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NEM (XEM) Price Prediction for 2021: Can Triple Bottom Support $0.1453 Trigger Buying?

Published on Tue, June 22, 2021 by
Arslan Butt • 4 min read

Last Update: July 19th, 2021

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MARKETS TREND

NEM – Forecast Summary

NEM Forecast: H1 2021
Price: $0.1453 – $0.2671
Price drivers: Cryptocurrency Market, Technicals
NEM Forecast: 1 Year
Price: $0.2671 – $0.437
Price drivers: Increased Adoption and Utility, Cryptocurrency Market, Technicals
NEM Forecast: 3 Years
Price: $0.70 – $0.90
Price drivers: New Developments from NEM, Crypto Market Sentiment

 

 

Current XEM/USD Price: $

The start of the year 2021 had set the stage for investment in NEM (XEM) crypto in terms of price. The current price of NEM stands above $0.163230 with a market cap of $1,469,071,631 with a trading volume of $307,811,325. It has a circulating supply of 8,999,999,999 XEM coins and a maximum supply of 8,999,999,999 XEM coins so far. 

Since the start of 2021, XEM/USD had recorded heavy improvement and in March, it had recorded a notable growth and crossed the $0.85 mark. Although, the upticks were short-lived as it faced a sharp drop after facing rejection at $0.76 and dropped to $0.33. Later, the value of XEM embarked on a bearish trend, and as of now, the NEM price is currently trading at $0.163230 with a 24-hour trading volume of $65,197,754. NEM is up 3.03% in the last 24 hours. The current ranking is #62, with a live market cap of $1,469,071,631.

NEM (XEM) is an open-sourced cryptocurrency token and a blockchain platform. David Shaw is the CEO of NEM and it stands for New Economic Movement, a blockchain project that created a decentralized digital platform for decentralized applications and a digital asset of the same name. An alpha version of the platform was launched in 2014 before the more stable platform was launched at the end of the 1st quarter of 2015

NEM’s blockchain technology is referred to as a Smart Asset System and is understood to be the world’s first Smart Asset blockchain. NEM is a P2P cryptocurrency and blockchain technology that aims to enhance the basic functionality of pioneering cryptocurrencies, delivering a platform for managing any kind of asset, including currencies, supply chains, ownership records, and notarizations.

NEM Coin Features:

1: Two-tier architecture, connecting out of the purview of the rest of the network, with transactions saved without having to download the blockchain, enhancing transaction speeds.

2: Built on Test Driven Development method:  This method helps to avoid unnecessary codes and inefficiencies.

3: Proof-of-Importance algorithm, giving the right to harvest to those with a vested interest in NEM.

4: Speedy transaction time of 1 minute, which is significantly faster than the likes of Bitcoin.

Recent Changes in the Ankr (ANKR) Price

Period Change ($) Change %
30 Days +0.14 87.5%
6 Months -0.13 -81.25%
1 Year 0.11 68.75%

 

XEM/USD

NEM Price Prediction for the Next 5 Years

We will discuss the comprehensive Nem price prediction and forecast for a better insight into the current Nem market situation, Nem market capitalization, and future expectations concerning the price action. It will help to understand what’s going on in the crypto market right now. Nem is a non-mineable coin priced at $0.163230 and has a market capitalization of $1,469,071,631, which puts it in 62 ranks in the global Cryptocurrency Rating.
NEM Price Prediction For 2021 – Surprisingly, the year 2021 could turn the tables for NEM (XEM) as it has initiated the launch of a PAX stable coin on its blockchain. This would support actual business applications on NEM. As we are well aware, this coin has started to recover after facing a price drop recently. The current price of XEM is around $0.16670, and it reflects a possible consolidation. Moving on, Nem coin could rise to $0.50 by the end of this year, according to the latest crypto news and historical data.
NEM Price Prediction 2022 – With back-to-back buying of XEM crypto since last year, the increased investments by traders may boost the price of XEM in the market and integrate its blockchain on many applications. The mass adoption could result in investment growth in prices by the end of 2022, taking it to $0.58.
NEM Price Prediction 2023 – The NEM crypto is likely to hit the price of $0.72 by the end of May 2023. Furthermore, it may focus on certain partnerships and technological progress to strengthen its ecosystem during this period. It would be safer to bet the NEM around $0.70 by the end of 2023. 
NEM Price Prediction 2024 – We predict that the NEM crypto is expected to hit the price of $0.85 by the end of May 2024.
NEM Price Prediction 2025 – The important technical upgrades and product launches might be set to unveil in the coming years, backed by multitudes of ecosystems. It would not be an exaggeration to find that NEM would increase in the price range of $1 to $1.2, although the same can’t be called a very overstated and buoyant reach for 2025.

Technical Analysis – XEM/USDT Consolidates Over Double Top

XEM/USDT has exhibited a strong bearish bias since March 2021, plunging from $0.8649 level to $0.1464 level. On the technical front, the pair is consolidating at $0.1731, holding below monthly 20 and 50 periods EMA resistance levels. The leading technical indicators, the MACD (Moving average convergence divergence) and RSI (Relative Strength Index), are exhibiting a bearish trend in the currency pair

On the weekly time-frame, the MACD and RSI have crossed below the mid-level (0 level), and 50 respectively, which exhibits a strong selling trend in the price. XEM/USDT has closed a series of bearish engulfing candles on the weekly time frame, and it’s likely to continue a  downward trend until the $0.1464 level. As you can see on the monthly chart, the coin is gaining immediate support at $0.1464 that’s being extended by a double bottom level. This level’s violation can extend the selling trend until the $0.0206  level. 

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XEM/USDT – Weekly Time-frame – Double Bottom in Play

On the weekly time-frame, XEM/USDT has closed a series of doji candles that are likely to keep the pair on hold at $0.1734 level. On the lower side, NEM may find support at the $0.1734 level, and below this, the next support holds around $0.0206.

NEM (XEM) Price Prediction for 2021: Can Triple Bottom Support $0.1453 Trigger Buying?

XEM/USDT – Daily Time-frame – Choppy Session Continues

The XEM/USDT coin is trading with a mixed bias at $0.1734. On the daily timeframe, it has odds of taking a bullish reversal over $0.1464 double bottom support level. On the higher side, the coin may face immediate resistance at the $0.2545 level extended by 50 periods EMA level. At the same time, a bullish crossover of the 50 EMA line is expected to drive further buying until the $0.4337 level. The RSI and MACD indicators support a mixed trend as the MACD is holding above 0, while the RSI is still below 50. This demonstrates indecision among investors as they wait for another solid fundamental to drive a buying trend in XRM/USD. Therefore, the violation of the immediate resistance area of the $0.2626 level can lead the XEM/USDT price towards an initial target level of $0.4337 while support holds at $0.017. Good luck!

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About the author

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Arslan Butt // Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.