NEM found a bottom?
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Coin of the day is NEM.
Nem was trading in the downtrend for recent time, and it seems that the coin has finally found the bottom at the 0.00003 level. Dive to the 0.00003 level still fit in the global uptrend, so it could be a good place to buy.
From the bulls:
XEMBTC broke above the Bearish Trend Line and pushed upwards from the 0.00003 support. Growing volumes support the bullish tendency. Potential profit if the bullish phase starts now is very high.
From the bears:
In comparison to the massive and consistent downtrend, the turnaround pattern should be much larger and significant. If this is the beginning of such construction, then the breaking of the 0.00005 resistance and 100-days EMA should prove it. Before these signs - the turnaround scenario sounds week.
Nem was trading in the downtrend for recent time, and it seems that the coin has finally found the bottom at the 0.00003 level. Dive to the 0.00003 level still fit in the global uptrend, so it could be a good place to buy.
From the bulls:
XEMBTC broke above the Bearish Trend Line and pushed upwards from the 0.00003 support. Growing volumes support the bullish tendency. Potential profit if the bullish phase starts now is very high.
From the bears:
In comparison to the massive and consistent downtrend, the turnaround pattern should be much larger and significant. If this is the beginning of such construction, then the breaking of the 0.00005 resistance and 100-days EMA should prove it. Before these signs - the turnaround scenario sounds week.
Note
0.00004 level seems too strong. Big jump in volumes and a movement down suggests that investors who bought at the bottom now selling and fixing 30% of profits. Makes this movement looks like Pump scheme. If the price manages to hold above the 0.0000325 level (61.8% Fibo of the uptrend) a further uptrend could be possible.
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