NEM overview: XEM/USD moves higher waiting for Catapult launch details
|- The coin gained 10% in recent seven days and moved above DMA100.
- NEM’s team will publish project updates in the end of the month.
NEM retreated to the 21th position of the global cryptocurrency rating despite strong upside momentum. NEM has gained nearly 7% in recent 24 hours and over 10% in seven days to trade at $0.0547 at the time of writing. NEM’s market value is registered at $499M, while an average daily trading volume stays at $15M, which is roughly in line with the long-term figures.
What’s going on
Earlier this month NEM Foundation published an update on the project developments. Now the community is waiting for an additional information on Catapult’s launch.
Catapult is a blockchain engine that can be used on both public and private networks. It is supposed to become the core NEM engine.
“We will provide another update at the end of the month with regards to Catapult’s launch plan from the NEM Foundation,” the company wrote in its blog post.
NEM’s technical picture
The initial support for XEM/USD is created by DMA100 currently at $0.0523. Once it is broken, the sell-off may continue towards $0.05 and $0.0457 (DMA50).
On the upside, the next important barrier is seen with psychological $0.06 followed by $0.07 strengthened by DMA200.
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.