XEM hold above the first major support level at $0.0871.
  • 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 Resistance

NEM’s XEM rallied by 6.63% on Wednesday. Reversing a 0.1% fall from Tuesday, NEM’s XEM ended the day at $0.09812.

Bullish through most of the day, NEM’s XEM rallied from a morning low $0.09102 to a late afternoon intraday high $0.10913.

The rally saw NEM’s XEM break through the day’s major resistance levels before hitting reverse late in the day.

A broad-based crypto sell-off saw NEM’s XEM fall to a late intraday low $0.08949 before bouncing back. In spite of the reversal, NEM’s XEM steered clear of the first major support level at $0.0871 before recovering to $0.098 levels.

The extended bearish trend, formed at late April 2018’s swing hi $0.46547, remained firmly intact.

Following a brief visit to $0.133 levels in the week of 13th May, a pullback to sub-$0.10 levels ensured that NEM’s XEM continued to fall 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 down 0.97% to $0.09717. A particularly choppy start to the day saw NEM’s XEM rise to a morning high $0.10679 before sliding to a low $0.09377.

The early rally saw NEM’s XEM come within range of the first major resistance level at $0.1083. NEM’s XEM managed to hold well above the first major support level at $0.0887 on the way down.

XEM/USD 2706/19 Daily Chart

For the day ahead

A move back through to $0.0990 levels would support another run at the first major resistance level at $0.1083.

NEM’s XEM would need support from the broader market, however, to break out from the early morning high $0.10679.

In the event of a broad-based crypto rebound, NEM’s XEM could take another run at $0.11 levels before any pullback.

Failure to move back through to $0.099 levels could see NEM’s XEM slide deeper into the red. A pullback through the morning low $0.09377 could bring sub-$0.0900 levels into play before any recovery.

Barring an extended crypto sell-off, the first major support level at $0.0887 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.0887

Major Resistance Level: $0.1083

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Resistance Levels in Play – 19/06/19

Key Highlights

  • NEM’s XEM slid by 4.96% on Tuesday. Reversing a 3.46% gain from Monday, NEM’s XEM ended the day at $0.08613.
  • A start of a day intraday high $0.09095 saw NEM’s XEM fall short of the first major resistance level at $0.0934.
  • A late intraday low $0.08486 saw NEM’s XEM fall through the first major support level at $0.0876.
  • 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 slid by 4.96% on Tuesday. Reversing a 3.46% gain from Monday, NEM’s XEM ended the day at $0.08613.

A particularly bearish day saw NEM’s XEM slide from a start of a day intraday high $0.09095 to a late intraday low $0.08486.

Steering clear of the first major resistance level at $0.0934, support levels came into play by mid-morning.

NEM’s XEM fell through the first major support level at $0.0876 to come within range of the second major support level at $0.0846.

Support from the broader market kicked in late in the day, with NEM’s XEM managing to move back through to $0.086 levels.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact.

Following a brief visit to $0.133 levels in the week of 13th May, a pullback to sub-$0.10 levels ensured that NEM’s XEM continued to fall 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 1.03% to $0.08702. A bullish start to the day saw NEM’s XEM rally from a morning low $0.08536 to an early morning high $0.087353.

In spite of the early moves, NEM’s XEM left the major support and resistance levels untested.

XEM/USD 19/06/19 Daily Chart

For the day ahead

A move back through to $0.0873 levels would support further gains later in the day.

NEM’s XEM would need to move through to $0.0880 levels, however, to take a run at the first major resistance level at $0.0898.

Barring a broad-based crypto rally, NEM’s XEM would likely come up short of $0.0890 levels on the day.

In the event of a broad-based market rebound, NEM’s XEM would likely break through the first major resistance levels to hit $0.090 levels.

The second major resistance level at $0.0934 would likely cap any upside, in the event of a breakout.

Failure to move back through to $0.0873 levels could see NEM’s XEM hit reverse. A fall through the morning low $0.08536 would bring $0.0840 levels into play before any recovery.

In the event of a reversal, the first major support level at $0.0837 should limit the downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.08370

Major Resistance Level: $0.08980

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Support Levels in Play – 11/06/19

Key Highlights

  • NEM’s XEM rose by 3.78% on Monday. Partially reversing a 5.55% slide from Sunday, NEM’s XEM ended the day at $0.08476.
  • A start of a day intraday low $0.079486 saw NEM’s XEM hold above the first major support level at $0.07780.
  • A mid-day intraday high $0.085632 saw NEM’s XEM break through the first major resistance level at $0.0848.
  • 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 rose by 3.78% on Monday. Partially reversing a 5.55% slide from Sunday, NEM’s XEM ended the day at $0.08476.

