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NEM Pact with UAE: News Price Forecast

  • NEM signed a cooperation pact with the United Arab Emirates to provide blockchain consultation service.
  • The News saw NEM pump 10% as of Writing
  • Price Forecast: What Level should I enter?

NEM signed an agreement with the United Arab Emirates Ministry of Community Development (MOCD). This will entitle the Ministry to blockchain consultation service.

This coupled with the UAE actively seeking to integrate all of their government protocols on the Blockchain

The UAE for the past 9 Months has been seeking to integrate all of their government protocols on the Blockchain. However, until recently it has been unconfirmed which Crypto-Firms they have sought to consult or use their blockchains to do so.

The pact also entitles them to exchange knowledge and information.

What Impact does this have on Price? 

  • NEM or New Economy Movement has been trading between $0.10-$0.13 over the past 4 Months.
  • The last time we saw the coin this law was in Middle July 2017.
  • The On Balance Volume that explains Open-Interest, can give us an indication that the price is purposely being traded between these two ranges for accumulation.
  • NEM is currently seeking to break out from under the 55MA – if this happens we could see the higher $0.13
  • Volume on the higher time frames is currently trading below the 90D Average.
  • On the Short-time frames, it appears that it is seeking to break out and retest $0.11

An individual has two choices:

  • Long-term investor: Invest from $0.095 onwards with a stop loss at $0.07 and a take profit at $0.85.
  • Short-term trader, trade from current levels based on the Moving Averages crossing over and take profit at above $0.11. Always increase stop losses in profit.

 

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