XEM Seems to Reach the Bottom
NEM (XEM) is rising by 1.5% to $0.0138 this Monday, slightly down from its earlier peak of $0.0143. The token is at a critical juncture technically, following a 61.0% plunge after Binance delisted it in early June. However, XEM is showing resilience against further declines. Currently, prices are attempting to surpass the moving average of the descending channel. If successful, XEM could test the resistance at $0.0210-$0.0250.
The broader crypto market is also showing signs of improvement, with Bitcoin (BTC) reclaiming support above $60,000. This development could pave the way for a potential 12% rise towards $70,000 per BTC. Such a rally might provide the necessary momentum for XEM to climb to its resistance levels at $0.0210-$0.0250.
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