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- Nano coin is having significant positive momentum with the help of overall market sentiments.
- The NANO/BTC pair is also performing significantly positive with a gain of 4.19% bringing the current level to 0.00007457 BTC
As the weekly chart indicates, the Nano coin was not showing any significant movement in the price levels. However, with the help of the significant bullish move in the overall market on Tuesday’s market, Nano also gained a significant bullish move. With the help of this positive move, the crypto asset started from the price level of $082 where it was kind of consolidated and reached $0.88 strongly targeting the major resistance level of $0.90. The bullish move has also saved the price levels from getting strongly consolidated.
Technical Levels Taking A Positive Turn For Nano
The technical chart highlights the significant downtrend faced by Nano from the past month which started from the bullish level of $1.30 and ended up at the critical support level of $0.60. The crypto asset is yet to make a significant price recovery action in the market thereafter. Currently, the price levels are facing major resistance of $0.90 which is placed at 0.382 on the retracement chart. Any break above the level will surely indicate a significant bullish move further ahead in the market.
The directional movement index is recovery its levels with positive sentiment as ADX(22.58) had a positive crossover with -DI(11.92).
The commodity channel index recovered the levels from the oversold region and reached the overbought region in no time with the current level of 192.49.
The relative strength index avoided the oversold regions which is a positive sign and got a break into the overbought region. The levels are showing bullish nature standing at 66.97.
Will NANO Break Resistance Level of $0.90?
The resistance level of $0.90 looks very strong for the cryptoasset. However, at the same time, the technical levels are also showing no signs of reversals which means that if the overall market conditions favor the cryptoasset, we may expect it to beat the resistance mark.
RESISTANCE LEVEL: $0.90
SUPPORT LEVEL: $0.65 & $0.60
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Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
