Nano (NANO) Price Analysis: Nano Price Reaches The Safe Spot Of $0.60

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • Nano coin is again set for making an attempt to break the crucial spot of $0.70.
  • The coin is having significant bullish momentum for the consecutive day with positive NANO/BTC pair having an overall gain of 1.07% with a level of 0.00007691.

Source: Coinmarketcap

After breaking below the crucial level of $0.60, the nano coin was facing a significant downtrend in the market. The downtrend continued until it reached the major support level of $0.52. The support level provided the expected positive momentum to the altcoin. However, the resistance of $0.55 again halted the bulls. The overall bullish nature in today’s market helped the cryptoasset break the resistance level and now aiming for $0.70.

The current price of nano is $0.60 with the market capitalization of $81,024,435 with the volume trade of $2,869,973. Nano coin was at its year-high during the month of February and the price level was around $1.50. Since the overall market conditions are on road to recovery from the starting of this month, investors can opt for this cryptoasset for long-term investment and sustainable returns.

Nano (NANO) Technical Analysis

Screenshot (271)
Source: Tradingview

The technical chart reflects on the price recovery made by the cryptoasset from the starting of this month. It is the reason to become one of the top picks for investor’s portfolios. On the technical aspect, breaking the resistance level of $0.50 can provide more potential to the bulls to build a rally from hereon.

The 24hr- RSI is showing positive nature with the bullish level of 60. A forward reach to the level of 70 will provide more positive momentum to the altcoin.

The 24hr- CCI had a positive divergence from the oversold region and now prevailing in overbought territory. This indicates that the cryptoasset has the potential to avoid any further downfall. With the positive nature, it also looks to ensure sustainability at the price level.

The MACD levels, however, are downtrending to the bearish zone but can have a sharp positive turn to the bullish zone with the strong buying momentum coming for the coin.  

Resistance level: $0.70

Support level: $0.60 and $0.58

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