XEM Token Price Surged 50% But Remained Volatile With A Low Security Score And Market Cap Dominance

The XEM token price was outperformed by 91% of the top 100 cryptoassets in the last 1 year. Additionally, it was down by 98% at press time from its all-time high price of $2.09.

The XEM token price has outperformed 91% of the top 100 cryptoassets in the last 1 year. Additionally, it was down by 98% at press time from its all-time high price of $2.09.

Price Overview Chart of XEM | Source: CoinMarketCap

The XEM price was highly volatile, with a volatility of 16.12%, which showed a higher probability of an uncertain move in the near future.

Also, the token’s market presence was certainly low, with a market cap dominance of 0.01%. A neutral sentiment for the token followed this, and the fear and greed index showed greed among the token’s investors.

The token market cap traded flat over the last 24 hours, which resulted in a value of $217.612M. Also, the market cap ranking of the token was #225, as per CoinMakretCap.

The token’s traded volume value also did not witness any significant change, which resulted in a traded value of $114.131M. It was 57% of the market cap. That showed huge liquidity in the token price.

Moreover, 100% of the token’s maximum supply has circulated in the market, resulting in 8.999B XEM. Its fully diluted market cap was similar to the spot market cap.

The derivatives traded volume value of the token has advanced 98% in the last 24 hours. This further resulted in a traded value of $346.52M, much higher than the spot traded volume value.

Over the last few days, the token witnessed higher short liquidations, as seen on the liquidation chart. Additionally, in the previous 24 hours, shorts worth $286.96K were liquidated.

Against the shorts, longs worth only $166.31K were liquidated, which showed buyers’ dominance in the token price. Also, the token’s open interest has advanced by 12.3% and resulted in a value of $17.68M.

In less than 30 days, the XEM token price has advanced by more than 100%, showing optimism among investors.

Consistent lower-low swings were formed on the XEM token’s daily chart, showing a consistent price decline over time. From March 2024, the token price started to witness profit booking and lost its value by 80% from the swing high of $0.06250.

Following the most recent price action, the XEM token price took support at the lower levels. It formed a higher high swing followed by strong green candles on the chart.

The XEM toke price has crossed above the 20-day and the 50-day EMAs. At the same time, the 50-day and the 200-day EMAs were trading in a death crossover. It showed that the token price needs to be pushed to higher levels.

XEM/USD Chart by TradingView.com

The MACD and the signal line had advanced to the bullish trajectory, and the chart’s histograms were also strongly bullish.

The RSI hit the overbought zone and was trading at a level of 80. That showed a strong surge in the bullish price momentum of the token.

The XEM token has surged over 50% but remained volatile with a low-security score and market cap dominance. It has traded positively for 19 of the last 30 days but fell 98% from its all-time high. Despite recent gains, its future highs have been uncertain.

The XEM token price might take support at the levels of $0.0110 and $0.0150, and it may face resistance at $0.040 and $0.0520 levels.

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading

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