NEM Price Prediction Today: Daily (XEM) Value Forecast – July 29
- The price of NEM is trading between the levels of $0.8000 and $0.1000.
- On the upside, if the bulls break above the EMAs, the crypto's price will rise and retest the $0.1000 price level.
XEM /USD Medium-term Trend: Ranging
- Resistance Levels: $0.1000, $0.1100, $0.1200
- Support Levels: $0.0800, $0.0700, $0.0600
Last week the price of NEM was in a range bound move below the 12-day EMA and the 26-day EMA.The bulls were unable to break above the EMAs. The price of NEM is trading between the levels of $0.8000 and $0.1000. On the upside, if the bulls break above the EMAs, the crypto's price will rise and retest the $0.1000 price level.
On the other hand, the crypto's price will continue its range bound move below the EMAs, if the bulls fails to break above the EMAs.The crypto's price is characterised by small body candlesticks. 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. The support and resistance levels are not determinable. 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: Ranging
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 above the 80% range. This indicates that price is in a bullish momentum and a buy signal.
Live NEM (XEM) Price:
1 XEM/USD =$0.3547 change ~ 2.60%
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