Analyzing NEM (XEM): A Deep Dive into Security and Transaction Efficiency

NEM (XEM) blockchain is primarily designed for security and efficient transactions. It utilizes the Proof of Importance algorithm to validate transactions. Although it's an older cryptocurrency, I don't see much development in comparison to its counterparts. There seems to be a lack of updates even on their Twitter handle. However, they hinted in a previous post that a stable coin might be introduced on this chain. Hence, I'm not expecting significant progress for NEM this season.

On the monthly chart, it has been maintaining a decent trend over the past four months. However, it has created good liquidity up to $0.03. There's an order block around $0.06. If it breaks, we may witness a direct move to zero points to three.

The weekly chart is forming a ranging frame. Two scenarios may unfold: either it retraces or breaks out and touches the $0.06 level. However, I believe a breakout may occur from here.

According to the one-day chart, I see a bearish structure for this coin. It may tap $0.039 again, then experience a slight bullish move before retracing and then moving upward with liquidity.

To enter, I'll open the four-hour chart. There's liquidity at $0.043. If it taps, that will be our entry point. For entry, the zero point zero four three to zero point zero three nine range will suffice, with a set SL at $0.036. Selling at a ten percent profit after entry would be optimal.

Finally, it's important to note that my blog doesn't provide financial advice. If anyone incurs losses by following it, I hold no responsibility.