NEM Price Analysis 28/2: XEM Price Soars Over 28% Hitting 90-Day High on Bullish Momentum

SNEAK PEEK:

• NEM’s XEM token surges 28% in 24 hours, hitting a 90-day high.
• Increased trading activity shows investors capitalizing on NEM’s bullish momentum.
• Bullish indicators on daily and 4-hour charts suggest a persistent positive trend.

NEM (XEM) has been ranked among the top gainers in the last 24 hours, with bulls able to soar the price to a new 90-day high of $0.06406 from an intra-day low of $0.04315. As of press time, NEM’s XEM token has gained 28.37% in the last 24 hours and is now trading at around $0.05611. NEM has seen increased trading activity as investors flock to the coin to take advantage of the opportunities on its bullish momentum.

Due to the bullish control, the market capitalization and 24-hour trading volume increased by 29.47% and 971.00%, respectively, to $509,183,137 and $533,157,420. This significant increase in market capitalization and trading volume reflects the crypto market’s optimism and suggests that investors are eager to capitalize on NEM’s recent bullish momentum.

With a reading of 0.002408939, the MACD line crosses above its signal line, confirming the bullish trend in XEM. This move reflects investor sentiment as they look to buy XEM in anticipation of the currency’s positive trend continuing.The histogram develops green bars with a reading of 0.001364874, indicating an acceleration of the bullish trend and the potential for additional short-term bullish gains.

The uptrend is stronger than the downtrend, with an Aroon up reading of 78.57% and an Aroon down reading of 14.29%. This movement is a bullish sign confirming the strength of the XEM uptrend and may indicate further price appreciation. Furthermore, this action boosts investor confidence because it demonstrates that their investments in XEM will soon yield even higher returns.

The Bull Bear Power (BBP) reading of 0.010091953 confirms this bullish sentiment, indicating that the XEM market has the potential to rise in the short term. This movement suggests that buying opportunities are plentiful as XEM displays strength and momentum. As a result, investors should capitalize on current market conditions by investing in XEM.

With a MACD blue line reading of 0.002588066 above its signal line on the daily XEM chart, the bullish momentum seen on the 4-hour price chart will likely continue soon.

In addition, the current bullish trend shows no indications of slowing down, as the Aroon up reading is 92.86%, and the Aroon down reading is only 7.14%. Therefore, the conditions on the 24-hour chart are consistent with the current bullish trend into the foreseeable future. As a result, the blue MACD line continues to rise steadily above the signal line, and the Aroon-Up indicators show intense buying pressure.

A persistent positive trend is likely in the foreseeable future, and the BBP reading of 0.015126133 indicates that price volatility is unlikely to reach extremes and that the price will continue to trade above the 20-day moving average. This situation may be a good time for traders to take advantage of long positions on the XEM 24-hour chart, as the bullish momentum on the 4-hour price chart may persist.

NEM’s XEM token is on a bullish run, with significant gains in market capitalization and trading volume. Investors should consider taking advantage of this momentum.

Disclaimer: In good faith, we disclose our thoughts and opinions in our price analysis, as well as all the facts we give. Each reader is responsible for his or her own investigation. Reader discretion is advised before taking any action.

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• Source: https://investorbites.com/nem-xem-price-analysis-28-2/