- NANO might reward holders if the technical conditions mentioned below are met.
- NANO bulls are showcasing strength and thereby trying to interest buyers.
- NANO/BTC is trading at 0.0000890 BTC with an intraday change of +1.71% while NANO/ETH is trading at 0.001387 ETH with an intraday change of -0.43%.
NANO price is currently trading above all the significant 50, 100 and the 200 day moving averages which indicates that the bulls are in the play. The price is seemingly ranging between the 100 and the 50 day moving averages for the past couple of days. If the price continues to hold the 100 day moving average, we might see the price go above the 50 day moving average which is currently acting as resistance. This will fuel the bulls further and will attract buyers too.
The relative strength index(RSI) is suggesting a bullish momentum with the RSI standing above the normal zone. The RSI line is seen making a stride smashing the normal zone and is expected to stay above the normal zone for the next few days.
The moving average convergence divergence(MACD) is also indicating a bullish momentum with the MACD line above the zero line and the signal line just below the zero line. The histogram is also printing green bars showing the strengths of the bulls. If the MACD line continues to stay above the signal line we might see a price rise in NANO in the near future.
The fibonacci indicator is suggesting an immediate support at the $4.920 price level. The $4.223 and $3.098 price levels will come to play if the price breaches the immediate support. The $5.483, $6.045, $6.847 and $7.867 levels will be the resistance levels to watch out for.
NOTE: The moving average 50, 100 and 200 are in colour Yellow, White and Red.
The MACD line is coloured Blue while the signal line is coloured Red.
The important support and resistance levels to keep an eye on are:
SUPPORT: $4.920, $4.223 and $3.098
RESISTANCE: $5.483, $6.045, $6.847 and $7.867
TAKEAWAY: From the technical point of view, if NANO manages to stay above the 100 day moving average and breaks the immediate resistance suggested by the fibonacci, we might see NANO bringing smiles to buyers and holders.