- Nano coin is looking strong compared to other crypto assets, and Bulls are facing difficulty to breach short term moving averages (SMA) of 20 and 50-Day
- The digital asset is successfully holding the vital moving averages of 100 and 200-Day while facing rejection from 20 & 50-DMA
- The pair of NANO/BTC is trading with a slight loss of -0.70%, standing at 0.0002122 BTC; whereas, NANO/ETH is CMP at 0.002791 ETH with an intraday loss of -3.07%
Nano coin over the monthly chart is trading near the crucial resistance line of 20 and 50-day short term moving averages. Moreover, the overall chart setup looks positive as the crypto asset successfully sustains above 100 and 200-DMA. The closing of day candles above 20 & 50-DMA will boost Bulls’ confidence, and soon NANO can witness a sharp positive rally.
Volume action at the monthly chart falls below the average line and requires improving upcoming trading sessions. The coin is gradually heading towards the higher zone and seems to have good buying interest near 100 and 200-DMA. Support on the lower side is at $7.00 and $6.10; while resistance on the higher side is $9.00 and $10.10.
Nano Coin Trading On Bullish Note
Nano coin at the weekly time horizon is trading on a bullish note while making higher highs and lower low patterns following the rising trend line. Likewise, technical parameters are indicating upcoming positive or bullish momentum and gradually shifting in favour of bulls. Moreover, the coin must hold the rising trend line, also acting as a support line with good volume traction. Currently, the coin is trading at $7.80 levels with intraday gains of +1.61%, and the volume to market cap ratio stands at 0.04443.
Relative Strength Index (BULLISH): Nano coin RSI is presently projecting bullish momentum over the weekly chart and gradually heading towards the overbought zone. It Stands at 51.
Moving Average Convergence Divergence (BEARISH) currently indicates a bearish trend on the daily chart with the significance of the seller’s line (red) over the buyer’s signal line (green). However, a positive or bullish crossover is expecting in upcoming trading sessions.
Support levels: $7.00 and $6.10
Resistance levels: $9.00 and $10.10.