Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Bob Mason
cryptocurrency Silver and gold Bitcoin,litecoin,ethereum on dollar banknote on golden table,Virtual Digital money on blockchain concept.financial business.crypto currency mining.

Key Highlights

  • NEM’s XEM fell by 2.61% on Thursday. Partially reversing a 3.46% gain from Wednesday, NEM’s XEM ended the day at $0.08895.
  • A late afternoon intraday high $0.09654 saw NEM’s XEM break through the first major resistance level at $0.0946.
  • A late intraday low $0.08776 saw NEM’s XEM test the first major support level at $0.0878.
  • The extended bearish trend formed at late April 2018’s swing hi $0.46547 remained intact. NEM’s XEM continued to fall well short of the 23.6% FIB Retracement Level of $0.1359 following 6th February’s new swing lo $0.03405.

How to Buy NEM’s XEM


NEM’s XEM Price Resistance

NEM’s XEM fell by 2.61% on Thursday. Partially reversing a 3.46% gain from Wednesday, NEM’s XEM ended the day at $0.08895.

Know where the Market is headed? Take advantage now with 

75% of retail CFD investors lose money

A relatively choppy start to the day saw NEM’s XEM fall to a morning low $0.08776 before making a move.

Finding support at the first major support level at $0.0878, NEM’s XEM bounced back to a late afternoon intraday high $0.09654.

The afternoon rally saw NEM’s XEM break through the first major resistance level at $0.0946 before taking a hit.

A broad-based crypto sell-off in the final hour of the day pulled NEM’s XEM into the red. NEM’s XEM slid to an intraday low $0.08776 before finding support. The first major support level at $0.0878 limited the downside for a 2nd time on the day.

The extended bearish trend, formed at late April 2018’s swing hi $0.46547, remained firmly intact.

Following a brief visit to $0.133 levels in the week of 13th May, a pullback to sub-$0.09 levels ensured that NEM’s XEM continued to fall short of the 23.6 FIB Retracement Level of $0.1359 following 6th February’s new swing lo $0.03405.

At the time of writing, NEM’s XEM was up by 1.16% to $0.08998. A bullish start to the day saw NEM’s XEM rise from a morning low $0.08794 to a high $0.09057 before easing back.

NEM’s XEM left the major support and resistance levels untested in spite of the early gains.

For the day ahead

A move through to $0.0915 levels would support a run at the first major resistance level at $0.0944 later in the day.

NEM’s XEM would need the support of the broader market, however, to break out from this morning’s high $0.09057.

In the event of a broad-based crypto rally, NEM’s XEM could visit $0.096 levels struck on Thursday before any pullback.

We would expect, however, for NEM’s XEM to come up short of the second major resistance level at $0.0999.

Failure to move through to $0.0915 levels could see NEM’s XEM hit reverse. A fall through the morning low $0.08794 would bring the first major support level at $0.0823 into play before any recovery.

Barring a crypto meltdown, NEM’s XEM should steer well clear of sub-$0.080 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.0856

Major Resistance Level: $0.944

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

Please let us know what you think in the comments below

Thanks, Bob

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.