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- The coin trading at the level of $0.1015 near its crucial support of $0.1011
- Cryptoasset down by -9.57% in the last 24-hours and drops over -17% in the last seven trading sessions
- The volume traded in the last 24-hours is $33,781,984 and the market cap stands at $914,124,464
NEM is trading at the level of $0.1015 near its support level of $0.1011 with the price correction of -9.57% in the last 24-hours and it looses -17% over the last seven days. After making the high of $0.1689 over the monthly chart, the coin is in a downtrend and makes the low of $0.1011, which acts as the support level for it. The level of $0.1011 acts as crucial support if it breaks we can see a free fall in the token.
The level of $0.0971 is next support for it and the level of $0.330 acts as strongest support over the yearly time frame. The resistance level for the coin is $0.1114 and the major resistance level is $0.1252.
Relative Strength Index (RSI) making the lower highs indicating the bearish momentum in the coin. As the result the coin gets corrected after testing the resistance level of $0.1240. The RSI trading at the level of 22.40 which is an overbought signal for the investors.
Commodity Channel Index (CCI) also gave bearish single over the indicator chart as trading at the lower levels and makes low highs trading at the -292 level which is bearish for the token.
Moving Average Convergence Divergence (MACD) of the cryptoasset was making the lower highs as the indication of the weakness over the token. The double negative crossover in the bearish zone indicates the fall in the coin if the support is broken of $0.1011.
Support level: $0.1011, $0.0971 and $0.3300
Resistance level: $0.1114 and $0.1252
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Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
