NEM Price Prediction 2022 — Will XEM Hit $1 Soon?

NEM Price Prediction 2022 — Will XEM Hit $1 Soon?

  • Bullish XEM price prediction is $0.1455 to $0.5260.
  • The XEM price will also reach $1 soon.
  • XEM bearish market price prediction for 2022 is $0.0863.

In NEM’s (XEM) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about XEM to analyze the future movement of the cryptocurrency. 

NEM Current Market Status

According to CoinGecko, the price of XEM is $0.094817 with a 24-hour trading volume of $17,802,420 at the time of writing. However, XEM has decreased nearly  6.1% in the last 24 hours.

Moreover, XEM has a circulating supply of 8,999,999,999 XEM. Currently, XEM trades in cryptocurrency exchanges such as Binance, OKX, Bybit, Bitget, and CoinTiger.

What is NEM (XEM)?

NEM is an ecosystem of platforms that use blockchain and cryptography to provide solutions for businesses and individuals. XEM is the native cryptocurrency of NEM’s NIs1 public blockchain. XEM is a decentralized open-source cryptocurrency that has a number of unique features. NEM claims that the proof-of-importance system ensures that the network can identify and reward those that actually use it the most. NEM group is a parent company designed to support the growth of the NEM ecosystem leading up to the launch of the symbol and beyond. 

NEM (XEM) Price Prediction 2022

NEM holds the 100th position on CoinGecko right now. XEM price prediction 2022 is explained below with a daily time frame.

XEM/USDT Descending Triangle Pattern (Source: Tradingview)

The descending triangle is a bearish pattern that is characterized by a descending upper trendline and a flat lower trendline that acts as support. This pattern indicates that sellers are more aggressive than buyers as the price continues to make lower highs. The pattern completes itself when the price breaks out of the triangle in the direction of the overall trend. The market must be in a downtrend before the descending triangle pattern appears. This is important and emphasizes that traders should not simply trade the pattern whenever the descending triangle appears. After price posts a strong break below the lower trendline, traders will look for confirmation of the pattern through continued downward momentum.

Currently, XEM is in the range of $0.185. If the pattern continues, the price of XEM might reach the resistance level of $0.1107 & $0.1240. If the trend reverses, then the price of XEM may reach to support level of $0.0890.

NEM (XEM) Support and Resistance Level

The below chart shows the support and resistance level of XEM.

        XEM/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of XEM.

  • Resistance Level 1 – $0.1455
  • Resistance Level 2 – $0.2410
  • Resistance Level 3 – $0.3569
  • Resistance Level 4 – $0.5260
  • Support Level  – $0.0863

The charts show that XEM has performed a bullish trend over the past month. If this trend continues, XEM might run along with the bulls overtaking its resistance level at $0.5260

Accordingly, if the investors turn against the crypto, the price of the XEM might plummet to almost $0.0863, a bearish signal.

NEM Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of XEM is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of XEM lies below the cutoff line, indicating weaker participants in the current trend.

XEM/USDT RVOL, MA, RSI (Source: TradingView)

More so, the XEM’s Moving Average (MA) is shown in the chart above. Currently, XEM is in a bearish state. Notably, the XEM price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of XEM at any time.

Meanwhile, the relative strength index (RSI) of the XEM is at level 51.38. This means that XEM is in a neither oversold state nor overbought state. However, this means a major price reversal of XEM may occur in the upcoming days. So, traders need to trade carefully. 

NEM Price Prediction 2022 — ADX, RVI

Let us now look at NEM’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

XEM/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of NEM. Currently, XEM lies in the range of 22.2849, so it indicates a weak trend. 

From the above chart, the Relative Volatility Index (RVI) of XEM. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of XEM lies above the 50 levels, indicating that the direction of volatility is high. In fact, XEM’s RSI is at 51.38 level thus confirming a potential sell signal.

Comparison of XEM with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and NEM.

BTC Vs ETH Vs XEM Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC, and XEM is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and XEM also increases or decreases respectively.

Conclusion

With continuous improvements in the NEM network, we can say that 2022 is a good year for XEM. For this reason, the bullish price prediction of NEM in 2022 is $0.5260. On the other hand,  the bearish XEM price prediction for 2022 is $0.0863.

Furthermore, with the advancements and upgrades on the XEM ecosystem, the performance of XEM would help to reach above its current all-time high (ATH) $1.87 very soon. But, it might also reach $1 if the investors believe that XEM is a good investment in 2022.

FAQ

1. What is NEM?

NEM is an ecosystem of platforms that use blockchain and cryptography to provide solutions for businesses and individuals.

2. Where can you purchase XEM?

XEM has been listed on many crypto exchanges which include Binance, OKX, Bybit, Bitget, and CoinTiger.

3. Will XEM reach a new ATH soon?

With the ongoing developments and upgrades within the XEM platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of NEM?

On Jan 07, 2018, XEM reached its new all-time high (ATH) of $1.87.

5. Is XEM a good investment in 2022?

NEM (XEM) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of XEM in the past few months, XEM is considered a good investment in 2022.

6. Can NEM (XEM) reach $1?

NEM (XEM) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then NEM (XEM) will hit $1 soon.

7. What will be the XEM price by 2023?

NEM (XEM) price is expected to reach $1.6 by 2023.

8. What will be the XEM price by 2024?

NEM (XEM) price is expected to reach $2.8 by 2024.

9. What will be the XEM price by 2025?

NEM (XEM) price is expected to reach $3.5 by 2025.

10. What will be the XEM price by 2026?

NEM (XEM) price is expected to reach $4.2 by 2026.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

The post has appeared first on thenewscrypto.com

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