NEM XEM Technical Analysis: Poised To Go Higher
NEM charts look set up to shoot higher on a technical breakout! NEM's XEM coin tested it's historical all-time high resistance price of $0.30 in mid August and finally broke through at the end of the month. XEM has since retraced back to its 23.6% Fibonacci level, also at $0.30, which is calculated off the previous lows and tested support price of $0.10 earlier this summer.
Following market turmoil, ICO bans and broad Alt-coin selloffs this past week, XEM found support from its recent upward trend and is looking poised to breakout again to retest the highs near $36.
NEM is an interesting project has been growing rapidly in popularity, particularly with it's multi-signature contract capability and proof of importance "harvesting" method of delegating coin for rewards.
Are you a holder or user of NEM? What are your thoughts and where do you think its headed?
The Blockchain is a great technology and for the time being we can expect that emergent nature of the community will overcome all the bans, governments and restrictions and to continuously change technology on its way.
Having said this it's very difficult to bet on the right crypto, which one will be the one that will solve the specific issue of the moment?
My suggestion would be to:
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I would be grateful to anyone who wants to take a look and let me know what he/she thinks! Thanks
Great advice
Keep up the good work, thanks for the info!
NEM seems to move very slow. But that is just building a ramp for a shot higher at some point. The devs seem more busy with building the business than considering what the price does. I like this approach: long term Hold.
It's an interesting platform, can't wait to see how it grows.
I am newbie was confused between NEM and XEM initially. Just bought 60 XEM, thanks for the analysis!
Im still trying to wrap my head around NEM, is it just another altcoin???