XEM/USD Buy Opportunity
Updated
Here we are analyzing XEM/USD on the 1D chart.
NEM is currently trading around $ 0.54. The one-year forecast of the cryptocurrency is around US$ 0.86.
I suspect that XEM/USD will likely retest this side-wards support level before an up move. If price breaks below this level, there could be a retest of the lower horizontal support at $0.32 in the longer term before the upside. I hope we do not see the second scenario.
This means, from the present prices it is still offering a decent upside of 60% in this very calendar year. In the pending 10 months, the return of 60% is good enough. When you look at the five-year forecast of the cryptocurrency, it is around $ 1.65. Thus over a period of 5 years as well, it provides plenty of upside.
While on the whole, these predictions might look a little bleak but when you take into account the strong application of the platform which it is developing, it would provide you with good returns and stability in your portfolio. Also, it is a good diversification option considering the fact that the platform is finding increasing takers.
The last 24-hour trading volume is currently about $93,416,200 with a circulating supply of 8,999,999,999 XEM out of a max of 8,999,999,999 XEM .
Dont forget to follow if you want to be informed ;)
NEM is currently trading around $ 0.54. The one-year forecast of the cryptocurrency is around US$ 0.86.
I suspect that XEM/USD will likely retest this side-wards support level before an up move. If price breaks below this level, there could be a retest of the lower horizontal support at $0.32 in the longer term before the upside. I hope we do not see the second scenario.
This means, from the present prices it is still offering a decent upside of 60% in this very calendar year. In the pending 10 months, the return of 60% is good enough. When you look at the five-year forecast of the cryptocurrency, it is around $ 1.65. Thus over a period of 5 years as well, it provides plenty of upside.
While on the whole, these predictions might look a little bleak but when you take into account the strong application of the platform which it is developing, it would provide you with good returns and stability in your portfolio. Also, it is a good diversification option considering the fact that the platform is finding increasing takers.
The last 24-hour trading volume is currently about $93,416,200 with a circulating supply of 8,999,999,999 XEM out of a max of 8,999,999,999 XEM .
Dont forget to follow if you want to be informed ;)
Note
As of right now, the NEM price is stuck at $0.43 and future losses are on the horizon as of right now. With all cryptocurrency markets losing at least 7% in value over the past 24 hours, it is only normal the NEM price follows this downward trend. Unfortunately, that also means this attacking suffers from a major 13.13% setback in the past 24 hours, and that situation will not improve anytime soon either.NEM isn’t losing value just because the Bitcoin price is tanking right now either.
With 31.38m in 24-hour trading volume for NEM, it has become evident this altcoin is not in high demand as of right now.
Disclaimer
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