• The price of NEM is trading between the levels of $0.8000 and $0.1000.
• These Doji and Spinning tops contribute to the consolidation of price action.

XEM /USD Medium-term Trend: Ranging

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

The XEM/USD pair had continued to trade in a sideways trend. The price of NEM is trading between the levels of $0.8000 and $0.1000. The 12-day EMA and 26-day EMA were trending horizontally in between the price range. The presence of small body candlesticks outnumbered the larger ones. 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 also has choppy price action. Traders are to look out for buy setups in order to initiate long trades in anticipation of a bullish trend. Nevertheless, the price of NEM is in the oversold region  of the daily Stochastic but below 20% range. This indicates that price is in a bearish  momentum and a sell signal.

XEM/USD Short-term Trend: Bullish

On the 1-hour chart, the price of NEM is in a bullish trend zone. The 12-day EMA and the 26-day EMA are trending northward. The price of NEM is facing resistance at the $0.0940 price level .On June 8 and 9, the bulls tested the $0.09400 resistance level and were resisted’
Meanwhile, the stochastic is in the overbought region below  the 60% range. This indicates that price is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.