Looks like normal range to me. NEM was holding at 24K NXT for awhile and now it's dipped down to 22K NXT.
The problem with being traded on the NXT AE is that NEM's price rides on the value of NXT and also follows its' trends. Everyone seems to be unloading their NXT.
It's a dump and pump. NXT is having a huge content release on August 8 and the whales are purposely crashing down the price as low as possible so they can ride the profit / hype train when NXT rebounds to 7-9 cents after August 8.
A lot of the old school NXTers made a killing when they crashed down NXT to 2 cents in April and then had it rebound to 8 cents after the asset exchange. They're just repeating an old trick.
Per usual I disagree with everything that you just said.
The price of NEM is now below its 30-day moving average; I don't know how you define the word normal but its different from how I and the rest of the chart-reading world does.
The price of NEM has been falling _in addition to_ the price of NXT falling (in addition to BTC). It was a nice theory that they should be inversely correlated but that's not how its playing out.
At this point its extremely risky behavior to purposefully drive the price of a coin down hoping that you can buy in "cheap," as most coins regardless of how good or useful they are tend to go _down_ in value.
Frankly I'd like to believe the part about NXT rebounding to 7-9 cents, but with the addition of NEM, Ethereum, MaidSafe, BlackHalo and now Bitshares, there's a lot of other cool stuff happening even among our core subgroup of "innovation-seeker" nerds.
NXT is going to have to put on quite a laser light show with fireworks in order to re-harness everybodys splintered attentions.
I'ld be really surprised if NXT does not rebound.
Klee himself admitted that almost all his funds were moved into BTC, I imagine that's true for other NXT whales - they go back and forth between BTC and NXT. When the price of NXT is "good" for them, such as now where NXT looks like it might hit 3-something cents in a week, they'll go all in and send NXT rebounding right after the content releases.
After all it's been done several times already. It's an old fashion pump and dump that you see all the time in coins with low volume and wealthy benefactors. NXT has plenty of millionaires who owe their existence to that coin and have no problem engaging in a bail out (and profiting) coinciding with major releases like the asset exchange and soon-to-be digital good stores and other updates coming in the following weeks.
NXT and the assets are very good buys right now as the whales are going to send NXT back up to 8 cents, imo. You just have to sell before they do.