NEM XEM/USD is trading at 1.65. 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 1.55 is expected, from which we should expect a rebound and an attempt to continue growth with the aim near 2.25.
NEM forecast & analysis XEM/USD on January 5, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the lower boundary of the channel. Earlier, a medium strength signal was obtained for buy of NEM cryptocurrency, due to the crossing of signal lines at the level of 0.7850. Cancellation of the variant of growth of NEM quotations will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 1.00, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations XEM/USD stands with a breakdown of 2.00 level.