• The price of NEM is trading between the levels of $0.7000 and $0.1000. Today, the bulls may likely test the upper price .
• However, the bulls pulled back price to break the EMAs.

XEM /USD Medium-term Trend: Ranging

• Resistance Levels: $0.1000, $0.1100, $0.1200
• Support Levels: $0.0800, $0.0700, $0.0600

In the previous week the price of NEM had been in a sideways trend. There had been no significant price change. The moving averages were trending horizontally in between the price range. The price of NEM is trading between the levels of $0.7000 and $0.1000. Today, the bulls may likely test the upper price .

Nevertheless, the small body candlesticks like the Doji and spinning tops are responsible for the range bound move. The candlesticks describe the indecision between the buyers and sellers at the current market price. These Doji and Spinning tops contribute to the consolidation of price action. The crypto has choppy price action. Nevertheless, the price of NEM is in the oversold region of the daily Stochastic but above 40% range. This indicates that price is in a bullish momentum and a buy signal.

XEM/USD Short-term Trend: Ranging

On the 1-hour chart, the price of NEM is in a sideways trend zone. The moving averages are sloping horizontally. On June 23, the bears broke the 12-day EMA and the 26-day EMA to the $0.0890 price level.

However, the bulls pulled back price to break the EMAs. Meanwhile, the stochastic is in the overbought region above the 60% range. This indicates that price is in a bullish momentum and a buy signal.

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