In this NEM technical analysis, we will examine the current price action, trading volume, key levels and indicators for XEM-USDT. NEM (XEM) is a decentralized blockchain platform that focuses on providing fast, secure, and scalable solutions for various industries such as supply chain management, voting systems, and digital identity verification. With its innovative technology and flexible architecture, NEM has gained significant attention from both investors and developers alike. Additionally, the cryptocurrency’s strong community support and active development have contributed to its growing popularity in recent years.
NEM Price Overview:
As of October 02, 2023, NEM is trading at approximately 0.02646 USDT. Let’s dive into the detailed price action for XEM-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.02724 |
| High (H) | 0.03 |
| Low (L) | 0.0264 |
| Close (C) | 0.02646 |
| Volume (C) | 132,347,729.00 |
- Open (O): The opening price for today’s trading session was approximately 0.02724 USDT.
- High (H): NEM reached a daily high of around 0.03 USDT.
- Low (L): The daily low for XEM-USDT was approximately 0.0264 USDT.
- Close (C): At the time of analysis, NEM is trading near its daily close of 0.02646 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -2.72% |
| 3D Change (%) | 0.76% |
| 7D Change (%) | 3.24% |
| 30D Change (%) | 9.61% |
| 90D Change (%) | -11.59% |
| YTD Change (%) | -7.48% |
Over the past three days, XEMUSDT has increased by approximately 0.76%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 3.24%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with XEMUSDT maintaining an upward trend of approximately 9.61%, despite intermittent fluctuations. Examining the last 90 days, XEMUSDT has witnessed substantial drop of approximately -11.59%, reflecting strong long-term confidence. Year-to-date, XEMUSDT has steadily decreased by around -7.48%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
NEM Live Chart:
You can access a live price chart for XEM-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.32435.
- Momentum score is 0.09611.
XEM USDT Technical Analysis
NEM Trading Volume:
The trading volume for NEM (XEM) over the past 24 hours has been significant, with approximately 132,347,729.00 USDT traded against XEM. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): XEM is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): NEM is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for XEM-USDT is currently in the neutral zone, around 50.64002. This suggests that NEM is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
NEM (XEM-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and significant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
