Tanya Abrosimova
Independent Analyst
- 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.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?