NEM bulls struggle to hold on the gains accrued following the correction from $0.036 to highs above $0.044. A retreat is underway on hitting overbought conditions but the MACD shows that the buyers have the power to sustain the price above $0.040. NEM is among the biggest double-digit gainers in the cryptocurrency market. The crypto broke out in an engulfing candlestick that exerted extreme bullish pressure on key barriers including the descending trendline resistance. The priced ravaged through the barrier at $0.042 and brushed shoulders with the next hurdle at $0.044. Further gains above $0.044 were untenable leaving a gap open for exploration by the battered bears. For now, the price is retreating as a result of overbought conditions. Besides, the Relative Strength Index (RSI) at 64.38 is pointing south. Looking at the Moving Average Convergence Divergence (MACD), it is clear that bullish action is suppressed but still exists. The MACD’s positive divergence signifies the ability of the buyers to sustain the price above $0.040 support and focus on higher levels towards $0.050 XEM/USD four-hour FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Ripple technical analysis: XRP/USD drops following a brief flirtation with the $0.30-zone FX Street 3 years NEM bulls struggle to hold on the gains accrued following the correction from $0.036 to highs above $0.044. A retreat is underway on hitting overbought conditions but the MACD shows that the buyers have the power to sustain the price above $0.040. NEM is among the biggest double-digit gainers in the cryptocurrency market. The crypto broke out in an engulfing candlestick that exerted extreme bullish pressure on key barriers including the descending trendline resistance. The priced ravaged through the barrier at $0.042 and brushed shoulders with the next hurdle at $0.044. Further gains above $0.044 were untenable leaving a gap… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
