NANO Price Analysis: Nano Coin Price adds +41% Intraday Gains and Jumped Above 20-SAM

• Nano coin price showcasing a bullish momentum in the weak market sentiment and is sustaining above 20-DMA
• The coin is in bullish momentum and is trading above all vital moving averages of 20, 50, 100 and 200-day 
• The pair of NANO/BTC is trading positively with massive gains of +51% standing at 0.0002355 BTC, while NANO/ETH also increases nearly +49% sanding at 0.003074 ETH

Nano coin price is trading with massive intraday gains of +41% and is presently trading with good volume traction. While, the coin is currently sustaining above all major moving averages of 20, 50, 100, and 200-day. Whereas 50-DMA is acting as good support and closing of day candle above 20-SMA will boost more gains. Meanwhile, good volume traction is seen over the monthly chart which is above the average line. Support on the lower side is at $7.85 and $6.50, likewise, resistance on the higher side is at $14.45 and $16.60. Moreover, the breakout above $14.45 will create more bullish momentum till $16 and $18 in upcoming trading sessions. 

NANO price jumped after this tweet from an official account of NANO about “Jump over to our nano subreddit for a high-level explanation from George Coxon of what to expect from the upcoming nano V22 release.”

Technical Parameters in Favor of Bulls But with Caution

Over the weekly chart Nano price, has built three bullish candles with good volume traction, it seems bulls are active after the announcement. While the coin is trading near the 52-week high of $14.45 with all technical parameters in favor of bulls. However, NANO seems overheated after news and some correction can be seen in the short term. Meanwhile, the overall long-term trend is still in favor of bulls. The coin is currently trading at $12.29 with intraday gains of +41% and volume also jump significantly by +982% standing at $936,868,534. 

Relative Strength Index (CAUTION) indicates positive momentum while trading at 72.62. However, NANO, after a sharp surge, can see some pullback from higher levels, and RSI also reached inside the overbought zone

Moving Average Convergence Divergence (CAUTION) currently indicates a bullish trend on the daily chart, as it is trading with the significance of the buyer’s signal line (green) over the seller’s line (red).  

Support levels: $7.85 and $6.50

Resistance levels: $14.45 and $16.60

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