NEM looks bullish as the currency pair reached our targets on Wednesday. The currency pair more than five percent in the past 24 hours. XEM/USD still moves along the ascending trend line.
The currency pair reached the resistance area at $0.2002 on Wednesday but failed to jump over it. NEM reached the ascending trend line later and jumped off it. We have a Doji candlestick pattern meaning bulls are able to drive the currency pair higher. The signal is confirmed by the trend line. This is the main scenario. The target for growth is at $0.2121.
As for bears, they have lost momentum, but their closest target is below the ascending trend line at the support area at $0.1873.
Check the full crypto analysis HERE>>>.
The currency pair reached the resistance area at $0.2002 on Wednesday but failed to jump over it. NEM reached the ascending trend line later and jumped off it. We have a Doji candlestick pattern meaning bulls are able to drive the currency pair higher. The signal is confirmed by the trend line. This is the main scenario. The target for growth is at $0.2121.
As for bears, they have lost momentum, but their closest target is below the ascending trend line at the support area at $0.1873.
Check the full crypto analysis HERE>>>.
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