NEM (XEM/USD) - Waiting For The Big Move Upwards!
Remember what Ripple' did, it exploded and from a technical perspective, one possible reason was this that it was very far from the major down-trendline (not as other altcoins), so as NEM' right now, it is also far away from the major down-trendline and the possible pump may happen soon if the market starts to show some stability!
To be we have to break above the round number and we have to make a short-term higher high (the green box higher high confirmation box). Those first steps will guide us to the higher levels:
* Blue line around $0.116 - it is historically worked level and the price have made reversals and stops in this price level.
* Second one is around $0.14 - there we start to catch some monthly levels and we need pretty good power to push through because there comes into the play also the 200
* The final target would be the major down-trendline. (+100%)
To confirm bearishness and the area where You want to consider to sell Your NEM's would be the red box. If we get a candle close below the main counter and below the "nearest down-trendline" then it would be confirmation and NEM' would probably go and test the lower levels!
Hopefully, those levels and this analysis helped You out a little bit to confirm your own analysis and if You want to get deeper analysis and crypto-news then please visit our site, the link is on the profile!
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