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NEM Price Analysis: Could October Be The Turnaround Month? Friday, October 5

05 october 2018, 10:23 by John Kiguru

NEM Price Analysis: Could October Be The Turnaround Month?

NEM had a fantastic start of the month. On October 1, the coin was soaring by well over 12% and the bullish market isn’t slowing down. Today, the coin is still putting up an outstanding performance and is still climbing up the chart. So, with October looking this solid for the project, could it be the turnaround month for NEM?

Its latest performance has been triggered by the announcement that NEM will be partnering with OATH Protocol. According to the NEM team, OATH Protocol helps protect dApp users’ rights and assets. This announcement has also been supported by yet another announcement that NEM is partnering with Portal Network. NEM plans to create a decentralized domain name service with the support of Portal Network.

Looking To Make A Breakthrough Before End Of Year

Since January, NEM has lost over 90% of its value but there are signs that the coin might pull an incredible comeback before the end of the year. At the time of press, the coin is trading at $0.105921 with a market cap of $953,292,399. In the last 24 hours, the market has been strong and NEM has recorded a great performance. During that time, the NEM has surged by 4.10%.

XEM/USD Price Chart, Friday October 5th:

Looking at the chart, in the last 7 days, the coin has climbed from $0.094108 to $0.105921. However, two days ago the coin come close to hitting its September high. At the beginning of the month of September NEM hit $0.123955, this remained its best performance for the month. On October 2nd, it came close to it as it briefly hit $0.110058.

The NEM project has begun the month with great ambition and partnerships to back its work. In the coming weeks this could pave way for some incredible results for XEM and maybe we could see the coin reach $1.00 by the end of the year.

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