- NANO price is observing a consolidated momentum on the daily chart. It is trading with a loss of more than 2.5% in the intraday session
- NANO technical indicators hints towards an upside momentum in asset price. In contrast, the NANO/BTC pair has observed a loss of 4% in the last 24 hours
NANO coin is currently ranked 99th in the cryptoverse and has a market dominance of more than 0.04%. The volume of the coin has along with the market cap has seen some loss in the past few days. The volume to the market capitalization of the NANO hints towards a strong bullish momentum in price
Why Invest In NANO Coin?
NANO coin price is currently consolidating after a long bull run but can soon revert to the new high. It is trading near the value of $6.3 and has observed a loss of more than 4.3%. The coin has been rebranded from Rail blocks and was launched in July 2018 with good speed and simplicity. NANO also deals with some of the major limitations of legacy financial infrastructure in many modern cryptocurrencies. Unlike other cryptocurrencies which use Proof of Work, NANO uses Open Representative Voting (ORV). NANO/BTC pair can also see a new high being formed in the future. One can invest in NANO as per the price action and risk adversity.
NANO Coin Price Technical Indicators Suggests An Uptrend In Future
The weekly technical chart of the NANO coin price suggests a strong upside momentum for the future.On coming to the daily chart, NANO price is trading above 100 and 50 Daily Moving average and can soon the positive crossover. The 100 MA line is near $6.1, making it a temporary bounceback region for the coin. The bullish momentum of NANO coin price can see a halt near $8.
On the downside, support of the asset can be seen near $4. There is a formation of an accumulation zone on the daily chart. The price can see a new high in the upcoming days. NANO/BTC pair can see a breakout above the previous resistance in future.
Conclusion
NANO coin price is currently seeing a consolidated momentum and can soon see a new high. It might soon cross beyond $8 in the upcoming days. NANO/BTC pairs can also see an upside momentum in the upcoming weeks.
Technical Levels
Major Support:$5
Major Resistance:$8