NEM XEM/USD is trading at 0.39. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in NEM. The test area of Ichimoku Kinko Hyo signal lines near the level of 0.38 is expected, from which we should expect a rebound and an attempt to continue growth with the target close to 0.45.
NEM forecast & analysis XEM/USD April 24, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the lower border of the channel, as well as a test of the support level. Earlier, a medium strength signal was received for buy of NEM cryptocurrency, due to the crossing of signal lines at 0.23.
The cancellation of the growth scenario of NEM cryptocurrency quotes will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 0.30, which will indicate a change in the bullish trend in favor of a bearish trend. Expect the acceleration of the growth of quotations XEM/USD stands with the breakdown of the resistance area and the closing above the level of 0.42.
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