Price Analysis: The Rising of the NANO Market

Cryptocurrency Price Analysis: Cardano, XRP, and Stellar

Resistance Levels: $0.92, $0.98, $1.02

Support Levels: $0.86, $0.080, $0.75

NANO/USD Medium-term Trend: Bullish

NANO/USD is on the bullish trend on the 4-Hour chart. NANO was under the pressure of the bears for more than ten days started on January 26 at the resistance level of $1.09 and the coin was making lower lows down the market, the bearish momentum was exhausted on February 6 at the support level of $0.75.

NANO price consolidated for a few days, the bulls gained pressure and the coin pushed up to break the resistance level of $0.86 and then rallied towards the $0.92 resistance level where it was rejected to carry out pullback and then continue its bullish trend.


NANO is already exposed to the resistance level of $0.92 and it is currently trading above the 21-day EMA and 50-day EMA. The 21-day EMA is crossing the 50-day EMA upside confirming the upward movement of the coin. The Relative Strength Index period 14 is above 60 levels with the signal line pointing downward which implies a sell signal.  

The increase of the bullish momentum will lead to the breakup of the $0.92 resistance level which may place the NANO price at the high of $0.98 resistance level. Should the former mentioned resistance level holds, NANO price will range towards $0.86 – $0.80 price level.

NANO/USD Short-term Trend: Bullish

NANO/USD is on the bullish trend on the short-term outlook. Sideways movement on the NANO market started on February 10 – February 12 within the range of $0.86 and $0.80.

The bullish engulfing candle formed triggers the bullish momentum which broke up the $0.86 price level, the coin rallied towards the $0.92 price level but unable to break up the level. As at now, the coin is carrying out price retracement before it resumes its uptrend.  

The 21-day EMA has crossed the 50-day EMA upside and the NANO is currently trading above the two EMAs which indicate a bullish momentum on the NANO market. However, the relative strength index period 14 is below 60 levels pointing down which connotes sell signal.

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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.