XEM Is Struggling to Climb above $0.0200
Nem (XEM) has declined by 7.2% to $0.0170 this week, significantly underperforming the broader market as Bitcoin (BTC) drops only 1.3% to $67,840. With no recent fundamental updates to support XEM, investor sentiment remains muted. The token’s last significant development was in June when Binance delisted XEM, causing a substantial 68.0% decline to $0.0111. Since then, XEM has been consolidating in a symmetrical triangle pattern, a classic signal of market indecision.
This pattern suggests equal potential for a breakout in either direction. However, the recent downtrend increases the probability of a breakdown through support, which could lead to a further 41.0% decline toward $0.0100. Conversely, if XEM manages to hold above $0.0200, a bullish scenario could emerge, potentially pushing the token up to the $0.0300 resistance level.
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