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28 March 2024
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When Will NEM/USD Pair Make a Big Move? As CMP Near Critical Support Zone


  • NEM/USD Pair chart over the monthly time frame suggests a range-bound movement since the past few months.  
  • Over the medium-term time frame, the digital asset is trading sideways and now placed near the vital support or demand zone, with average volume action. 
  • The pair of XEM/BTC is trading at 0.000002772 BTC with a positive gain of +1.09%, and the ratio of XEM/ETH is CMP at 0.00003598 ETH with an intraday change of +0.65%. 
Chart of XEM/USD By Tradingview.com

NEM/USD Pair at the monthly chart is currently trading near the primary support zone, with below-average volume activity. Crypto asset is trading below all major moving averages, and now bulls are trying to make a grip over the counter. Although, the coin is stuck under the broad range of $0.8570 to $0.2470, acting as support and resistance, respectively. Moreover, if the NEM Bulls manage to hold the lower band of the monthly chart, it will create the next lap of a bullish move.

Volume over the monthly chart is lower and needs a sharp increment for an upcoming positive bounce back. Support on the lower side is $0.1040 and $0.0857, whereas resistance on the higher side is $0.1500 and $0.1990.  

NEM/USD Pair at the 4-hour time is trading sideways with lower volume

Chart of XEM/USD By Tradingview.com

NEM/USD Pair at the 4-hour time is trading sideways with lower volume action. The overall short-term trend is still sideways, and the technical parameters suggest the same. Moreover, the digital asset is presently consolidating with sideways technical parameters. Volume over the 4-hour time frame is still lower and recorded near the average volume line. NEM price is trading at $0.1190 with an intraday gain of +0.45%, and the volume to market cap ratio is 0.01635.  

Relative Strength Index (SIDEWAYS): NEM/USD Pair RSI is trading sideways, after a sharp movement from the lower levels. The coin is trading sideways over the weekly chart, and RSI is $56. 

Moving Average Convergence Divergence (NEUTRAL): The daily chart indicates a neutral trend at the 4-hour time frame. The buyer’s signal line (green) overlaps the seller’s line (red) with a hybrid crossover.    

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Support levels: $0.1040 and $0.0857

Resistance levels: $0.1500 and $0.1990.

DISCLAIMER

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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