NEM (New Economy Movement) is a platform ecosystem that uses blockchain and cryptography to provide solutions for businesses and individuals. XEM is the native cryptocurrency for the public blockchain NIS1 NEM.
NIS1 operates in a similar way to Bitcoin (BTC) where its network has an independent distribution node that processes and records transactions on a public ledger called a blockchain.
The NIS1 blockchain has some unique features that are different from Bitcoin and most other cryptocurrencies namely NIS1 uses a proof-of-importance (PoL) algorithm to ensure that honesty in transactions on the network are processed and recorded in a timely manner.
Examine the current movement chart of the XEM/USDT price.
The opening of the market this week saw XEM moving weakly in the support space after making a price decline from the all -time high (ATH) at the $ 0.86 price level on March 3, 2021.
If the XEM price movement manages to get past that space, the next SBR (support become resistance) zone around $ 0.25- $ 0.30 will be tested first before the expectation to continue higher.
However, if the price movement is still unable to pass the support space and signal a bearish trend, the price movement is expected to continue to decline until testing the lowest level ever recorded before.
At the time of writing, XEM/USDT is trading at $ 0.17. The coin is currently ranked 62nd on the crypto chart.
