NEM Price Prediction 2021 – Will XEM Hit $0.6 Soon?

NEM Price Prediction 2021 – Will XEM Hit $0.6 Soon?
  • Bullish XEM price prediction is $0.1756 to $0.5925.
  • The XEM price will also reach $0.6 soon.
  • XEM’s bearish market price prediction for 2021 is $0.1024.

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

NEM Current Market Status

According to CoinGecko, the price of XEM is $0.123679 with a 24-hour trading volume of $43,569,559 at the time of writing. However, XEM has decreased to 5% in the last 24 hours.

Moreover, XEM has a circulating supply of 8,999,999,999 XEM. Currently, XEM trades in cryptocurrency exchanges such as Binance, OKEx, Mandala Exchange, Huobi Global, and CoinTiger

What is NEM (XEM)?

NEM is an ecosystem of platforms that use blockchains and cryptography to provide solutions for businesses and individuals. It was created by three developers, its overall development and promotion are now managed by NEM Group.  NEM (XEM) is a decentralized open-source cryptocurrency that has a number of unique features. NEM utilizing Ed25519 public-key signature system and the SHA3 hash algorithm. 

NEM (XEM) Price Prediction 2021

NEM holds the 97th position on CoinGecko right now. XEM price prediction 2021 is explained below with a weekly time frame.

XEM/USDT Horizontal Channel Pattern (Source: Tradingview)

A horizontal channel pattern has the appearance of a rectangle pattern. It consists of at least four contact points. Horizontal channels are trendlines that connect variable pivot highs and lows. In a horizontal channel, buying and selling pressure is equal, and the prevailing price direction is sideways. 

Currently, XEM is in the range of  $0.123. If the pattern continues, the price of XEM might reach the resistance level of $0.2470. If the trend reverses, then the price of XEM may fall to the support level of $0.1036.

NEM (XEM) Support and Resistance Level

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

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

From the above weekly time frame, it is clear the following are the resistance and support levels of XEM.

Resistance Level 1$0.1756
Resistance Level 2$0.2464
Resistance Level 3$0.3199
Resistance Level 4$0.4270
Resistance Level 5$0.5925
Support Level 1$0.1024
Resistance & Support Level

The charts show that 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 $0.5925.

Accordingly, if the investors turn against the crypto, the price of the XEM might plummet to almost 0.1024, a bearish signal.

NEM Price Prediction 2021 — RVOL, MA, and RSI

The Relative Volume (RVOL) of XEM is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of XEM lies below the cutoff line, indicating weaker participants in the current trend.

XEM/USDT RVOL, MA, RSI (Source: TradingView)

More so, the XEM’s Moving Average (MA) is shown in the chart above. Currently, XEM is in a bearish state. Notably, the XEM price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of XEM at any time.

Meanwhile, the relative strength index (RSI) of the XEM is at level 32.54. This means that XEM is in a nearly oversold state. However, this gives confidence for the traders to trade without any fear.

NEM Price Prediction 2021 — ADX, RVI

Let us now look at NEM’s Average Directional Index (ADX). 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.

XEM/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of NEM. Currently, XEM lies in the range at 45.1983, so it indicates a strong trend. 

From the above chart, the Relative Volatility Index (RVI) of XEM. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of XEM lies below the 50 levels, indicating that the direction of volatility is low. In fact, XEM’s RSI is at a 45.71 level thus confirming a potential sell signal.

Comparison of XEM with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and NEM.

BTC Vs ETH Vs XEM Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC, and XEM is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and XEM also increases or decreases respectively.

Conclusion

With continuous improvements in the NEM network, we can say that 2021 is a good year for XEM. For this reason, the bullish price prediction of NEM in 2021 is $0.5925 On the other hand,  the bearish XEM price prediction for 2021 is $0.1024.

Furthermore, with the advancements and upgrades on the XEM ecosystem, the performance of XEM would help to reach above its current all-time high (ATH) $1.87 very soon. But, it might also reach $0.6 if the investors believe that XEM is a good investment in 2021.

FAQ

1. What is the NEM?

NEM is an ecosystem of platforms that use blockchains and cryptography to provide solutions for businesses and individuals.

2. Where can you purchase XEM?

XEM has listed on many crypto exchanges which include Binance, OKEx, Mandala Exchange, Huobi Global, and CoinTiger

3. Will XEM reach a new ATH soon?

With the ongoing developments and upgrades within the XEM platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of NEM?

On January 7, 2018, XEM reached its new all-time high (ATH) of  $1.87 .

5. Is XEM a good investment in 2021?

NEM (XEM) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of XEM in the past few months, XEM is considered a good investment in 2021.

6. Can NEM (XEM) reach $0.6?

NEM (XEM) is one of the active crypto that continues to maintain its Bullish state. Eventually, if this bullish trend continues then NEM (XEM) will hit $0.6 soon.

7. What will be the XEM price by 2022?

NEM (XEM) price is expected to reach $0.5 by 2022.

8. What will be the XEM price by 2023?

NEM (XEM) price is expected to reach $1.2 by 2023.

9. What will be the XEM price by 2024?

NEM (XEM) price is expected to reach $2.6 by 2024.

10. What will be the XEM price by 2025?

NEM (XEM) price is expected to reach $8 by 2025.

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.


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