NEM charts look set up to shoot higher on a technical breakout! NEM's XEM coin tested it's historical all-time high resistance price of $0.30 in mid August and finally broke through at the end of the month. XEM has since retraced back to its 23.6% Fibonacci level, also at $0.30, which is calculated off the previous lows and tested support price of $0.10 earlier this summer.
Following market turmoil, ICO bans and broad Alt-coin selloffs this past week, XEM found support from its recent upward trend and is looking poised to breakout again to retest the highs near $36.
NEM is an interesting project has been growing rapidly in popularity, particularly with it's multi-signature contract capability and proof of importance "harvesting" method of delegating coin for rewards.
Are you a holder or user of NEM? What are your thoughts and where do you think its headed?