- Bullish XEM price prediction for 2023 is $0.0548 to $0.1280.
- NEM(XEM) price might also reach $0.1 soon.
- Bearish XEM price prediction for 2023 is $0.0287.
In NEM (XEM) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about XEM to analyze the future movement of the cryptocurrency.
NEM (XEM) Current Market Status
| Current Price | $0.055262 |
| 24 – Hour Trading Volume | $59,722,161 |
| 24 – Hour Price Change | 26.6% up |
| Circulating Supply | 8,999,999,999 |
| All – Time High | $1.87 (On January 07, 2018) |
What is NEM (XEM)?
NEM Protocol (XEM) is a decentralized exchange (DEX) that provides cross-chain margin trading, derivatives, and currency futures trading. The NEM Protocol is a Layer 2 application developed on the Cosmos blockchain. The protocol uses cross-chain bridges to allow traders to access cryptocurrencies from platforms such as Ethereum and Polkadot.
NEM Protocol, unlike other prominent decentralized exchanges like Uniswap or Bancor, does not use an automated market maker (AMM) algorithm to maintain liquidity. Instead, NEM utilizes the order book concept, which has been extensively adopted by centralized stock and cryptocurrency exchanges for many years. In this way, NEM hopes to combine the efficiency of traditional banking with the transparency of decentralized exchanges. NEM Exchange traders only pay regular market maker and taker fees using XEM coins, rather than network gas fees for each transaction. XEM coins also act as the platform’s governance token and staking mechanism, enabling NEM’s Proof of Stake-based blockchain to function.
NEM (XEM) Price Prediction 2023
NEM holds the 95th position on CoinGecko right now. XEM price prediction 2023 is explained below with a daily time frame.
Horizontal channel patterns also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it. A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
Currently, NEM (XEM) is in the range of $0.0434. If the pattern continues, the price of XEM might reach the resistance levels of $0.0424, $0.0457 and $0.0534. If the trend reverses, then the price of XEM may fall to $0.0393.
NEM (XEM) Support and Resistance Levels
The chart below shows the support and resistance levels of NEM (XEM).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for NEM (XEM).
| Resistance Level 1 | $0.0548 |
| Resistance Level 2 | $0.0873 |
| Resistance Level 3 | $0.1280 |
| Support Level | $0.0287 |
The charts show that NEM (XEM) has performed a bullish trend over the past month. If this trend continues, XEM might run along with the bulls overtaking its resistance level at $0.1280
Accordingly, if the investors turn against the crypto, the price of NEM (XEM) might plummet to almost $0.0287, a bearish signal.
NEM (XEM) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of NEM (XEM) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of XEM lies above the cutoff line, indicating strong participants in the current trend.
Also, the Moving Average (MA) of NEM (XEM) is shown in the chart above. Notably, NEM (XEM) price lies above 50 MA (short-term), so it is in an uptrend. Currently, XEM has entered a bullish state. Therefore, there is a possibility of a reversal trend of XEM at any time.
Meanwhile, the relative strength index (RSI) of the XEM is 58.87. This means that NEM (XEM) is in an overbought state. However, this means a major price reversal of XEM may occur in the upcoming days. So, traders need to trade carefully.
NEM (XEM) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of NEM. It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of NEM(XEM). Currently, the ADX of XEM lies in the range of 48.8752 and thus, it indicates a strong trend.
The above chart also represents the Relative Volatility Index (RVI) of NEM (XEM). RVI measures the constant deviation of price changes over a period of time. The RVI of XEM lies below 50, indicating low volatility. In fact, the RSI of NEM (XEM) is at 58.87 thus confirming a potential sell signal.
Comparison of XEM with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and NEM (XEM).
From the above chart, we can interpret the price changes of BTC, ETH, and XEM are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and XEM also increase or decrease respectively.
From the above chart, we can interpret that the price action of XEM is similar to BTC and ETH. This indicates that when the price of BTC and ETH increases, the price of XEM decreases.When the price of BTC and ETH decreases,the price of XEM decreases.
NEM (XEM) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of NEM (XEM) between 2024 and 2030.
NEM (XEM) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, NEM (XEM) might probably attain $1 by 2024.
NEM (XEM) Price Prediction 2025
With several upgrades in the network, NEM (XEM) might enter a bullish trajectory. If the coin grabs the attention of major investors, XEM might rally to hit $3 by 2025.
NEM (XEM) Price Prediction 2026
If NEM (XEM) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 7 years, XEM would rally to hit $5.
NEM (XEM) Price Prediction 2027
If NEM (XEM) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, XEM would rally to hit $7.
NEM (XEM) Price Prediction 2028
If NEM (XEM) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, XEM would rally to hit $9.
NEM (XEM) Price Prediction 2029
NEM (XEM) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, XEM would hit $11 in 2029.
NEM (XEM) Price Prediction 2030
If investors flock in and continue to place their bets on NEM(XEM), it would witness major spikes. XEM might hit $13 by 2030.
Conclusion
With continuous improvements in the NEM Network, we can say that 2023 is a good year for XEM. For this reason, the bullish price prediction of NEM (XEM) in 2023 is $0.1280. On the other hand, the bearish price prediction of NEM (XEM) price prediction for 2023 is $0.0287.
Furthermore, with the advancements and upgrades to the NEM ecosystem, the performance of XEM would help to reach above its current all-time high (ATH) of $1.97 very soon. But, it might also reach $0.1 if the investors believe that XEM is a good investment in 2023.
FAQ
1. What is NEM(XEM)?
NEM Protocol (XEM) is a decentralized exchange (DEX) that provides cross-chain margin trading, derivatives, and currency futures trading. The NEM Protocol is a Layer 2 application developed on the Cosmos blockchain. The protocol uses cross-chain bridges to allow traders to access cryptocurrencies from platforms such as Ethereum and Polkadot
2. Where can you purchase NEM(XEM)?
NEM (XEM) has been listed on many crypto exchanges which include Binance,KuCoin, Huobi, OKX, Bitrex and Bybit
3. Will NEM (XEM) reach a new ATH soon?
With the ongoing developments and upgrades within the NEM Platform, XEM has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of NEM(XEM)?
On January 07,2018, NEM (XEM) reached its new all-time high (ATH) of $1.87.
5. Is NEM (XEM) a good investment in 2023?
NEM (XEM) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of NEM In the past few months, XEM is considered a good investment in 2023.
6. Can NEM (XEM) reach $0.1?
NEM (XEM) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then NEM (XEM) will hit $8 soon.
7. What will be the NEM (XEM) price by 2024?
NEM (XEM) price is expected to reach $1 by 2024.
8. What will be the NEM (XEM) price by 2025?
NEM (XEM) price is expected to reach $3 by 2025.
9. What will be the NEM (XEM) price by 2026?
NEM (XEM) price is expected to reach $5 by 2026.
10. What will be the NEM (XEM) price by 2027?
NEM (XEM) price is expected to reach $7 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
