NEM, a peer-to-peer cryptocurrency, and blockchain platform having been ranked 15 by market cap at the level of $743,854,601 with traded price $0.082651 at 11:14 UTC on 22nd November 2018 by CoinMarketCap has experienced the volatility in value likewise other cryptocurrencies in the market.
We can observe from the aforesaid analytics that the NEM/USD pair having attained its value at the highest peak of $0.26782415 on 2nd June though below 20 Days Ema. Thereafter it declined and rested at the support of $0.1500. Thereafter it started attaining the momentum and reached above the 20 days EMA at the level of $0.19355 on18th July. Since the last quarter, the entire scenario which can be observed by the downtrend line of the descending triangle as visualized through the brown line from the above chart. Additionally, the value traded at the level of $0.12578 on 4th September was below EMA created a range until the 14th November as estimated from the aforesaid chart. The $0.12 support level was quite congenial from 4th September onwards to 12th November as analyzed from the aforesaid pink trend lines. When compare with YTD value from the all-time high in June, the NEM/USD pair has declined by 208%. From the analytics above, it’s cleared that the supported level $0.08 was estimated, and the next support can be at the level of $0.05.
Let us talk about the RSI that observed oversold
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