NEM Price Analysis: 14 November

[sneakyboi]

NEM Price Analysis: 14 November

NEM’s chart exhibited a bearish divergence and was likely to see a pullback.


Source: XEM/USD on TradingView

The past few weeks saw XEM shed value at a steady pace to find its support at $0.095. In early-November, the crypto-asset had surged on the charts alongside many of the market’s other altcoins.

However, in recent days, the price formed a series of higher highs while the RSI made lower highs. This bearish divergence between price and momentum showed that a drop was imminent for XEM.

A pullback to the support at $0.123 was possible, with $0.13 also a region of demand. These levels indicate a buying opportunity for traders. A rise to $0.14 followed by a drop was likely for XEM.


Learn more about the analysis here.