NEM XEM/USD is trading at the level of 0.75. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in NEM. The test area of the Ichimoku Kinko Hyo signal lines near the 0.80 level is expected, from which we should expect a rebound and an attempt to continue the fall with a target near 0.57.
NEM forecast & analysis XEM/USD on February 1, 2018
An additional signal in favor of the fall is the resistance level test. Earlier, a medium strength signal was received for sell of NEM cryptocurrency, due to the crossing of signal lines at the level of 0.95. Cancellation of the variant of NEM quotations drop will be a breakdown of the upper boundary of Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1.00, which will indicate the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes XEM/USD is with a breakdown of 0.70.
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