Just a few hours ago NEM coin has been added to Binance and XEM/BNB, XEM/BTC, and XEM/ETH trading pairs are now available for trading. This news certainly can add trading volume for this coin and potentially boost the upside momentum that seems already started.
After a strong correction for the 13.5k satoshis high, currently, XEM/BTC is trading at 3750 satoshis, which could seem an attractive and cheap price for investors. Technically, XEM/BTC trend remains upwards as the 227.2% Fibonacci channel trendline has been broken on a daily chart. The two Fibs applied to the corrective waves after the downtrend trendline breakout point to the 21k satoshis as an upside target, which is almost 500% potential gain. While NEM is trading above 2440 satoshis support the uptrend is likely to begin.
However, break and close below the support could send price back to 800 satoshis and/or extend the consolidation period prior to the uptrend.
After a strong correction for the 13.5k satoshis high, currently, XEM/BTC is trading at 3750 satoshis, which could seem an attractive and cheap price for investors. Technically, XEM/BTC trend remains upwards as the 227.2% Fibonacci channel trendline has been broken on a daily chart. The two Fibs applied to the corrective waves after the downtrend trendline breakout point to the 21k satoshis as an upside target, which is almost 500% potential gain. While NEM is trading above 2440 satoshis support the uptrend is likely to begin.
However, break and close below the support could send price back to 800 satoshis and/or extend the consolidation period prior to the uptrend.
Comment:
NEM getting ready to shoot