A bullish start to the day, NEM’s XEM rallied from an early intraday low $0.079486 to $0.084 levels by mid-morning before easing back.

Holding onto $0.080 levels and steering clear of the first major support level at $0.0778, NEM’s XEM rallied to a mid-day intraday high $0.085632.

The late morning rally saw NEM’s XEM break through the first major resistance level at $0.0848.

A pullback through the afternoon saw NEM’s XEM fall to an afternoon low $0.08307 before finding late support to test the first major resistance level for a 2nd time.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact. Following 9 weeks in the green, NEM’s XEM saw 6 weeks in the red out of the last 9. The reversal ensured that NEM’s XEM continued to fall short of the 23.6 FIB Retracement Level of $0.1359 following 6th February’s new swing lo $0.03405.

NEM’s XEM had managed come within range of the 23.6% FIB with a current year high $0.13364 struck on 16th May before sliding back to sub-$0.09 levels.

At the time of writing, NEM’s XEM was down by 0.83% to $0.08406. A bullish start to the day saw NEM’s XEM rise to a morning high $0.08709 before hitting reverse.

NEM’s XEM came up against the first major resistance level at $0.0871 before falling to a morning low $0.08344.

In spite of the pullback, NEM’s XEM left the major support levels untested early on.

XEM/USD 11/06/19 Daily Chart

For the day ahead

A hold above $0.08350 levels through the morning would support a recovery later in the day. NEM’s XEM would need to move through to $0.0850 levels to take another run at the first major resistance level.

Barring a broad-based crypto rebound, the first major resistance level would likely cap any upside on the day.

Failure to hold above $0.0835 levels could see NEM’s XEM take a bigger hit on the day. A slide back through the morning low $0.08344 would bring the first major support level at $0.0810 into play.

Barring an extended crypto sell-off, however, NEM’s XEM would likely steer clear of the second major support level at $0.0771.

Looking at the Technical Indicators

Major Support Level: $0.0810

Major Resistance Level: $0.0871

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Support Levels in Play – 03/06/19

Key Highlights

  • NEM’s XEM rose by 2.45% on Sunday. Partially reversing a 4.91% slide from Saturday, NEM’s XEM ended the day at $0.09536.
  • A start of a day intraday low $0.093 saw NEM’s XEM come within range of the first major support level at $0.0923.
  • A mid-day intraday high $0.09699 saw NEM’s XEM break through the first major resistance level at $0.0958.
  • 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 gained 2.45% on Sunday. Partially reversing a 4.91% slide from Saturday, NEM’s XEM ended the day at $0.09536.

The Sunday recovery gave NEM’s XEM a 7.7% gain for the week.

On the day, a bullish start to the day saw NEM’s XEM rally from an early intraday low $0.09300 to a mid-day intraday high $0.09699.

Holding above the first major support level at $0.0923, NEM’s XEM broke through the first major resistance level at $0.0958 before sliding back to $0.093 levels.

Finding support late on, NEM’s XEM managed to move back through to $0.095 levels by the day end.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact. Following 9 weeks in the green, NEM’s XEM has seen 5 weeks in the red out of the last 8. The reversal ensured that NEM’s XEM continued to fall short of the 23.6 FIB Retracement Level of $0.1359 following 6th February’s new swing lo $0.03405.

NEM’s XEM had managed come within range of the 23.6% FIB with a current year high $0.13364 struck on 16th May before sliding back to sub-$0.10 levels.

At the time of writing, NEM’s XEM was down by 4.28% to $0.09127. A particularly choppy start to the day saw NEM’s XEM rally to a morning high $0.09875 before hitting reverse.

NEM’s XEM broke through the first major resistance level at $0.0972 before sliding to a mid-morning low $0.09077.

The reversal saw NEM’s XEM slide through the first major support level at $0.0932 and second major support level at $0.0911.

XEM/USD 03/06/19 Weekly Chart

For the day ahead

A move back through the first major support level at $0.0932 would bring $0.095 levels into play later in the day.

