NEM Price Prediction Today: Daily (XEM) Value Forecast – June 17
- The price of NEM is trading between the levels of $0.7000 and $0.1000.
- If the bulls defend the 0.382 Fib.retracement level, the XEM market would rise.
XEM /USD Medium-term Trend: Ranging
- Resistance Levels: $0.1000, $0.1100, $0.1200
- Support Levels: $0.0800, $0.0700, $0.0600
Since on May 16, the price of NEM was in a sideways trend. The price of NEM is trading between the levels of $0.7000 and $0.1000. The 12-day EMA and the 26-day EMA are trending horizontally along with small body candlesticks. 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. The crypto’s price has choppy price action. The resistance and support levels of price cannot be ascertained. The lower and upper price range has only be tested once. 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: 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 pointing northward. From the Fibonacci tool, the XEM market is in the continuation zone of 0.236 and 0.382 Fib. retracement levels.
If the bulls defend the 0.382 Fib.retracement level, the XEM market would rise. 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.
Live NEM (XEM) Price:
1 XEM/USD =$0.7981 change ~ 12.57%
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