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NEM, OKB, Tron price: Altcoins to face selling pressure from death cross

Akash Girimath



Source: Unsplash

Among OKEx’s OKB, NEM, and Tron, XEM’s relative performance over the last 35 days was recorded to be at -23% while TRX’s was at -27% and OKB’s was recorded to be -33%. This finding makes OKEx’s OKB the worst-performing crypto-asset of the last 25 days when compared to XEM and TRX.

Source: TradingView


Source: XEMUSD TradingView

NEM is the 26th largest crypto on CoinMarketCap with the price per XEM token recorded to be $0.0378. With a 24-hour trading volume of $20.9 million and -0.26% surge, the coin seemed to be hosting a rumble for both bulls and bears. The EMA ribbon indicated that the price was having trouble breaching it; however, the price was still above its immediate support at $0.03521. The immediate resistance for the coin was recorded to be $0.0409, should the price surge from its position.


Source: OKBUSD TradingView

OKEx’s OKB token had a good 2019. However, in 2020, the token didn’t perform as well in terms of price. At press time, however, the price of 1 OKB token was $4.609, with the market cap recorded to be $278 million, making it the 29th largest coin on the charts.

Furthermore, the price had also breached the PoC resistance at $4.19. Hence, the coast for OKB seemed clear with the exception of resistance at $4.69. The CMF indicator brought good bearings as well, with a rising CMF line suggesting an influx of capital into the market.


Source: TRXUSD TradingView

Tron, the cryptocurrency created by Justin Sun, failed to perform better than Steem’s forked Hivecoin over the past few days. This, despite TRX rising slowly since the significant price drop last month. At press time, the coin stood 7th on the cryptocurrency charts with a market cap of $801 million and a 24-hour trading volume of $812 million.

With a rise in RSI, the price was looking bullish. However, that may be hindered by a leaning 50-DMA approaching from above towards the price.

Akash is a full-time cryptocurrency writer and an analyst at AMBCrypto. He is an engineering graduate with an avid interest in finance and economics. Attracted to the chaos of trading, Akash has invested in BTC, ETH and XRP for educational purposes.

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