The NEM token is moving higher after a sharp move from a low level, and the token seeks to recover its short-term and medium-term moving averages from the 20, 50, and 100DMA lines.
Despite the strong rally at the low level, the crypto asset is still trading below the important 200-day DMA line, with volume lower on the monthly chart. The XEM/BTC pair is trading at 0.00000335 BTC with a gain of +1.42% and the XEM/ETH ratio is CMP at 0.00005105 ETH with an intraday change of +2.05%.
The NEM token seeks to rebuild the important 20, 50, 100, and 200-day moving averages in smaller volumes. Cryptocurrency assets on the monthly chart are trading below the main DMA line, consisting of the 200-day line, and are gradually approaching it. Meanwhile, despite the strong rally at the low level, the overall trend is still not in favor of a bull market. Resilience below all DMA 100 and 200 lines should encourage more bearishness to overwhelm the bulls. At the same time, the RSI on the chart is gaining strength from lower levels and is moving into overbought territory. The downside support is at $0.1520 and $0.1335, while the upward resistance is at $0.2051 and $0.2430.
Crypto assets are moving to higher levels in high and low patterns. In addition, the technical parameters of digital assets indicate a bullish scenario reaching overbought territory. Volume increases over 4 hours and jumps above the centerline. There are currently no new long positions offered, and higher positions should be watched with caution. NEM is trading at $0.18340 with a daily profit of +2.15% and a volume-to-market cap ratio of 0.04775.
The Rise of NEM Tokens
The RSI of the NEM token is trading below bullish momentum after a sharp rise from low levels. The coin is reaching overbought territory and caution for long positions points to the CMP at 71.
An entire team of experts and inspirations are working hard to make the NEM mechanism a success. The NEM team consists of CEO David Shaw, CFO Ian Wilson, COO David Mansell, and CIO Dave Hodgson. A strong team of management experts and software engineers makes an unmatched contribution to business development as well as community engagement.
NEM exists to foster hope. This ensures the development of the entire community and contributes to the development of the blockchain space. The NEM protocol is recommended at all levels worldwide to improve use cases. Some of NEM’s important partnerships are with the environmental activist group, the American Rainforest Foundation. Through the collaboration, the NEM community can now make donations to protect the rainforest using XEM, the original NIS1 token. Another important step for NEM is to work with digital markets to develop decentralized digital assets. It provides users with exciting new opportunities in the global digital securities market. NEM’s proprietary token, referred to as XEM, operates on a basic principle. It is light and inexpensive, safe and reliable, and it works in an integrated process.
Moreover, the token has been showing a rapid price increase on the exchange from the moment it started to present. When it comes to cryptocurrency, it is not surprising that prices are always driven by various factors such as market movements, volume, technology, etc. Therefore, NEM’s windfall expectations focus on the overall decentralized application market. The trend appears to pick up sharply in early 2021 when NEM prices start to return to $0.205. The new partnership will focus on the price of NEM, making it an investment hub and a socially important cryptocurrency.
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