Here is possible scenario of XEM price developing.
Aftet XYM airdrop was made, price of XEM dropped almost 91%. Since June it retraced ~190%, but price was strongly rejected at 0.23x.
XEM also slowly but continuously looses positions at coinmarketcup(#72 at time of writing).
NEM puts efforts on its new token "XYM" and further development/support of XEM seems completely stopped. XEM uses POI algorithm for staking, that means: not enough just to hold coins, you have to make transactions to increase your importance in network or make supernode(y need more then 3M tokens) to earn more fees. That is also disadvantage in comparison with other tokens on market.
Currently important level is around 0.18, in case of loosing it(depends on next BTC move), i expect next stop at 0.1-0.8, there we need to watch for price action, or some retrace happen or it continue falling to 0.03-0.01cent.
Anyways, XEM doesn't look like a good investment, neither medium nor long term, at least while we see no any XEM strength.
Aftet XYM airdrop was made, price of XEM dropped almost 91%. Since June it retraced ~190%, but price was strongly rejected at 0.23x.
XEM also slowly but continuously looses positions at coinmarketcup(#72 at time of writing).
NEM puts efforts on its new token "XYM" and further development/support of XEM seems completely stopped. XEM uses POI algorithm for staking, that means: not enough just to hold coins, you have to make transactions to increase your importance in network or make supernode(y need more then 3M tokens) to earn more fees. That is also disadvantage in comparison with other tokens on market.
Currently important level is around 0.18, in case of loosing it(depends on next BTC move), i expect next stop at 0.1-0.8, there we need to watch for price action, or some retrace happen or it continue falling to 0.03-0.01cent.
Anyways, XEM doesn't look like a good investment, neither medium nor long term, at least while we see no any XEM strength.
Comment:
Goes as planned for now, thinking to close first portion of short at 0.14
Comment:
Part of short closed at 0.14, congrats! Moving rest of position to BE zone. Expecting next move to 0.1 area, but will see what BTC do next days.