NEM’s XEM would need support from the broader market, however, to break out from $0.095 levels and take a run at the morning high $0.09875.

Barring a broad-based cryptomarket rebound, NEM’s XEM will likely come up short of the first major resistance level at $0.0972.

Failure to move back through the first major support level could see NEM’s XEM fall deeper into the red. A pullback through the morning low $0.09077 would bring sub-$0.090 levels into play before any recovery.

Barring a crypto meltdown, however, NEM’s XEM would likely steer clear of the third major support level at $0.0871.

Looking at the Technical Indicators

Major Support Level: $0.0932

Major Resistance Level: $0.0972

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Resistance Levels in Play – 24/05/19

Key Highlights

  • NEM’s XEM rose by 3.01% on Thursday. Partially reversing an 8.94% slide from Wednesday, NEM’s XEM ended the day at $0.081081.
  • A late morning intraday low $0.07295 saw NEM’s XEM fall through the first major support level at $0.0748.
  • A late intraday high $0.08236 saw NEM’s XEM fall short of the first major resistance level at $0.08460.
  • 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 Resistance

NEM’s XEM gained 3.01% on Thursday. Partially reversing an 8.94% slide from Wednesday, NEM’s XEM ended the day at $0.081081.

A bearish start to the day saw NEM’s XEM fall to a late morning intraday low $0.07295. The reversal saw NEM’s XEM fall through the first major support level at $0.0748 before bouncing back.

NEM’s XEM recovered to $0.080 levels in the early afternoon before easing back to $0.077 levels. Holding above the major support levels, NEM’s XEM found support from the broader market to strike a late intraday high $0.08236.

In spite of the rebound, NEM’s XEM fell short of the first major resistance level at $0.0856.

For the current week, it was the first day in the green out of four, leaving NEM’s XEM down 13.9% Monday through Thursday.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact. Following 9 weeks in the green, NEM’s XEM saw 4 weeks in the red out of the last 6. The reversal ensured that NEM’s XEM continued to fall short of the 23.6 FIB Retracement Level of $0.1359 following 6th February’s new swing lo $0.03405.

NEM’s XEM had managed to test selling pressure at the 23.6% FIB with a current year high $0.13664 struck on 16th May before sliding back to sub-$0.10 levels.

At the time of writing, NEM’s XEM was up by 3.53% to $0.083942. A particularly bullish start to the day saw NEM’s XEM rise from a morning low $0.08057 to a high $0.08693 before easing back.

The early rally saw NEM’s XEM break through the first major resistance level at $0.0846, whilst steering clear of the major support levels.

XEM/USD 24/05/19 Daily Chart

For the day ahead

A move back through the first major resistance level at $0.0846 would bring the second major resistance level at $0.0882 into play.

NEM’s XEM would need support from the broader market, however, to break out from the first major resistance level.

In the event of a broad-based crypto rally, NEM’s XEM could visit $0.090 levels before any pullback.

Failure to move back through the first major resistance level at $0.0846 could see NEM’s XEM hit reverse later in the day.

A pullback through to $0.0810 levels would bring $0.0790 levels into play before any recovery.

Barring a broad-based crypto sell-off, NEM’s XEM would likely steer clear of the first major support level at $0.0752.

A fall through to $0.0785 would be needed to bring the first major support level into play.

Looking at the Technical Indicators

Major Support Level: $0.0752

Major Resistance Level: $0.0846

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Resistance Levels in Play – 16/05/19

Key Highlights

  • NEM’s XEM surged by 24.78% on Wednesday. Following on from a 12.31% rally on Tuesday, NEM’s XEM ended the day at $0.08047.
  • A start of a day intraday low $0.06439 saw NEM’s XEM steer clear of the first major support level at $0.0543.
  • A late intraday high $0.079839 saw NEM’s XEM break through the first major resistance level at $0.0774.
  • 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 Resistance

NEM’s XEM surged by 24.78% on Wednesday. Following on from a 12.31% rally on Tuesday, NEM’s XEM ended the day at $0.08047.

A particularly bullish start to the day saw NEM’s XEM jump from an intraday low $0.06438 to a morning high $0.078 before easing back to sub-$0.070 levels.

The early move saw NEM’s XEM come up against the first major resistance level at $0.0774.

Recovering through the afternoon, support from the broader market delivered a rally late in the day. NEM’s XEM broke back through the first major resistance level to strike an intraday high $0.08111 before easing back.

