NEM Price Prediction 2021 – Will XEM Hit $1 Soon?

NEM Price Prediction 2021 – Will XEM Hit $1 Soon?
  • Bullish XEM price prediction ranges from $0.20 to $0.92
  • XEM price might also reach $1 soon.
  • XEM bearish market price prediction for 2021 is $0.03.

In NEM (XEM) price prediction 2021, we use statistics, price patterns, RSI, and much other information about XEM to analyze the future movement of the cryptocurrency.

NEM operated by a Singapore-based non-profit organization called NEM.io Foundation. NEM has its own cryptocurrency, XEM. Moreover, XEM is not being used by merchants as a means of payment like Bitcoins (BTC). NEM’s blockchain platform was designed for scalability and speed. NEM’s permissioned private blockchain delivers the fastest transaction rates for internal ledgers.

According to CoinGecko, the NEM price is trading at $0.1592 with a 24-hour trading volume of $593,093,105, at the time of writing. However, XEM has increased by $14.03 in the last 24 hours. 

Moreover, XEm has a circulating supply of 9.00B XEM. Currently, XEM trades in cryptocurrency exchanges such as  Binance, OKEx, CoinTiger, ZBG, and Huobi Global.

NEM (XEM) Price Prediction 2021

XEM price prediction 2021 is explained below in the weekly time frame.

XEM/USDT Descending Channel Pattern (Source: TradingView)

A descending channel designed by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns.

In the weekly time frame chart,  if the price of the XEM breaks the resistance level of $0.20, it will reach the target of $0.43 and $0.92. Or else, if the price of the BTG drops it will fall to the support level at $0.08. So, the trend of the XEM is based on the breakout.

NEM (XEM) Support and Resistance level

The below chart shows the support and resistance level of NEM (XEM).

XEM/USDT Support and Resistance Level (Source: TradingView)

From the above weekly time frame, without any doubt, the following are the resistance and support levels of XEM.

  • Resistance Level 1 – $0.20
  • Resistance Level 2 – $0.43
  • Resistance Level 3 – $0.92
  • Support Level 1 – $0.08
  • Support Level 2 – $0.03

The charts indicate that XEM shows bullish performance over the past month. However, if the trend continues, XEM might run along the bulls overtaking its resistance level at $0.92. In contrast, if the investors turn against the crypto, the price XEM might plummet to almost $0.03, a bearish signal.

NEM (XEM) Average Directional Index (ADX)

Now let us focus on the Average Directional Index (ADX) of XEM. Notably, the ADX helps traders to identify the strength of a trend rather than its original direction. More so, it can used to determine whether the market is changing or a new trend starts. However, it integrated with the Directional Movement Index (DMI).

Even more, the range of the oscillator is from 0 to 100. Added to this, the strong trend and weak trend are indicated by high and low value. Moreover, it is mostly combined with directional indicators.

XEM/USDT ADX(Source: TradingView)

The above chart shows the ADX of XEM. Currently, the ADX stays above the range of 26, so it specifies a strong trend that is on the sell-side.

Conclusion

Among many, the XEM is one of the cryptos that keeps its ground against a bearish market. Furthermore, our long-term XEM price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $1.87 this year. However, this will only occur if it breaks many past psychological resistances.

Furthermore, with the ongoing development and upgrades within the XEM ecosystem, it could experience a great future ahead in 2021. It may reach $0.92 soon and it might even reach heights, however reaching $1, if investors have planned that XEM is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Recommended for You


A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.