- Coincheck resumes NEM (XEM) trading alongside Ethereum (ETH) and Lisk (LSK).
- NEM reacts with an incredible upswing testing $0.13 to the upside.
- A triangle breakout is around the corner: NEM price could hit $0.15.
NEM is among the biggest gainers in the crypto market on Tuesday following the news that the Japan-based Coincheck exchange has restarted trading the asset. Coincheck recently opened its doors again since the devastating hack attack in January this year.
The exchange fell victim to hackers who made away with at least $530 million in NEM coins. In the past several months Coincheck has battled to regain its ground. Besides, reports show that the exchange has now become part of the Japan Security and has committed to revamping its image in the market. In addition to NEM (XEM), the exchange is also supporting Ethereum (ETH) and Lisk (LSK). FNNews, a South Korea news platform quoted Coincheck on November 13 stating:
“Technological safety has been verified through cooperation with external experts on NEM, Ethereum, and Lisk handling (on our exchange).”
NEM (XEM) price technical picture
NEM reacted positively to the news with incredible gains not only breaking above $0.1but also touching $0.13. NEM added over 25% yesterday defying the selling pressure in the larger crypto market. Despite the retracement from the highs around $0.13, NEM has maintained trading higher highs and higher lows.
A triangle breakout on the hourly chart shows that price is inclined to correct above the key resistance at $0.13. This break could very well test $0.15 on the upside. The 100 SMA is offering support close to the bullish trendline while a bullish move is ongoing at press time. XEM/USD is trading at $0.11738 and the stochastic indicating a strong buy signal, The MACD, which had dipped below the mean line (0.0) is making way into the positive region.
XEM/USD 15′ chart
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