In spite of the late breakout, NEM’s XEM fell well short of the second major resistance level at $0.0903 on the day.

A 3rd consecutive day in the green gave NEM’s XEM a 43.9% gain for the current week.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact, however. Following 9 weeks in the green, NEM’s XEM saw 4 weeks in the red out of the last 5. The reversal ensured that 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 19.63% to $0.09627. A particularly bullish start to the day saw NEM’s XEM rally from a morning low $0.07762 to a high $0.13231 before sliding back.

Moves through the early hours saw NEM’s XEM break through the major resistance levels to come within range of the 23.6% FIB of $0.1359.

XEM/USD 16/05/19 Daily Chart

For the day ahead

A move back through the third major resistance level at $0.1015 would support another run at $0.13 levels later in the day.

NEM’s XEM would need support from the broader market, however, to break out from the 23.6% FIB of $0.1359.

Barring a sustained broad-based crypto rally, NEM’s XEM would likely continue to fall short of the 23.6% FIB.

Failure to move back through the third major resistance level could see NEM’s XEM ease back to sub-$0.090 levels. A pullback through $0.0920 levels could see NEM’s XEM fall back through the second major resistance level at $0.0879 before any recovery.

Barring a crypto meltdown, NEM’s XEM will likely avoid a full reversal of the morning gains.

Looking at the Technical Indicators

Major Support Level: $0.0706

Major Resistance Level: $0.0842

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Support Levels in Play – 08/05/19

Key Highlights

  • NEM’s XEM slid by 5.32% on Tuesday. Reversing a 2.98% gain from Monday, NEM’s XEM ended the day at $0.053314.
  • An early morning intraday high $0.05794 saw NEM’s XEM break through the first major resistance level at $0.0577.
  • A late in the day intraday low $0.05291 saw NEM’s XEM fall through the first major support level at $0.0540.
  • 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 slid by 5.32% on Tuesday. Reversing a 2.98% gain from Monday, NEM’s XEM ended the day at $0.053314.

The latest sell-off follows on from an 8.7% loss from the previous week.

A bullish start to the day saw NEM’s XEM rise to an early morning intraday high $0.057937 before hitting reverse.

Coming up against the first major resistance level at $0.0577, NEM’s XEM slid to a late afternoon low $0.0540.

The reversal saw NEM’s XEM test the first major support level at $0.0540 before recovering to $0.055 levels.

NEM’s XEM failed to hold on, however. A late sell-off saw NEM’s XEM slide back through the first major support level at $0.0540 to an intraday low $0.05291.

Steering clear of the second major support level at $0.05170, NEM’s XEM managed to recover to $0.0530 levels late in the day,

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact. Following 9 weeks in the green, NEM’s XEM has seen 4 consecutive weeks in the red. The reversal ensured that 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 down by 1.9% to $0.05230. Tracking the broader market, NEM’s XEM fell from a start of a day morning high $0.053389 to a low $0.051487.

The reversal saw NEM’s XEM call on support at the first major support level at $0.0515 to move back through to $0.520 levels.

XEM/USD 08/05/19 Weekly Chart

For the day ahead

A move through the morning high $0.053389 to $0.0550 levels would bring the first major resistance level at $0.0565 into play.

NEM’s XEM would need support from the broader market, however, to break out from $0.0540 levels.

Barring a broad-based crypto rally, NEM’s XEM would likely come up short of $0.0560 levels. In the event of a crypto rally, Tuesday’s high $0.05794 would likely limit any upside on the day.

Failure to move through to $0.0550 levels could see NEM’s XEM fall deeper into the red. A pullback through to sub-$0.0520 levels could see NEM’s XEM fall through the first major support level at $0.0515 to sub-$0.0510 levels.

Barring a crypto meltdown, however, NEM’s XEM would likely steer clear of sub-$0.050 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.05150

Major Resistance Level: $0.0565

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Resistance Levels in Play – 30/04/19

Key Highlights

  • NEM’s XEM slid by 4.56% on Monday. Following on from a 1.33% fall on Sunday, NEM’s XEM ended the day at $0.05694.
  • An early morning intraday high $0.06108 saw NEM’s XEM fall short of the first major resistance level at $0.06170.
  • An early afternoon intraday low $0.05665 saw NEM’s XEM fall through the first major support level at $0.0583 and second major support level at $0.0568.
  • 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 Resistance

NEM’s XEM slid by 4.56% on Monday. Following on from a 1.33% fall on Sunday, NEM’s XEM ended the day at $0.05694.

