Is NEM (XEM) Heading the Right Direction Saturday?

Saturday, July 02, 2022 12:33 PM | InvestorsObserver Analysts

InvestorsObserver gives NEM a strong short-term technical score of 89 from its analysis. The proprietary scoring system considers the coin's trading history over the past month to determine the strength of its short-term technicals. XEM has currently traded better than 89% of coins based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.

InvestorsObserver is giving NEM a 89 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on NEM!

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Trading Analysis

XEM is currently $0.008429 (23.72%) above its 30-day low of $0.035536956 and -$0.011785 (-21.14%) below its 30-day high of $0.05575064. Additionally, XEM is above its average price of $0.043866638 over the past month of trading with its current price of $0.043965940. Overall, the recent trading history of NEM suggest that traders are currently bullish on the coin. XEM has a average market cap compared to the majority of coins with a total market value of $395,693,464.38. The market valuation for NEM is relatively average due to the largest 100 cryptos having a market cap above $1 billion and XEM sits underneath that mark but remains above $100 million in market capilization. NEM's average volume is average as $61,298,008.64 worth of the coin is typically traded over a 24 hour period. The volume for XEM is relatively average as the most traded 100 cryptos have roughly $100 million worth of the crypto exchanged over a 24 hour period and a large portion of the market trades at least $5 million worth each day. Over the past 24 hours XEM's volume is below its average with $13,828,007.58 exchanged. NEM's subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.

Summary

XEM's recent trading over the past month give it a strong short-term technical score as its recent price movement give traders reason to be more bullish on the coin in the short-term. Click Here to get the full Report on NEM (XEM).