NEM Under-Valuation despite Close below Minor Support Trend Line
The price eventually went under the less support trend line, but the follow-up has not been impressive so far.
In fact, after dropping down, NEM found support at about $ 0.75 before reversal.
While doing that, do you notice the double beam reversed candlestick and a bullish candlestick under the bottom BB? Does this mean in the coming sessions? Yes, it actually does.
While NEM bears would be responsible if prices are below $ 0.75, our attention is shifting to the middle BB and the smaller resistance line as potential ceilings. I recommend patience at current levels because NEM is trying to find inventory.
Curious whether you see a long term play in NEM or more of a short-term volatility play. In theory, adoption by financial institutions in Japan/Asia would provide strong growth but it feels as if adoption hasn't quite taken off. The recent coindesk hack doesn't help (even though it's unrelated but people also tend to associate bad, somewhat unrelated, news to investments sometimes)
This is a short term, but i can already tell you for long term the price will be much highere.
And NEM got quite some attention yesterday. Even bad publicity can be helpful, would be nice of it pushes the price up a bit. I find this project interesting, quite some potential for the future
Same thoughts here
You are very good with your analysis. I am still learning though.
Thank you!
I invested a few dollars in this cryptocurrency after I read one of your articles. Things are certainly going well in the future because it is a long-term investment in NEM. Thank you so much @tradewonk for your analysis and speculation, I trust you
My pleasure!
I agree with your analysis that we must be patient with NEM. A lot of these altcoins will try to find a solid base of support before continuing with a reversal. Especially if BTC starts to break out of consolidation, if it does a lot of these altcoins at support will start their reversals. A good price target would probably be at the 1.00 satoshi level before we can continue further.
Agree
this good information, you are the bast in this field :)
Thank you!
thanks you to @tradewonk
Brother you are really great and the information you are sharing is really amazing GOD bless you and this post is really informative i think this downfall is only because of the hacking of $500 dollar in japan and coincheck stop the withdrwal and deposit and trading :(
Thanks bro
Your analysis is valuable to me. I think you are right. And I think that this crypto currency promises a lot. Although for her this is not the best time, but the panic must pass, and everything will be fine.
Upvote and resteem
Gracias por la info @tradewonk parece un excelente analices
good observation.how will i have known this without this post.
BR
JAVAPOINT