BITTREX:XEMUSD   NEM / US Dollar (calculated by TradingView)
99 views
0
99 0
Hey fellas, hope you are doing well, here is my review on xem/usd.

We have been free falling for more then 2 months now! I think we touched the bottom and won't go below 0.2 USD. We are moving inside a descending channel , which indicates a bearish trend . No doubt that we are in a hard bearish trend with no signals of reversing to bullish trend any time soon. Until the brighter tomorrow, lets set some targets! (I formed this channel on weekly chart)

OPTION 1 daily chart
We could see bigger bearish move and test long established trend line/support (ORANGE line) at the price around 0.2 usd. From there on we can move towards TARGET 1 (blue line) and TARGET 2 (green line) and eventually test the upper line of the channel. I would spread my sells between tg1 and tg2. Here we are looking at 40-70% move.

OPTION 2 daily chart
We move sideways for a bit and then shoot to target 2 (green line). Here we are looking at 20% move.

LONG TERM
On Weekly chart we can see RSI testing support. We can see a bounce from that level and test the upper line of a channel.



Wish you all good trading, do your own research before make any calls.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out