The sell-off came off the back of a 5.8% loss from the previous week.

A bullish start to the day saw NEM’s XEM rise to an early morning intraday high $0.06108 before hitting reverse.

Falling short of the first major resistance level at $0.06170, NEM’s XEM fell to an early afternoon intraday low $0.05665.

The sell-off saw NEM’s XEM fall through the first major support level at $0.0583 and second major support level at $0.0568.

A partial recovery to $0.0585 levels was short-lived, with NEM’s XEM sliding back to $0.056 levels late in the day.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact. Following 9 weeks in the green, NEM’s XEM has seen 3 consecutive weeks in the red. The reversal ensured that 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 0.1% to $0.056997. A mixed start to the day saw NEM’s XEM rise from a morning low $0.05672 to a high $0.05782 before easing back.

NEM’s XEM left the day’s major support and resistance levels untested early on.

XEM/USD 30/04/19 Weekly Chart

For the day ahead

A move back through the morning high $0.0582 would support another run at the first major resistance level at $0.0598.

Support from the broader market would be needed, however, for NEM’s XEM to break through to $0.060 levels.

Barring a broad-based crypto rebound, NEM’s XEM would likely come up short of the second major resistance level at $0.0626.

Failure to move back through the morning high $0.0582 could see NEM’s XEM hit reverse. A pullback through the morning low $0.05672 would bring the first major support level at $0.0554 into play before any recovery.

Barring a crypto meltdown, NEM’s XEM would likely steer clear of the second major support level at $0.0538 on the day.

Looking at the Technical Indicators

Major Support Level: $0.0554

Major Resistance Level: $0.0598

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Support Levels in Play – 22/04/19

Key Highlights

  • NEM’s XEM fell by 1.83% on Sunday. Reversing a 1.24% gain from Saturday, NEM’s XEM ended the day at $0.06344.
  • An early morning intraday high $0.06719 saw NEM’s XEM break through the first major resistance level at $0.0655 and second major resistance level at $0.0665.
  • A late afternoon intraday low $0.06238 saw NEM’s XEM fall through the first major support level at $0.0635 and second major support level at $0.0625.
  • 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 1.83% on Sunday. Reversing a 1.24% gain from Saturday, NEM’s XEM ended the day at $0.06344.

The end of week pullback left NEM’s XEM with a 7.9% loss for the week.

A particularly bullish start to the day saw NEM’s XEM rally to an early morning intraday high $0.06719.

The early rally saw NEM’s XEM break through the first major resistance level at $0.0655 and second major resistance level at $0.0665.

Pressured by the broader market, NEM’s XEM tumbled to a late in the day intraday low $0.06238. The sell-off saw NEM’s XEM fall through the first major support level at $0.0635 and second major support level at $0.0625.

Support from the broader market led to a move back through the second major support level to $0.063 levels.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact.  in spite of the 9 weeks in the green out of the last 11. 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 down 0.68% to $0.063. A mixed start to the day saw NEM’s XEM rise to a morning high $0.06395 before pulling back. Steering clear of the first major resistance level at $0.0663, NEM’s XEM fell to a morning low $0.0630.

In spite of the pullback, NEM’s XEM managed to steer clear of the first major support level at $0.0615.

XEM/USD 22/04/19 Daily Chart

For the day ahead

A move through to $0.06450 levels would support a bullish second half of the day. Support from the broader market would be needed, however, for NEM’s XEM to breakout from the first major resistance level at $0.0663.

Barring a broad-based crypto rebound, NEM’s XEM will likely come up short of the second major resistance level at $0.0691. Sunday’s high $0.06719 would likely pin back NEM’s XEM on the day.

Failure to move through to $0.06450 levels could see NEM’s XEM fall deeper into the red. A pullback through to $0.0620 levels would bring the first major support level at $0.0615 into play before any recovery.

Barring a crypto meltdown, NEM’s XEM will likely steer well clear of sub-$0.060 levels and the second major support level at $0.0595.

