The currency pair added few percent in the past 24 hours. NEM had a huge downtrend last week and seems to stop it for a correction. XEM/USD tests the red descending trend line in the moment of writing. If successful, bulls will be able to change the situation.
Let’s have a closer look at the situation on the Hourly chart. The currency pair has tested the support area at $0.1873 on Wednesday and jumped off it. XEM/USD ran higher and reached $0.2002 later. The currency pair fluctuates close to this resistance area currently. The possible ways for XEM/USD are the following:
1. Red scenario (bearish). The currency pair will break through $0.1873 and move lower.
2. Orange scenario (neutral). XEM/USD will stay within the current range limited by the support area at $0.1873 and the resistance area at $0.2002.
3. Green scenario (bullish). NEM will break through the resistance area at $0.2002 and run higher, targeting the next resistance at $0.2121.
Check the full crypto analysis HERE>>>.
Let’s have a closer look at the situation on the Hourly chart. The currency pair has tested the support area at $0.1873 on Wednesday and jumped off it. XEM/USD ran higher and reached $0.2002 later. The currency pair fluctuates close to this resistance area currently. The possible ways for XEM/USD are the following:
1. Red scenario (bearish). The currency pair will break through $0.1873 and move lower.
2. Orange scenario (neutral). XEM/USD will stay within the current range limited by the support area at $0.1873 and the resistance area at $0.2002.
3. Green scenario (bullish). NEM will break through the resistance area at $0.2002 and run higher, targeting the next resistance at $0.2121.
Check the full crypto analysis HERE>>>.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.