Hello, dear members of LeoFinance!
Today I want to outline something interesting on the price chart of NEM.
In the daily time frame (1D), XEM/USD has received support from the neckline of the Triple Bottom (common trend reversal pattern) and has rebounded:
Right now, XEM/USD is approaching the 360-day Moving Average (MA 360). In my view, if MA 360 provides support for the price of NEM as well then this may trigger the uptrend resumption.
To be continued ...
As of the time of writing, one NEM costs $0.1881 on the Binance crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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