NEM Technical Analysis December 29th!

XEM price
XEM price

NEM Technical Analysis December 29th! Above is the 4 hour chart showing a 4 hour uptrend getting started with major support at $0.80. Major resistance should occur at $1.05. Parabolic Sar is in an uptrend look for this to be broken before any downswing occurs. Stochastic RSI has crossed in the lower range and is rising a very bullish indicator. XEM looks like it has significant upside to the $1.20 range in the rising channel. CME futures will end Friday nothing is holding back Bitcoin or ALTS at that point. Limit ups might push it higher on Sunday when CME futures open.Buying dips should be profitable till Sunday.

candle patterns

I have been into the cryptocoin world for about 5 years now. So most of what I share here comes from my experiences over those years. This is not financial advice or any other advice, just me sharing my view.

NEM started as a baby as a satire. A silly post on bitcointalk that only required that you post to sign-up or maybe send a few nxt or a tiny bit of btc. As those that were part of the insider club realized that this project had some potential they slowly developed some leadership skills and found a few old time programmers that wanted to strike out on their own and build something better then all the other blockchains at the time. They slowly rejected the idea of being a nxt clone and built up a framework in java for the platform. After about a year of coding and promises they released the chain and NEM was born. About 3 hours later the network went down since the /shutdown api was public. :-)~ They have learned from their mistakes over time. NEM has consistently not promised smoke and mirrors. The devs take and idea and prove it is feasible with real world testing and more testing. Their coding style is professional and they only want to see their Blockchain grow up and be used in the real world.

NEM is attempting to form real world partnerships with real brick and mortar businesses. This strategy provides long term gains and does not lend to pumps and pushes in the market.

NEM will be opensource with the release of catapult. This has been a major FUD source for a long time and it will finally allow blockchain purist to feel like they can join the platform.

Catapult is a complete rewrite of NEM using all the lessons learned in running a 4 billion dollar blockchain for multiple years.

Massive funds to allow for marketing and development. There is no reason to pump the price in the short term to just get some fun money. They are a serious business and deal with professionals in a serious way.

Areas for Improvement/concerns: Mijin has far too much control on the IP rights of the NEM blockchain. As a private company it is only a matter of time when the devs will have to choose between the two. Having NEM become a fully open source project will allow the project to move past the closed door, backroom deals that currently happen.

Ease of use. NEM apps need to be friendly to non technical people and not allow them to harm themselves. The apps need to be developed with the intelligence to prevent the users from doing stupid things. This area will improve drastically with the fully open source version of NEM in the future.

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