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- XEM price bounced back from $0.32 to $0.38 on Tuesday’s trading session
- The 24-hour volume in XEM is at $828,293,201 with a 143.01% increase.
- The XEM/BTC pair was trading at 0.000006921 BTC with a gain of 24.50%
The 4-hour technical chart of XEM projects an uptrend. 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 bearish hammer candlestick pattern. The hammer candlestick is found at the bottom of an uptrend and signals a potential (bearish) reversal in the market.
SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) intersects below SMA-50 (white), which projects a bearish trend. The price is way below the SMA-100 (red). Investors may not perceive any positive crossover on the chart, the trend remains bearish for now.
RSI indicator (BEARISH), with a value of 41, indicates a sell signal in the coin. Moreover, Investors can see an upward slope in the index from 21 to 41, it may soar in future trading sessions bringing the asset’s price to the neutral zone.
Symbol Launch Has Been Delayed
An official tweet from the NEM group on Twitter posted that Symbol launch has been delayed due to an anomaly identified in the deployment step. The team is investigating the root cause of the problems.
XEM Price Pullback From The Support of $0.32
XEM price traded at $0.38 with a gain of 16% in the last 24-hour and 45.20% down in the weekly time-frame. In contrast, the market capitalization stands at $3.247 billion. Technically, investors may perceive a negative crossover in SMA. Moreover, the movement of price can be towards the resistance of $0.60 after a pullback from $0.32, Also the Symbol launch may push the price further.
Resistance: $0.60
Support: $0.32
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.
