Obviously, such an agressive pricedrop raises eyebrows, check out the explenation as to how this was caused it if you are interested to know. https://www.reddit.com/r/nem/comments/m3jsx4/a_couple_of_things_people_really_need_to/
The other good thing to know is that prior to this (air)drop, NEM was a TOP10 Marketcap coin which has been around for quite a while, to be more precise since 2015 and that with no downtime or security breaches, XEM (the native token for NEM blockchain) will also not be replaced by XYM that was recently airdroppped, they are 2 different things and NEM/XEM are here to stay.
As the chart looks now, it will attract interest from buyers and as we can expect the dip seems to be more or less reached at these levels with higher lows over the past few days
We can assume that if more big bag hodlers wanted to dump their XEM, they are either stupid to have waited till now and would have done allready so in the past few days.
The RSI lows are up as price continued down so we have a bullish divergence, expect to see recovery from here.
The other good thing to know is that prior to this (air)drop, NEM was a TOP10 Marketcap coin which has been around for quite a while, to be more precise since 2015 and that with no downtime or security breaches, XEM (the native token for NEM blockchain) will also not be replaced by XYM that was recently airdroppped, they are 2 different things and NEM/XEM are here to stay.
As the chart looks now, it will attract interest from buyers and as we can expect the dip seems to be more or less reached at these levels with higher lows over the past few days
We can assume that if more big bag hodlers wanted to dump their XEM, they are either stupid to have waited till now and would have done allready so in the past few days.
The RSI lows are up as price continued down so we have a bullish divergence, expect to see recovery from here.