• Meanwhile,  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

Yesterday, July 21,  the price of NEM was in a range bound move  below the 12-day EMA and the 26-day EMA. On July 11, the bears had already broken the lower price range and was on a downtrend. On July 16, the downward trend was corrected  at the $0.06000 price level. The $0.06000 price level was well supported as the bulls made an upward move to break the EMAs.

Meanwhile,  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. Nevertheless, the price of NEM is in the oversold region of the daily Stochastic but above 20% range. This indicates that price is in a bullish momentum and a buy signal.

XEM/USD Short-term Trend: Bearsh

On the 1-hour chart, the price of NEM is in a bearish trend. The 12-day EMA  and the 26-day EMA are trending horizontally . Meanwhile, the stochastic is in the oversold region below the 20% 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.