Looking at the Technical Indicators

Major Support Level: $0.0615

Major Resistance Level: $0.0663

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Support Levels in Play – 12/04/19

Key Highlights

  • NEM’s XEM slid by 9.15% on Thursday. Following on from a 1.27% fall on Wednesday, NEM’s XEM ended the day at $0.06551.
  • An early morning intraday high $0.07287 saw NEM’s XEM fall short of the first major resistance level at $0.0749.
  • A late morning intraday low $0.06346 saw NEM’s XEM fall through the first major support level at $0.0699 and second major support level at $0.0677.
  • 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 slid by 9.15% on Thursday. Following on from a 1.27% fall from Wednesday, NEM’s XEM ended the day at $0.06551.

A particularly bearish morning saw NEM’s XEM fall from an intraday high $0.07287 to a late morning intraday low $0.06346.

Falling short of the first major resistance level at $0.0749, NEM’s XEM fell through the first major support level at $0.0699 and second major support level at $0.0677.

Tracking the broader market through the day, NEM’s XEM found support through the afternoon to hit an afternoon high $0.06648 before easing back. While finding support through the afternoon, NEM’s XEM failed to move back through the second major support level.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact in spite of the 9 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 down 2.03% to $0.06418. Tracking the broader market in the early hours, NEM’s XEM slid from a morning high $0.06575 to a low $0.06267. In spite of the early sell-off, NEM’s XEM left the major support and resistance levels untested.

XEM/USD 12/04/19 Daily Chart

For the day ahead

A move through to $0.067 levels would be needed to signal a rebound from this morning and Thursday’s losses. Barring support from the broader market, however, we would expect NEM’s XEM to fall short of $0.067 levels. In the event of a market rebound, NEM’s XEM would likely to take a run at $0.070 levels before any pullback. We would expect NEM’s XEM to come up short of the first major resistance level at $0.0711 on the day, however.

Failure to move through to $0.067 levels would likely see NEM’s XEM fall back further through the day. A pullback through the morning low $0.06267 would bring the first major support level at $0.0617 into play. In the event of a continued sell-off, NEM’s XEM would likely avoid a pullback to sub-$0.060 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.0617

Major Resistance Level: $0.0711

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Resistance Levels in Play – 04/04/19

Key Highlights

  • NEM’s XEM slid by 4.44% on Wednesday. Partially reversing a 26.13% rally from Tuesday, NEM’s XEM ended the day at $0.06989.
  • An early morning intraday high $0.079809 saw NEM’s XEM come up against the first major resistance level at $0.0790 before easing back.
  • A late in the day intraday low $0.06745 saw NEM’s XEM hold above the first major support level at $0.0621 before steadying.
  • 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 Resistance

NEM’s XEM slid by 4.44% on Wednesday. Partially reversing a 26.13% rally from Tuesday, NEM’s XEM ended the day at $0.06989.

A particularly bullish start to the day saw NEM’s XEM rally to an early morning intraday high $0.07981 before easing back.

The early move saw NEM’s XEM come up against the first major resistance level at $0.0790. Bouncing back from 0.0710 levels, NEM’s XEM struck an afternoon high $0.07945 and test the first major resistance level for a 2nd time before hitting reverse.

The late in the day reversal saw NEM’s XEM slide to an intraday low $0.06745. In spite of the sharp sell-off, NEM’s XEM managed to hold above the first major support level at $0.0621.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact in spite of the 8 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 1.8% to $0.07115. A bullish start to the day saw NEM’s XEM rise from a morning low $0.06838 to a high $0.07357 before easing back. Moves through the morning left the major support and resistance levels untested.

XEM/USD 04/04/19 Daily Chart

For the day ahead

A move through $0.0725 levels by late morning would support another run at the first major resistance level at $0.0773. Support from the broader market would be needed, however, for NEM’s XEM to take a run at Wednesday’s high $0.07981. Barring a broad-based crypto rally, we would expect NEM’s XEM to come up short of $0.080 levels on the day.

Failure to move through $0.0725 levels could see NEM’s XEM give up the morning gains. A fall back through the morning low $0.06838 would bring the first major support level at $0.065 into play. Barring a crypto sell-off, we would expect NEM’s XEM to avoid sub-$0.065 levels in the event of a reversal.

