Increased activity and realization of opportunities. Such remarks are almost certainly made by cryptocurrency investors. Indeed, the XEM price began a downward trend even before it gained public acceptance in November. Buyers ceased upgrading local highs in September 2021, forming a clear fall channel. As a result, sellers were allowed to experiment with the $0.09 range. This range is the primary hope of buyers to halt the market’s slide and potential reversal. This range has allowed buyers to increase the XEM price by 170 percent since June 2021. However, based on the fluctuation of the XEM price in the $0.09 range, it appears that the price is no longer attractive to investors. Since the beginning of the trading week on 17 January, the XEM price has been trading within this range. If a rapid buyout and an aggressive reversal occurred in June 2021, we now expect a quiet consolidation near the range.
Additionally, trading volumes are not enhanced during the $0.09 test and remain unchanged. This statistic demonstrates unequivocally the lack of an aggressive buyer. Of course, there is a good chance that after a long period of stabilization in the $0.09-$0.14 region, buyers will regain their vigour and initiate a new growth wave. Even yet, the primary goal, at which it would be prudent to close their long holdings, is $0.22. Until the trading volume and volatility in the XEM market alter, it is premature to discuss the possibility of changing the record high.
Daily Technical Analysis Of XEM
On a regular basis, the sun’s beams penetrate the blackness of the world picture. By examining the chart, we can see that trade volumes in the XEM market have increased since 21 March. When compared to the trading volumes throughout the trend growth, they remain insignificant. However, in comparison to consolidation, we may observe an increase in local interest in the market. At the moment, the XEM price is hovering near the $0.125 local mark. If buyers are unable to reclaim control of this local support level in the next days, it will indicate their full weakness at local lows. And this reality can only mean one thing: the fall wave is not yet complete. Only after the $0.14 test can the chance of the price continuing to fall be changed from high to low. If local purchasers let the price of XEM to fall below $0.1, the initiative will be lost, and it is worthwhile to evaluate whether to preserve this coin.
The XEMBTC Price – Buyers Have Lost A Critical Support Level
Even the most robust liquidity zones are unable to halt the XEMBTC price decline. While the strong outflow of cryptocurrencies is not evident, dealers are able to reduce the price in a methodical manner. All of this occurs at a discount, indicating a lack of interest from a significant buyer. Until buyers regain control of the range 0.00000320 – purchasing this coin is risky. However, considering the nature of XEMBTC’s weekly price movement, the best-case scenario is worldwide consolidation.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
