benice_trader

Nemo Will there be a second life?

POLONIEX:XEMBTC   NEM / Bitcoin
Greetings from Benice team!


Today we are going to have a look at a coin which has recently received special attention. It is Nemo.

Some facts describing the NEMO project:
> It has an interesting POI (Proof-of-Importance) consensus. Anyone who installs a masternode can get a reward, although the account balance should not be less than 10,000 XEM coins.
> The network has 9 billion XEM , and this amount is final, there will be no more emissions.
> The coin had been in the TOP-10 at Coinmarketcap for a long time.
> Except for the pairs against bitcoin and dollar, it is traded against South Korean won.

Interestingly, the coin was at its minimum at 0.0000081 BTC on December 7, 2017, but just a month later, on January 7, 2018, it got to 0.00013669. Thus, its price increased 165 times. Prior to that, a similar growth rate to the same levels happened in May 2017.
Let us omit all the fundamental and news background and turn our attention to the chart.

As for the technical indicators, it has almost fallen to the bottom against South Korean won. This is the first buy signal.


Despite being traded in the red, the price against the dollar is holding. It is the second buy signal. Although still there is a potential for a drop: 0,027 is the first potential level, and 0,023 is the second one. The last level is 0.007. If it goes below this level, the coin will be unlikely to grow back and it will finally die.

The potential for a drop to 0.00000832 against bitcoin is the main target. The lower levels of 0.00000531 and 0.00000289 are bearish . You'd better enter the transaction when the level of 0.00001250 is broken out. In this case, your targets at the top would be 0.00001669 and 0.00001971. If it grows higher than 0.000023, then the target would be 0.00002785. If you trade at these levels, you'd better wait for a signal. (We are definitely going to publish it in the update of the review).

The coin cost 0.00010221 BTC at the moment of listing. If the growing market cycle is back, we will witness these values, because prior hypes were characterized by the conquest of the level.

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