Looking at the Technical Indicators

Major Support Level: $0.065

Major Resistance Level: $0.0773

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

NEM’s XEM Technical Analysis – Resistance Levels in Play – 27/03/19

Key Highlights

  • NEM’s XEM slipped by 0.08% on Tuesday. Following on from a 4.51% slide on Monday, NEM’s XEM ended the day at $0.04963.
  • An early morning intraday high $0.05040 saw NEM’s XEM come up against the first major resistance level at $0.0504 before hitting reverse.
  • An early afternoon intraday low $0.04868 saw NEM’s XEM fall through the first major support level at $0.0491 before steadying.
  • 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 slipped by 0.08% on Tuesday. Following on from a 4.51% slide on Monday, NEM’s XEM ended the day at $0.04963.

A relatively range-bound start to the day saw NEM’s XEM rise to an early intraday high $0.0504 before hitting reverse.

Coming up against the first major resistance level at $0.0504, NEM’s XEM fell to an early afternoon intraday low $0.04859. The pullback saw NEM’s XEM slide through the first major support level at $0.0491 before recovering.

Finding support at the second major support level at $0.0485, NEM’s XEM managed to recover to $0.049 levels by the day’s end.

The bearish start to the week comes off the back of 7 consecutive weeks in the green for NEM’s XEM.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact in spite of the 7 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 by 2.45% to $0.05085. Tracking the broader market, NEM’s XEM rallied from a morning low $0.04957 to a morning high $0.051028. Steering clear of the first major support level at $0.0487, NEM’s XEM broke through the first major resistance level at $0.0505.

While breaking through to $0.0510 levels, NEM’s XEM came up short of the second major resistance level at $0.0514 before easing back.

XEM/USD 27/03/19 Daily Chart

For the day ahead

A hold onto $0.050 levels through the morning would support another run at the second major resistance level at $0.0514. The broader market would need to avoid a pullback for NEM’s XEM to move back through to $0.051 levels, however. In the event of an extended rally through the day, the second major resistance level would likely pin NEM’s XEM back from $0.0515 levels.

Failure to hold onto $0.050 levels could see NEM’s XEM give up the early morning gains. A pullback through the morning low $0.04957 would bring the first major support level at $0.0487 into play. Barring a crypto sell-off, however, we would expect NEM’s XEM to steer clear of sub-$0.049 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.0487

Major Resistance Level: $0.0505

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 – Support Levels in Play – 19/03/19

Key Highlights

  • NEM’s XEM fell by 1.63% on Monday. Reversing a 1.22% gain from Sunday, NEM’s XEM ended the day at $0.050514.
  • An early morning intraday high $0.05215 saw NEM’s XEM come up against the first major resistance level at $0.0522 before hitting reverse.
  • A late morning intraday low $0.04958 saw NEM’s XEM fall through the first major support level at $0.04990.
  • 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 1.63% on Monday. Reversing a 1.22% gain from Sunday, NEM’s XEM ended the day at $0.050514.

A bullish start to the day saw NEM’s XEM rally to an early morning intraday high $0.05215. The early move saw NEM’s XEM come up against the first major resistance level at $0.0522 before hitting reverse.

Pressured from the broader market, NEM’s XEM slid to a late morning intraday low $0.04958. The reversal saw NEM’s XEM fall through the first major support level at $0.0499 before steadying.

Sub-$0.050 support was called upon through the 2nd half of the day to limit the day’s losses. NEM’s XEM managed to end the day back at $0.050 levels in spite of the reversal.

Monday’s losses came off the back of an 11.5% rally in the week ending 17th March.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact in spite of 6 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 down by 0.41% to $0.05031. A mixed start to the day saw NEM’s XEM rise to a morning high $0.05070 before hitting reverse. Falling short of the first major resistance level at $0.0519, NEM’s XEM fell to a morning low $0.05023. NEM’s XEM managed to hold above the first major support level at $0.0493 early on in the day.

XEM/USD 19/03/19 Daily Chart

For the day ahead

A hold onto $0.050 levels through the morning would support a recovery of the early losses. A move back through the morning high $0.0507 would bring the first major resistance level at $0.0519 into play. Support from the broader market would give NEM’s XEM a run at the second major resistance level at $0.0533. Barring a crypto rally, Monday’s high $0.05215 would likely pin NEM’s XEM back from $0.053 levels in the event of a recovery.

Failure to hold onto $0.050 levels could see NEM’s XEM slide through the first major support level at $0.0493 before any recovery. Barring a crypto sell-off, we would expect NEM’s XEM to steer clear of the second major support level at $0.0482.

Looking at the Technical Indicators

Major Support Level: $0.0493

Major Resistance Level: $0.0519

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007