NEM overview: XEM holds ground, capped by DMA100
|- The coin gained 12% in recent seven days.
- A substantial barrier is created by DMA100.
- NEM Foundation publishes restructure updates and management reshuffle.
NEM, the 20th largest coin by market value, is one of the best-performing digital assets out of top-20. The coin gained over 13% in recent seven days amid positive news coming from the NEM Foundation team. At the time of writing the coin is changing hands at $0.05020, off the weekend high touched at $0.05546.
Looking technically, XEM/USD is effectively capped by DMA100 (currently at $0.0543). A sustainable move higher will open up the way towards psychological $0.06 and $0.0740 (DMA200).
The initial support is created by $0.0500 followed by a congestion zone at $0.04700; also, a significant barrier lies with $0.0436 (DMA50). A sustainable move lower will increase the selling pressure and push the price towards $0.04.
What’s going on
NEM Foundation published an update on its transformational initiative following the confirmation of funding of 25 million XEM.
The team is about to start updating its website and forums and begin hiring strategic team members. The interviews for all open positions will begin on April 1.
Karen Cohen, the State President of Victoria for the Australian Digital Commerce Association and Board Member of Blockchain Australia, will take the position of Interim Head of Human
Resources and Operations, while Agatha Priscillia is confirmed as the Chief Financial Officer. According to Ms. Priscillia LinkedIn profile, she has an extensive background in at top positions in the financial industry.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.