After taking huge losses since its January 2018 all-time high, the price sank to the $0.10 mark, where it stagnated and traded sideways throughout most of August through October — validating the level as a strong support and potential resistance.
Since Bitcoin’s most recent decline, however, we have seen NEM continue to sink below the support — unable to escape the massive descending trend line.
One should be extra cautious in entering a position in the current bear market. Below the $0.10 support, there is not much in the way of a safety net, as the next rung down could put the price in the area of just $0.01.
If NEM is able to regain stable ground above the $0.10 mark and establish itself outside of a descending trend, there is a chance of attacking the $0.18 to $0.20 level.
Read the full analysis at BeInCrypto: beincrypto.com/nem-x...-ten-cent-time-bomb/
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