Good afternoon to all steemians.
This afternoon we analyze the criptocurrency NEM, this token presented a good recovery in early and mid-April, at the moment it has a value of 3657 satoshis, it is in correction touching an important level of fibonachi.
In the 4 hour chart we see that we are touching the 61.8% level of the fibo and it is also close to the value of a previous minimum.
By looking at the indicators the stochastic is oversold and the rsi is at level 34.6, a good move would be to wait a little closer to the previous minimum and that the rsi is also oversold.
In the 1 hour chart we observe how it slightly breaks the 61.8% level of the fibo.
The stochastic is oversold and the rsi is at level 35.7, we could expect that the rsi is also oversold and enter into a purchase
For now it's all friends later I'll be sharing my analyzes and market appreciations, cryptos, ics and more.
Legal Disclaimer: All my analysis are just showing possibile scenarios and not predicting the future. Technical analysys gives wrong signals very often and it just give clues to reason on the future development of a financial product. The price move often in a unpredictable way. Never invest basing only on my predictions which can be wrong and always use a correct money management. I do it for personal interest for free, I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind.