XEM Technical Analysis: The Last Chance For Buyers To Revolt

Is market calm a good sign or a bad one? It all depends on what the situation was before the total calm. The XEM market has been falling relentlessly since March 2021 and has not pleased investors with good rebounds. In fact, as of 21 June 2021, there was only one upward rebound, within which the XEM price corrected the fall wave from March 2021 by less than 23.6%. Such a weak correction clearly indicated the weakness of buyers, which we see happening on the chart. The main buyers support, thanks to which the XEM price has not yet fallen down is the range of $0.09. For almost a year, buyers keep this range. https://www.tradingview.com/x/C2c2lIQ7/ Beginning in January 2022, a narrow consolidation began above the $0.09 range, which is the last chance to change the course of events in the XEM market. On the one hand, the weak rebound of the XEM price in the liquidity range and low trading volumes indicate the unwillingness of buyers to start their trend. However, everything changed after the closing of the weekly candle on 11 April. On the weekly chart, we see that after several attempts by buyers to take control of the local mark of $0.125, the XEM price began to fall again. But, in the 2 weeks since 4 April, sellers have not shown enough strength to break down the consolidation. Neither weekly candles nor trading volumes are dangerous. In addition, sellers were unable to update the local low from 21 February. The top trend line...