Re: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs
IMO many whales that are accumulating and early adopters that are cashing out have decided on a ~$0.20-0.25 price to buy/sell. Since the last rally, any time the price moves too much above or below this price, it quickly corrects back. That is the price point I decided to cash out 20% of my holdings back when it was below a penny. As soon as the early adopters are finished cashing out I'm guessing there will be another rally because there are no newly minted tokens entering the market from miners with electricity/hardware bills.
And it is easy to determine when the whales will be done caching out. It is a simple math. SUM the daily trading volume of NEM on just Poloniex in the past 30 days and you will find that the amount of XEM coins traded at the range of ~$0.2 to $0.25 is almost the same volume traded in the previous rally.
A NEM rally usually starts soon after the amount of coins bought in the previous rally are totally sold. Which is usually equivalent to 50k -> 80k BTC. We are few days away from the next NEM rally.