XEM/USDT - 4h - Analysis published on 03/12/2021

Hey guys, it’s Cosmo 😃 calling again from the Moon … and this is a quick update on XEM (NEM)/USDT (4 hours time frame).
Let's get started: Summary of the Analysis for XEM/USDT - 4h timeframe
Trends: Short Term – Potentially Bullish (opportunistic trade) & Long Term – Bullish

Crypto Screener™ (by TradingView) Rating: SELL

Technical Indicators (by TradingView & intotheblock): SELL
- Summary: 14 Bearish; 7 Neutral & 5 Bullish
- Oscillators: 1 Bearish; 6 Neutral & 4 Bullish
- Moving Averages: 13 Bearish; 1 Neutral & 1 Bullish

Fundamentals: NEUTRAL
- Circulating/ Max Supply = 100% --> BUY
- 816 out of 1,000 Fundamental Crypto Asset Score (FCAS™ by Flipside Crypto)
- C SIMETRY™ Rating (by Crypto Briefing) --> SELL
- BBB Rating with stable outlook by TokenInsight
- 95.7% out of 100% Asset Score™ by TokenInsight
- No Dynamic Performance Score™ by TokenInsight

AI (Artificial Intelligence) by CENTRALCHARTS: SELL

Multi Timeframe Analysis:
- 1h (1 hour frame): very negative
- 4h (4 hours frame): neutral
- D (1 day frame): positive
- 7d (last 7 days): very negative

My Opinion: POSSIBLE OPPORTUNISTIC BUY - Bullish over USD 0.320
My targets: USD 0.564 (+56.2%) & USD 0.865 (+139.6%) from current price level

XEM/USD experienced a big overnight dump and is down 39% on the day! … but seems to have found a bottom @ USD 0.320. Traders may consider opportunistic long (buy) positions if the price stays well above USD 0.320 (Stop Loss Level = 1st light red line below current price; -11.4% from current price level).
Please kindly note that this is a potential opportunistic trade against the current trend and against the indicators … speculating on a trend reversal. Use caution, smaller than usual trading amounts and proper risk management when following this trade!
Next resistance levels are indicated as light green lines in the chart. A bullish breakout above a resistance line would increase bullish momentum.
Signal Force (0-10): 3 = low force

We are currently trading significantly below monthly VWAP (volume weighted average price) due to the sharp overnight correction. Following this dump we should now retrace back to current monthly VWAP level (my 1st target around USD 0.564).

Please note that as a Hedge Fund Manager I would NEVER go outright long = only buy ... I always have potentially underperforming coins or tokens short against the longs!
The trick is, that (because of good research) the longs perform better than the shorts in all market situations.
Please also have a look at my other current analysis to get a full picture of the Crypto market.

Happy trading everyone … please like, follow and comment!

Published on 03/12/2021, 6:00 PM (UTC+1)

Comment:

This Morning (03/15/2021) we successfully tested the USD 0.32 support level and immediately bounced back to over USD 0.36. This is a good sign as the previous bottom seems to be a strong support!

Comment:

We're now (03/16/2021) testing the upper resistance of the trading range @ around USD 0.40. Should we sustainably break upwards over USD 0.40 this would be a strong buy signal!

Comment:

Received the XYM tokens from airdrop this Morning, hehe ... otherwise no fundamental news ... curve is pretty flat now. Let's HODL and see!