Bitcoin
BTC$70 607.24

2.03%

Ethereum
ETH$3 561.34

1.14%

Tether
USDT$0.999965

0.03%

Binance Coin
BNB$583.24

2.15%

Solana
SOL$185.45

1.48%

XRP
XRP$0.629879

2.52%

NEM Price Prediction for November 2019


October 2019

NEM Foundation is a shining example of an organization that had come up with a great idea, but then almost drove the company into going bankrupt. This happened due to the implementation of poor management strategies and the infamous Coincheck hack, which saw perpetrators steal around $500 million in XEM. Although the 2018 cryptocurrency market meltdown had also played a significant role in the project’s inability to rise to its full potential. But we will not delve into details because, despite experiencing such a big bump on the road, NEX Foundation found the reserves to avoid bankruptcy and continue the development of a peer-to-peer cryptocurrency platform.

XEM in 2019


NEM’s cryptocurrency is among the underperforming altcoins from CoinMarketCap’s Top 30, still clinging onto the 26th position. According to the statistical data, XEM lost -38.99% of its value since the start of the year to date. Over the past 30 days, the coin has been down -15.11%, having been in a clear downtrend after the yearly high of $0.1, registered on May 16.

Since that time, the entire cryptocurrency market has been gradually spiraling downward, but unlike other altcoins, such as Basic Attention Token and ATOM, which had bottomed out and have been putting up double-digit gains during the months, XEM is clearly still seeking the support line.

As of now, it appears that the support has been established at $0.0384, but there are not signs of trend reversal from XEM as of yet. Therefore, there is a high probability that the price of one of Japan’s favorite cryptocurrencies will continue to show little signs of strength during the next few weeks, perhaps even entering the $0.0336 - $0.0360 zone by the end of October.

Until that date, everything will hang in the balance for XEM and the cryptocurrency market in general, as the first two months of the fall had historically been the worst for most coins in terms of price gains. A lot will depend on whether or not Bitcoin would recover from the recent retraction with enough strength to continue the bull run that had been put to a stop in August. Should BTC get into the green again, the price of XEM, and a plethora of other altcoins, will follow its suit. Otherwise, NEM has little to no chances of growing on its own accord.

This is the time for XEM holders to arrive at the decision of whether they would hold this coin, agreeing to put their profit expectations on a backburner, or sell a significant part of them in order to buy back at a lower price. As things stand, it appears that the latter scenario would be more likely.

What 2020 might hold for NEM


The following year might open some prospects for XEM, especially in the face of the approaching Bitcoin halving that will undoubtedly exert a positive influence on the price of the majority of altcoins. The NEM team is still working on ways to make the migration the Catapult blockchain engine to other networks/chains. Any progress in that matter would drive the price of XEM up, even beyond the 2019 resistance level of $0.1. 

 Author: Alex Paulson for Crypto-Rating.com

Related

NEM (XEM): The Buyers Are Flexing Their Muscles
NEM (XEM): The Buyers Are Flexing Their Muscles
NEM (XEM): The Correction is Gaining Momentum
NEM (XEM): The Correction is Gaining Momentum
NEM (XEM) Finally Comes to Life
NEM (XEM) Finally Comes to Life
NEM (XEM) Stays in a Dull Consolidation
NEM (XEM) Stays in a Dull Consolidation
NEM (XEM) Dubious Recovery After a Death Cross
NEM (XEM) Dubious Recovery After a Death Cross
XEM in January 2020: shot down at the takeoff
XEM in January 2020: shot down at the takeoff
What will happen to NEM's price
What will happen to NEM's price

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 79.2% 43 $70 607.24 2.03% 5.83% $1 388 617 170 966 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 77.2% 48 $3 561.34 1.14% 1.15% $427 616 397 332 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92% 1 $0.999965 0.03% 0.02% $104 450 557 345 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 64% 79 $583.24 2.15% 3.78% $87 215 437 052 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 58% 89 $185.45 1.48% -0.21% $82 394 904 357 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 84% 31 $0.629879 2.52% -1.42% $34 570 449 990 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 96% 2 $0.999918 -0.02% -0.01% $32 225 189 704 USDC 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 64.8% 68 $0.218594 18.03% 39.45% $31 402 035 656 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 67.6% 67 $0.653594 2.59% 1.65% $23 255 837 326 ADA 7 days price change
10 Avalanche (AVAX) AVAX Avalanche predictions 57.2% 88 $54.51 1.26% -1.95% $20 574 426 056 AVAX 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 57.6% 94 $0.000032 5.70% 13.48% $18 700 268 155 SHIB 7 days price change
12 Toncoin (TON) TON Toncoin predictions 59.2% 88 $5.04 0.27% 21.77% $17 480 637 001 TON 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 76% 52 $9.49 0.17% 0.48% $13 543 252 177 DOT 7 days price change
14 Bitcoin Cash (BCH) BCH Bitcoin Cash predictions 70.4% 60 $576.03 7.00% 37.12% $11 337 288 440 BCH 7 days price change
15 Chainlink (LINK) LINK Chainlink predictions 79.6% 42 $19.30 0.33% 3.33% $11 331 417 648 LINK 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.