BTC
Bitcoin
ETH
Ethereum
BCH
Bitcoin Cash
USDT
Tether
XLM
Stellar
ADA
Cardano
LINK
Chainlink
XRP
XRP
LTC
Litecoin
CRO
Crypto.com
NEM logo

NEM Price Prediction 2022 — Rescued And Rising

· in Analysis
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology. https://twitter.com/basil_kimathi
Register for UTB Token Exclusive Presale Access

(Updated May 21, 2022) Analyzing NEM Price is not an easy thing to do. Last year was crucial for the transition of the NEM blockchain and the XEM token. Over the period, XEM has registered significant gains that have coincided with a rework of the ecosystem’s inefficient governance structure.

As things stand, NEM price has a lot of potential given its wide range of real-world use cases and now that it has the full backing of the NEM Foundation. In 2020 this platform has the opportunity to lead the rest as blockchain technology is integrated into the business world. Consequently, the increased use cases and integrations will have a positive impact on its price.

In this piece, we are going to take a look at the various factors that promise to push the price of XEM upwards, including expert opinions and technical analysis of the charts.

Want to buy NEM? You can buy directly on Binance and save 20% on all trading fees using this exclusive UTB link!

Experts’ Opinion On Why Nem Will Rise

NEM price is the 27th largest digital currency based on market cap. Launched in March 2015, the cryptocurrency was walloped during last year’s crypto winter and is down 97% from its January 2018 all-time high of $2.11. Despite this negative trend, let’s take a look at why experts believe NEM price could rise soon.

Saaim, an investments analyst at Lombardi Media Corporation, states that the hacking of the NEM platform and the lost coins could be a potential positive, which could prompt an upward price movement. She reports that the coin faces competition from other bigger altcoins, and adds that since the coin joined Binance, this may push its price to the happy side of $1.

Additionally, Tim Falk, from Finder.com, believes that NEM price has a lot of potential. The platform has a wide range of real-world use cases and the backing of the NEM.io foundation, thus it has the opportunity to be at the forefront of the large-scale integration of blockchain into the business world, which may push the coin’s price to higher levels.

The newly elected president of the NEM Foundation, Alex Tinsman, expressed a high level of optimism when she stated that it is exciting to be part of the foundation, given it has a robust suite of tools and a community that is moving forward to change the future. This optimism shows that she believes in a great future for the coin, given its numerous advantages.

Currently, NEM price is trading at $0.04 with a market cap of $371 million. However, recent developments around the project promise to push its price and market cap even higher. Below are four other reasons that are positively impacting the price of NEM (editor note: we’ll use NEM price here instead of ‘XEM’).

Buy XEM on Binance today!

Fresh Start After $8 Million Rescue

Earlier this month the NEM Foundation said that it was ready for a fresh start after it obtained a funding injection of around $8 million last month and after laying off most of its staff. Key members of the NEM community had approved the release of 210 million NEM tokens from reserves on Feb. 20 which are supposed to fund the operations of the foundations until Feb. 20, 2020.

Alex Tinsman who is the newly elected president of the NEM Foundation had earlier this year revealed that the nonprofit organization was almost broke after the previous governance council had mismanaged funds.

As part of the new changes, the new management was effecting included staff cutbacks that saw 100 people lose their jobs. Tinsman noted that “It’s in the best interest of companies to be fiscally responsible with their platform, their products, and their teams. We need to be product-focused, and that’s what we’ve done. This is a sign of good things to come.”

Also in a thank you message to the NEM community for approving the funding the foundation noted that it would be “working with the relevant community members to go through the process of disbursements of funds and have been in touch with our lawyers in Singapore where NEM Foundation is incorporated. As promised, we will transition into a product-focused and revenue-driven Foundation and will be providing updates regularly.”

So moving forward as the president notes, investors should expect good things from NEM price.

PUBLISH Will Utilize The NEM Blockchain

The news media arena is set to start reaping the benefits of the blockchain technology soon.

This is after TokenPost, a Korean blockchain based news platform and Kchain, a leading blockchain consultancy company also based in Korea partnered to launch PUBLISH – software that will aid integration processes.

