NEM Price Analysis: XEM breaks 3rd Resistance level Still in Bullish Zone

NEM has been in the bullish trend for the last three months and has not been able to get itself out of the red zone. In the last 24 hours, the coin has started to perform well and has broken its third resistance level. But the price of the coin is still trading in the bullish trend.

Price Value of the coin

The price value of the token at the time of the writing is standing at $0.040434 USD and 0.00000501 BTC with the change of 9.57% in 24 hours.

NEM Price Statistics

  • The market capitalization of the coin is revolving around $363,858,389 USD out of the total crypto market cap.
  • $39,361,155 USD is the 24 hour volume of the token.
  • Circulating supply of the coin is 8,999,999,999 XEM.

NEM Price comparison

The three-month price comparison chart of the coin shows that the token has been in the bearish trend. The trading point of the coin on 19th July 2019 was $0.069. From this point onward, the price of the token has been flowing in the downward trend and could not recover itself. The lowest trading value of the coin during these three months is $0.036 that is recorded on 17th Oct 2019. The price of the coin has decreased down in the duration of three months with the percentage of -51.82.

The three-month price comparison chart of the coin is presented below:

Source: Trading View

XEM Price Prediction

NEM has made an attempt to recover itself during the last 24 hours as the coin has lifted itself from the point of $0.036 and is trading above the pivot point that is $0.0372. The coin has also broken its third resistance level of $0.039 but its position is still standing in the bullish zone. On the basis of our analysis, we can say that the coin may be able to continue its upward flow.

Image created via Trading View

Conclusion

The overall performance of the coin has not been satisfactory according to the three-month price comparison chart of the token as shown above. But the last 24 hours have been in favor of the coin. The coin is making its effort to reach the bullish zone.

Hassan Mehmood

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has got a degree in journalism.

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