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XEMBTC

NEM found a bottom?Coin of the day is NEM. Nem was trading in the downtrend for recent time, and it seems that the coin has finally found the bottom at the 0.00003 level. Dive to the 0.00003 level still fit in the global uptrend, so it could be a good place to buy. From the bulls: XEMBTC broke above the Bearish Trend Line and pushed upwards from the 0.00003 support. Growing volumes support the bullish tendency. Potential profit if the bullish phase starts now is very high. From the bears: In comparison to the massive and consistent downtrend, the turnaround pattern should be much larger and significant. If this is the beginning of such construction, then the breaking of the 0.00005 resistance and 100-days EMA should prove it. Before these signs - the turnaround scenario sounds week.
by DestinationMoonCrypto
XEMBTC has limited bearish potential:bullish biasPrice action in XEMBTC (NEM) from the May 22, 2017 high of ~0.00013911 down to a low of ~ 0.00001128 (on Dec. 8, 2017) is corrective i.e. a 3 wave move in this case that I have labelled as an A-B-C Elliott wave structure. This implies either at least another 3 wave move back up or the resumption of a bullish impulsive wave. Price swing upwards from the Dec. 8, 2017 low up to a high of ~0.00010264 on Jan. 4 2018 was rather another correction (3 wave move), and not impulse move. The current price swing downwards from the Jan. 4 2018 high is either wave (C) (to be labelled capital letter and in pink) or wave B ( capital letter and in red). Either scenario implies the resumption of at least another 3 wave move back upwards or impulsive move. Since both scenarios point upwards(bullish), XEMBTC should be considered for a long position (bullish). Support 1 (between 0.00003263 and 0.00002451) is a likely target for the current downswing in price and if price breaks through Support 1, Support2 (between 0.00001244 and 0.00000235) would likely offer a floor for XEMBTC. Assuming a scenario where price continues to sell off and reaches Support 1, buying a break out after consolidation at Support 1 (e.g. at ~0.00003271 and placing the stop loss below Support 1 e.g. 0.00002447 would give a risk = 0.00003271- 0.00002447 = 0.00000824 Reward = 0.00006858 (Bottom range of Target 1) - 0.00003271 = 0.00003587 Risk/Reward ratio = 0.00003587/0.00000824 = ~4.4:1. Use of a break out above Support 1 as explained above for example and using the bottom range of target area 2 to take profit will give a risk/reward of ~7.3:1 . Use of the bottom range of target 3 to take profit gives a risk/reward ratio of ~10.4:1 Range for Target 1: 0.00006858 and 0.00007573 Range for Target 2: 0.00009321 and 0.00010503 Range for Target 3: 0.00011808 and 0.00013852
by Coin_Analyst
Does XEM pull back or not?1-Week Chart: The weekly XEM chart shows more closely the 50-week moving average are the primary resistance levels and 100EMA is strong support for this bear market. Earlier in the Febuary the XEM fell through support at the 5k level down to the 3.6k area. I think the XEM price can reverse course and push through the 5k level and then create the small descending trend line. There is resistance at the 5k and the 5.5k areas that need to be overcome. From the chart, it looks like the price will continue to fall to test 3k, possibly the 2.5k levels and the 100-week moving average as support. It will be a number of weeks before we see a test of the 20/50-week moving average. To accomplish this, volume needs to be above average. RSI is below 50 level. If it can rise above that level and stay there, then it will be a sign the uptrend. The MACD turned down through the nine-week moving average, a sell sign and it is still trending down, which is a negative sign. 3-Day Chart: I expect we might be seeing the formation of a minor support level at the 3.6k area. Volume remains at low. The indicators are alomost at low points where they are more likely to move up giving a buy signal. Right now the RSI is below 50, a sell sign. The MACD crossed through centerline and it turned down through its 9-day moving average giving a sell sign. While volume is below average, the market need a spike to start uptrend. 1-Day Chart: The daily price chart is a bit complicated as the RSI says the market is oversold. There is resistance at the 5.5k level and then the 20/50/100-day EMA line. Right now, volume has been trailing off, which is not a good sign for the market. Watch for above average buying volume as a sign the XEM will change the trend. Otherwise, we should expect a pull back. RSI is below 30 indicating that the coin is on the oversold territory at least 8 days. The MACD is at a low point where it normally turns up. This means we are more likely to see a spike in the near future. These are the signs that the market is oversold, yet it can continue to fall for a while. The XEM price is starting to set up a basing pattern, which is necessary before it can start a new bull market. Horizontal support at the lows and horizontal resistance at the highs form a basing pattern. This is a positive longer term and creates buying opportunities on price dips. 4-Hour Chart: The 4-Hour chart shows the pause at the 3.6k level that began in late February. The break through the 3.5k level will indicate the downward continue. The next support is at the 3.3k level, which can being tested. Average volume has been declining,this is a normal situation before the price can start rise up. RSI is below 50 indicating the downtrend. The MACD is turning up to the zero level, that can give us a buy sign. The indicators are telling us the downtrend remains in tact,though they are nearing low levels where they normally signal a uptrend. It will be important to monitor the average volume, MACD and RSI, to gain an understanding of how the trend proceeds from here. Conclusion: I want to discuss the recent news about "Coincheck NEM Hack". At first, every exchanges have closed the XEM wallet, this is mean that hackers cant sell their NEM directly at exchange to destroy the price. Secondly, if the wallet closed with mean the other XEM holders cant deposit their digital asset to exchange until the situation with the stolen XEM is not solved. So we have a limited supply of XEM at exchanges which can be used to manipulate the price on the future news. The hack is allways bad for digital assets because this is a cause of stress for investors and holders. I hope the XEM dev team will find a way to talk with hackers to back stolen funds. For me strong signs are 100EMA support at 1W TF and Oversold at 1-Day chart.
by LudwigStirner
2
XEM/BTC Awaking Time?Hi everyone. I've been following this coin on it's strong downtrend and I think XEM is going jump. Right now (4H): XEM is jumping on 0.786 Fibonacci level, the price has broken the downtrend line, MACD shows an uptrend and RSI is reaching 50 on 4H chart. AND (1D): RSI is in oversale level, MACD is close to cross lines on 1D chart, so...I'm awating a big jump on price. "PLUS" I read few days ago, something like this: "...a bullish price can be manteined if RSI is over 40 level". Checking 1W chart, RSI is over 40. Does it true? I'm new on this... I would like know your opinion to make this chart helpful.
Long
by Ziccozzis
XEM bullish flagsMACD is crossing and approaching 0, Stochastic RSI = oversold, reversal. TP 8000 sat There is some FUD in the market due to hacker trying to sell at the exchanges(now tried to sell on reddit, be aware). However, I've been watching a 50 BTC buy wall( 22 BTC already filled) on Bittrex since afternoon for 6000 sat . For current volumes on Bittrex this accounts for 25% of the daily trade. This guy knows something? Bullish signal? Or is it related to recent hacker issue? For me still this looks like a good entry with 1st bullish flag affirmed.
Long
by Dmitrii_pp
XEM Will Enter Oversold TerritoryThe Relative Strength Indicator is 32 that is near the oversold area, indicating a downtrend is in place. However, it should be noted that the short term price increase for XEM after the coin touch the oversold zone is not what will drives the price. The Moving Average convergence Divergence is also below zero, we have entered to the strong bear market. The analysis of the daily trends of the XEM chart shows we remain in a bear market with key resistance at the 100-Day exponential moving average and the support of 200-Day EMA. In addition, in the range from 5k to 6.5k Sats was a large volume trade which indicates that this level can become a resistance or act as the support.
by LudwigStirner
2