NEM Price Prediction

October 10, 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
Cryptocurrency: NEM

Related Crypto Market Materials

Technical Analysis in Cryptocurrency Trading
Technical Analysis in Cryptocurrency Trading

In 2019, cryptocurrencies can be called the most popular financial instrument. High volatility of tokens creates a good potential for obtaining...

Binance Coin (BNB) Price Forecast
Binance Coin (BNB) Price Forecast

When it comes to Binance Coin (BNB), it is becoming increasingly obvious that the coin was, is, and will be one of the best performers in 2019. This is likely the only cryptocurrency...

Decred (DCR) Price Forecast
Decred (DCR) Price Forecast

Have you ever heard a story about an immensely talented and promising young person, who is overshadowed by a more popular sibling? The tale of Decred (DCR) and Bitcoin fits that scenario perfectly...

XRP Price Forecast
XRP Price Forecast

XRP, formerly known as Ripple, is the third-largest cryptocurrency by market cap, with a m.cap of $11.8 billion and a daily trading volume of $1.3 billion. Obviously, that makes XRP...

V Systems (VSYS) Price Forecast
V Systems (VSYS) Price Forecast

V Systems (VSYS) belongs to a cohort of freshly surfaced altcoins that holds great potential but is often overlooked by most experts and analysts. The coin currently resides...

Ethereum Price Forecast
Ethereum Price Forecast

Ethereum (ETH) is the second-largest cryptocurrency in the world, at least when it comes to the size of its market cap. It is also considered by many to be the second most...

Ravencoin Price Forecast
Ravencoin Price Forecast

Although many people are skeptical about altcoins, claiming that they are already past their prime and the long-awaited second alt season will never occur, the stats speak quite the opposite...

Bitcoin SV (BSV) Price Forecast
Bitcoin SV (BSV) Price Forecast

Bitcoin Satoshi's Vision, or Bitcoin SV (BSV), still remains one of the largest cryptocurrencies in the crypto industry. The coin currently occupies the 9th spot on the list of largest cryptos...

Top 10 upcoming ICOs

ICO Start End
1 Ledder Aug 01 Dec 31
2 BitWings Jun 03 Nov 30
3 Pbet Jun 18 Dec 15
4 UCBI Banking Oct 18 Jan 18
5 Cinemadrom Feb 03 Apr 30
6 Yachtco Aug 04 Feb 04
7 Nexxus Nov 23 Dec 15
8 GOVEARN Jun 23 Dec 31
9 BrandProtect Apr 27 May 31
10 PointPay Jul 22 Jul 22
All ICOs

Top 10 Crypto Brokers

Rank Status Broker Reviews
1 FXTM information
2 HYCM information
3 FIBO Group information
4 HotForex information
5 XM information
6 OctaFX information
7 easyMarkets information
8 LH Crypto information
9 USGFX information
10 information
All Crypto Brokers

Top 10 Cryptocurrencies

Currency Price, USD 24h
1 Bitcoin 7 451.139 -6.88%
2 Ethereum 156.055 -9.69%
3 XRP 0.239 -3.08%
4 Tether 1.005 -0.06%
5 Bitcoin Cash 214.430 -10.6%
6 Litecoin 49.110 -7.57%
7 EOS 2.688 -10.54%
8 Binance Coin 16.240 -6.95%
9 Bitcoin SV 95.345 -8.42%
10 Stellar 0.059 -5.25%
All Crypto Currencies

Top 10 Crypto Exchanges

Exchange Volume, USD Reviews
BitMEX 3 069 312 071
EXX 2 250 568 625
Biki 1 853 598 655
BKEX 1 851 309 394
P2PB2B 1 753 668 584
CoinEx 1 597 757 171
Fatbtc 1 566 375 344
Binance 1 554 730 819
LBank 1 544 760 848
MXC 1 452 207 912
All Crypto Exchanges