NEM has lost more than four percent in the past 24 hours, but the currency pair still remain neutral in general as bulls and bears have found balance currently and hesitate to make any further steps without new fundamental drivers.
When we look closer at the Hourly chart we can see that the currency pair stays within the range currently. XEM/USD has tested the resistance area at $0.2002 on Tuesday but failed to breach it and retreated. The possible ways for the currency pair are the following:
1. Red scenario (bearish). The currency pair will break through the support area at $0.1873 and move lower searching for new targets below.
2. Orange scenario (neutral). XEM/USD will stay within the range between the resistance area at $0.2002 and the support area at $0.1873.
3. Green scenario (bullish). The currency pair will break through the resistance area at $0.2002 and move higher targeting the next resistance at $0.2121.
Check the full crypto analysis HERE>>>.
When we look closer at the Hourly chart we can see that the currency pair stays within the range currently. XEM/USD has tested the resistance area at $0.2002 on Tuesday but failed to breach it and retreated. The possible ways for the currency pair are the following:
1. Red scenario (bearish). The currency pair will break through the support area at $0.1873 and move lower searching for new targets below.
2. Orange scenario (neutral). XEM/USD will stay within the range between the resistance area at $0.2002 and the support area at $0.1873.
3. Green scenario (bullish). The currency pair will break through the resistance area at $0.2002 and move higher targeting the next resistance at $0.2121.
Check the full crypto analysis HERE>>>.
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