Through the platform, the two entities plan to improve the news media ecosystem in this era of the distributed ledger technology.

PUBLISH describes itself as the “next generation blockchain-powered news publishing software protocol.” Moreover, it aims to distort the news media network designs with a global participation approach.

Feasibility studies done so far show that the protocol is compatible with the practicalities of publishing news content and it’s also economically viable.

The PUBLISH blockchain project will run on the NEM protocol. It will use NEM’s services including the ability to customize assets and use of encrypted messages.

By doing this, the platform hopes to build a network that will satisfy all news industry participants from advertisers, consumers, content creators and editors within the system.

By having distinct roles for different network participants, PUBLISH stands out from other blockchain projects that are trying to implement the same idea.

Publishers and Editors operating on the platform will be custodians of the blockchain based news within the network.

Also, the hybrid decentralized approach that is used to govern the PUBLISH network is expected to enhance transparency and autonomy when it comes to publishing news. Additionally, NEM is working with many other companies and signing new partnerships that would allow users to have better solutions. Thus, NEM price could continue growing in the future as well.

Despite that, it is also worth remembering that millions of NEM coins were stolen from the Coincheck exchange a few years ago.

Launch Of A Blockchain Hub For Nem-Based Startups

Recently, NEM launched a blockchain hub in Melbourne Australia. The hub will see NEM representatives provide support to members of the public on blockchain technology and cryptocurrencies.

It will also host blockchain events and educational programs. Most importantly, it will serve as a business incubator and support center for NEM-based blockchain startups.

Australia holds bright prospects for the NEM foundation. The project has lately benefited from local support through partnerships with startups like TravelbyBit.

This new development is expected to positively impact the price of XEM as it was the case recently after NEM was picked up by Mijin, a Japanese based blockchain platform.

Jian Chan, the NEM Foundation lead in Australia and New Zealand has said that the launch of the hub in Melbourne is a definite sign of NEM’s commitment to supporting innovation in both countries.

Already NEM is collaborating with many Startups in Australia including LaunchVic, Blockchain Centre, Stone $Chalk and many more.

NEM has also announced that it’s working on having more Australian partners and there are plans for some NEM based ICOs soon.

Partnership in UAE

A Memorandum-of-Understanding (MoU) has been signed by the NEM team with the Ministry of Community Development (MOCD) in the UAE. This MoU will cover the provision of various consultancy services to MOCD on its future blockchain projects. The UAE has been very progressive in its adoption of blockchain technology as a vehicle to drive its full digitalization policy, which it hopes to achieve in 2019.

This is the latest in a series of partnerships that have been signed with various companies. NEM is also being listed in a number of exchanges such as BitPanda and Kuna Exchange, a Ukraine-based crypto exchange that will offer both crypto and fiat-based pairing with NEM.

NEM Price in 2020 and 2021

Those users that have been in the cryptocurrency market for a while remember that NEM has been affected by a hack in 2018 that has definitely helped push the price of this virtual currency to the lowest point in years. 

This bearish action lasted until 2021 when things have changed for the entire cryptocurrency market. Let’s not forget that Bitcoin reached new all-time highs and it helped NEM move higher as well. 

In 2020, NEM started as most digital currencies in the market are being traded higher. However, compared to others, the price increase was minimum. Moreover, it was in an accumulation phase from mid-2018 until the beginning of 2021. Hence, it was possible for a large number of investors to get access to this virtual currency and sell it throughout 2021 and part of 2022. 

In 2021, NEM moved to $0.80 from $0.04 in 2020. This shows that there has been a strong push for a higher price with NEM. Despite this price increase, XEM remained far from the top 20 and it was not able for this virtual currency to recover and reach all-time highs as it happened in 2018. 

Now that we start 2022, we see that NEM is trending lower. It might need several catalysts in order to start trending higher and reaching new highs in the coming years. This would also be highly dependent on the entire cryptocurrency market.

NEM (XEM) Price TradingView Analysis Updated May 21, 2022

 

xem usdt long – 16.05.22 by initmx on TradingView.com

As per this analyst, there could be a triple top to the wedges that have been drawn by this analyst in the chart. This could happen as the current support continues to hold very well. However, he says that if this does not happen, the trade gets cancelled. 

