NEM Price Analysis: XEM Price May Give Upto 50%

• XEM price slips below $0.60 to $0.38 on Saturday’s trading session
• The 24-hour volume in XEM is at $1,204,137,271 with a 24.89% increase.
• The XEM/BTC pair was trading at 0.000006543 BTC with a loss of 14.82%

The 4-hour technical chart of XEM price projects a downtrend. According to pivot points, XEM’s critical support level is placed at $0.32. Whereas if it moves up, the key resistance level to watch is $0.60. While diving into the weekly chart of a 4-hour time-frame, it completes a pin bar candlestick pattern. which represents a sharp reversal and rejection of price.

SMA-50, 100 & 200 acts as another strong support in the coin. SMA-50 (purple) has stuck to SMA-100 (white), which projects a bearish trend. The price is way below the SMA-200 (red). Investors may not perceive any crossover in the chart, the trend remains unclear for now.

RSI indicator (OVERSOLD), with a value of 28, indicates an oversold situation in the coin. Moreover, Investors can see an upward slope in the index, it may soar in future trading sessions.

Great Time to Invest in XEM

XEM price traded at $0.38 with a loss of 17% in the last 24-hour and 49.53% down in the weekly time-frame. It is trading at the lowest levels so it is a great time to buy on dips. In contrast, the market capitalization stands at $3.456 billion.  Technically, investors may not perceive any crossover in SMA. Moreover, the movement of price can be towards the resistance of $0.60.

Resistance: $0.60

Support: $0.32

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Nikhil Ingole

Mr, Nikhil Ingole is a Chief Editor at The Coin Republic with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain’s future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market’s informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.