- NEM has been paired with BitCNY; the coin issued by BitAsia exchange.
- Indicators signal bullish movements in the short-term, the 100 SMA is limiting gains marginally below $0.20.
NEM price surged on the announcement from BitAsia exchange that it was being added as a tradable instrument. The announcement was made on June 14 and NEM has been paired with BitCNY; the coin issued by BitAsia exchange.
The cryptocurrency used $0.19 as a support and bounced from the demand zone at $0.195 -$0.190. XEM/USD approached the resistance at $0.205, briefly traded above it while forming a short-term flag pattern that was broken during the Asian trading hours on Friday.
At the time of writing, NEM price has dropped below $0.20 and the moving averages are offering immediate resistance. XEM/USD is changing hands at $0.197, while there is a subtle downward movement ongoing on the charts. The stochastic is deep in the oversold territory on the 15′ chart, however, it is sending short-term bullish signals.
The ascending trendline is positioned to support the price in case the lower corrections overwhelm the buyers. Significantly, $0.195 – $0.190 will work as a stronger support in the near-term.
XEM/USD 15-minutes chart
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