CryptoDonkie

NEM position trade possibilties

HUOBI:XEMUSDT   NEM / Tether USD

Good day fellow traders,

In the upcoming days ill keep my eyes on Nem for possible upwards moves.

The broader trend is narrowing atm, which can indicate a possible reversal pattern in the making. We are on the 100 EMA and 50 SMA which joined up.
Close to 0 lines in MACD and VFI volume ready for expansion growth > momentum. Keep a sharp eye on the daily candle patterns, we wanna see something in the range of the predicted candles on the chart.
We still need confirmation by breaking resistance levels at $0,43-$0,47. But ill rather look for a position below that $0,27-$0,33 followed by a fairly sharp stop loss. BTC will help make this move possible or impossible!!

Nems' position is in "large", in a better spot than a lot of other coins. It tested the low bottom of the larger pattern. Touched the long-term trendline originated on 11-01-2021.

Entry on the swing low, breakout, it all depends where you are comfortable. Be aware of the volatility that can occur at any moment.

Good luck to you all

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