XEM/USD: Top Crypto Performer

XEM/USD

NEM and three other blockchain firms have come together to form a lobbying group in Europe to “create a unified voice for the blockchain industry at the European level.” NEM has been one of the stronger performers in this fall. Let’s see if it is showing any bottoming formations.

XEM/USD Trading picture chart

While most other top digital currencies are making new year-to-date lows, the XEM/USD pair has not declined much in the past few days. Even after breaking down of the range $0.13125258-$0.07790717, the bears have not been able to push prices lower. This suggests demand on dips.

If the price climbs back into the range and sustains it for three days, it will confirm that the markets have rejected the lower levels. Traders can initiate long positions above the 50-day SMA and expect a move back towards the top of the range.

On the other hand, if the digital currency turns down from the 20-day EMA and breaks down of $0.06155741, the fall can extend to $0.05. We expect a decisive breakout or breakdown within the next few days.

credits:https://cointelegraph.com/news/top-5-crypto-performers-overview-bsv-xem-trx-bnb-btc