He shows that there was an ascending wedge formed on the XEM/USDT trading pair and the coin has broken below it. As we can see, there is clear support close to 0.052 USDT and the coin could continue to move higher in the near future. 

However, it would be very important to see how the 0.0572 USDT price level behaves as it could become a strong resistance level to break for NEM in the near future. That being said, we should also pay close attention to Bitcoin and analyse the impact that it could have on XEM in the coming weeks.

XEM Price Targets and Stop Loss by BuySellMarketMaker on TradingView.com

This XEM/USDT analyst is showing how the virtual currency has been in a downtrend since it reached a top in early 2021. This virtual currency has fallen below 0.09 USDT and it could continue to move lower in the near future if Bitcoin continues to add selling pressure to the whole crypto markets. 

Another thing to take into consideration is that at the end of 2021, XEM dropped below a very important price level at 0.1655 USDT. Since that moment, it has been impossible for XEM to recover the price it had before the crash in November/December 2021. It is just a matter of time to see what will happen with XEM and how the whole crypto market will behave in the next few weeks. Understanding how Bitcoin and other virtual currencies behave will be very important for NEM investors.

XEM Scalp ⭐️⭐️⭐️⭐️ by Artem_Dishel on TradingView.com

This analyst showed that NEM was close to breaking a very important upward channel (ascending triangle). Indeed, this is what happened. As Bitcoin and cryptocurrencies experienced large volatility in recent days (something similar to what happened in traditional financial markets), we see that NEM reacted to this as well. 

This expert shows that in the 15-minutes chart NEM dropped below the support level (lower boundary of the ascending triangle), and it went down to its previous support level of 0.093 USDT. That means that NEM erased all the gains experienced in recent weeks. However, the 0.10 USDT price level remains a very important region to look at as it has been working as resistance for many weeks now, and it could continue to behave in this way in the future as well.

XEMUSDT by HAMED_AZ on TradingView.com

This cryptocurrency analyst shows that NEM has been in a downward trend since late 2021 and it continued until early 2022. Now, the coin has been traded close to a very important support/resistance level close to 0.10 USDT per coin. Now, the coin has been moving higher and it could continue to do so in the future. 

The coin has reached a price per coin of 0.12 USDT and then it moved towards 0.10 USDT. The analyst sees that it might be possible for the virtual currency to surpass 0.12 USDT and continue even to 0.1629 USDT if the market turns bullish. However, we have seen Bitcoin falling from $44,500 to $43,000 in the last few hours. It will be important to see how BTC behaves and which is the impact that this could have on NEM and other virtual currencies.

🔝 XEMUSDT – Positive Divergence 💥 by MiguelFTCurado on TradingView.com

For this virtual currency, this analyst has made a long-term analysis in which he shows how XEM continues to move higher despite being close to a very important support level. The region between 0.09 USDT and 0.1762 USDT seems to be the current channel in which XEM is being traded. 

Now we see that XEM is also moving higher, something that could push the price of the virtual currency to the top of this range at 0.1762 USDT. Then, the price of the coin could move higher even further. But this would highly depend on how the whole cryptocurrency market behaves in the coming weeks. The breakout would be at 0.1762 USDT. 

If Bitcoin turns bullish, then XEM could also continue to move higher and expand.

Buy & Trade NEM for yourself, it’s easy using Binance and you can even save 20% on all trading fees by signing up here.

What Next?

Last year represented a turning point for the NEM blockchain and its token. It signaled some significant changes to the NEM’s ecosystem governance model. And now a new operational structure has been established. The new changes aim to correct previous mistakes and bottlenecks.

As such, the market has responded positively to the changes, and XEM gains over the past few months is a testament to this. With the upcoming launch of Catapult, the gains are expected to continue in the second half of the year, and it would be wise for any investor to add some XEM to their crypto portfolio to ensure they don’t miss out on the upcoming windfall.

Want to learn more about NEM price? Check out this guide that explains everything about the project. This guide will teach you how to buy XEM on Binance. Also, once you purchase your XEM, you will want to store them in a safe place, so here is a guide on the best NEM wallets in 2019.