FXEMPIRE
All
Corona Virus
Stay Safe, FollowGuidance
World
11,731,602Confirmed
540,105Deaths
6,623,119Recovered
Fetching Location Data…
Advertisement
Advertisement
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 2.03% on Sunday. Partially reversing an 11.17% rally from Saturday, NEM’s XEM ended the day at $0.04624.
  • A start of a day intraday high $0.04720 saw NEM’s XEM fall well short of the first major resistance level at $0.05220 before hitting reverse.
  • A late morning intraday low $0.04401 saw NEM’s XEM hold well above the first major support level at $0.0419.
  • The extended bearish trend formed at late April’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

Advertisement

NEM’s XEM Price Support

NEM’s XEM fell by 2.03% on Sunday. Partially reversing an 11.17% rally from Saturday, NEM’s XEM ended the day at $0.04624.

Bearish from the start of the day, NEM’s XEM fell from an intraday high $0.04720 to a late morning intraday low $0.044012.

The moves through the day saw NEM’s XEM come up short of the first major resistance level at $0.0522, whilst holding above the first major support level at $0.0419.

Finding support at $0.044 levels, NEM’s XEM recovered to $0.045 levels and a particularly range-bound 2nd half of the day.

For the week, NEM’s XEM gained 8.11%, with Saturday’s rally driving NEM’s XEM into the green.

The extended bearish trend, formed at late April’s swing hi $0.46547, remained firmly intact in spite of a 5th consecutive week in the green. 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.

At the time of writing, NEM’s XEM was up by 0.19% to $0.04633. NEM’s XEM rose from a morning low $0.04597 to a high $0.04651 before easing back. The day’s major support and resistance levels were left untested early on in the day.

For the day ahead

A hold onto $0.046 levels through the morning would support another run at the first major resistance level at $0.0476. NEM’s XEM would need support from the broader market, however, for a breakout from $0.047 levels. Barring a crypto-rally, we would expect the first major resistance levels and Sunday’s high $0.0472 to leave NEM’s XEM short of $0.050 levels on the day.

Failure to hold onto $0.046 levels could see NEM’s XEM give up the early morning gains. A fall through the morning low $0.04597 would bring the first major support level at $0.0444 into play. Sentiment across the broader market would need to materially deteriorate for NEM’s XEM to visit sub-$0.044 levels.

We would expect the second major support level at $0.0426 to be left untested in the event of a reversal.

Looking at the Technical Indicators

Major Support Level: $0.0444

Major Resistance Level: $0.0476

23.6% FIB Retracement Level: $0.1359

38.2% FIB Retracement Level: $0.1988

62% FIB Retracement Level: $0.3007

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

Latest Articles

See All

Expand Your Knowledge

See All

Trade With A Regulated Broker

  • Your capital is at risk