NEM (XEM), Moderate Volatility and Falling Saturday: Is it Time to Cash Out?

Saturday, January 20, 2024 07:31 AM | InvestorsObserver Analysts

NEM (XEM) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Saturday, the Digital Money has lost 15.73% to $0.03833731061.

InvestorsObserver is giving NEM a 31 Volatility Rank. Find out what this means to you and get the rest of the rankings on NEM!

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Moderately Volatile

InvestorsObserver gives NEM a moderate volatility rank of 31, placing it in the bottom 31% of cryptos on the market.

The Volatility Gauge follows this makes its score defined by recent trends, rather than a bad day. XEM's moderate volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.

NEM price is favorably positioned going forward. With support set at $0.0328329527219941 and resistance at $0.0409587645372559. This positions NEM with room to run before facing selling pressures.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.