XEM Technical analysis: This All Sounds Bad

More activity and realization of prospects. Such remarks are probably made by investors to this cryptocurrency. The fact is that the XEM price began a downward trend even before it became mainstream in November. Beginning in September 2021, buyers stopped updating local highs and formed a clear fall channel. As a result, sellers were able to test the range of $0.09. This range is the main hope of buyers to stop the trend of decline and likely reversal in the market. It is from this range that buyers have been able to raise the XEM price by 170% since June 2021. But, analyzing the movement of the XEM price in the range of $0.09 now it seems that the price is no longer interesting to investors. Starting from the trading week on 17 January, the XEM price is moving in this range. If in June 2021 we saw a sharp buyout and an aggressive reversal – now we see a passive consolidation near the range. https://www.tradingview.com/x/QzQnraJJ/ In addition, the trading volumes during the $0.09 test is not increased and is just as low. This fact directly indicates the absence of an aggressive buyer. Of course, there is a high probability that after a long-term consolidation in the range of $0.09-$0.14, buyers will gain strength and start a new growth wave. However, even in this case, the main target, where it would be good to fix their long positions is at $0.22. Until the situation with trading volumes in the XEM market changes and volatili...