REM (XEM) Coin Technical Analysis: Unveiling Price Trends

• XEM is trading at $0.02551589 with a dip of -4.63% in the last 24 hours.
• XEM live market cap is $230655375.
• XEM faced a massive decline of -11.19% in the last seven days.

By studying historical price data, XEM is in a downtrend currently. The price has declined by 11.85% in the last seven days, and XEM is underperforming. From its peak price of $1.87, it fell 98.63% in the previous five years and destroyed the investors’ wealth. As we know, the current market sentiments could be better, and no significant volume and buyers are available in the current market condition. It could be a reason for the underperformance of the coin. 

NEM (XEM) Price Analysis

EMA: XEM price is trading below the 200-day EMA and 50-day EMA on the daily time frame, which is a negative sign. Investors’ sentiments regarding XEM are negative and are on the selling side.

MACD: The indicator moving average convergence divergence is also on the bearish side. It gives a negative signal. The MACD line at -0.001986108 and the movement line at  -0.001557532  are below the zero line. It, in turn, suggests the MACD is in negative territory and is giving bearish signals.

RSI: The current value of RSI is 23.87 points, and the 14 SMA line is below the median line, around 32.95 points, showing bearish sentiment in the market.  The 14-day SMA line is under the median. It indicates a negative sign or bearish sentiment in the market as the price is currently at an oversold area.

Stochastic RSI: In the stochastic RSI, the %d line is at 5.57, and the %k line is at 24.37  points. The percentage d line shows that RSI is in the overbought area. The k percentage line shows negative sentiments regarding the price.

Volume Analysis: NEM (XEM) trading volume of 24 hours is $6894436, with a 12.10% increase in importance in the last 24 hours. Currently, the volume is low because of adverse market conditions and a lack of buyers.

Technical levels

Support – The current support level of XEM is $0.0237.

Resistance –The current Resistance level of the XEM is $0.036.       

Conclusion

XEM price presently shows a pessimistic scenario shortly. Major reliable indicators like EMA, RSI, and MACD give negative signals about the XEM coin. Investors need to show significant buying interest, which could be happening because of the consistent negative performance of the coin. If the coin breaks the current level, then the chances of the coin falling further may also increase. 

Disclaimer

The analysis given above is for informational and educational purposes only. You should not be taken it as financial, investment, or any other advice. Investing in or trading crypto assets is risky. Please consider your circumstances and risk profile before making any investment decisions.