- On May 30, the bulls tested the upper price range and the price made a downward correction to the support of the EMAs.
- The price of NANO is trading between the levels of $1.400 and $1.800.
NANO/USD Long-term Trend: Ranging
- Resistance levels: $2.0000, $2.2000, $2.4000
- Support levels: $1.4000, $1.2000, $1.0000
The price of NANO is in the sideways trend zone. On April 23, the NANO market reached the $1.94 overhead resistance level. On April 24, the bulls were resisted and the NANO market was in a downward correction to the $1.400 support level. The price of NANO is trading between the levels of $1.400 and $1.800.
The 12-day EMA and the 26-day EMA are sloping horizontally. The crypto’s price is trading under a tight range. On May 30, the bulls tested the upper price range and the price made a downward correction to the support of the EMAs. On June 2, the bulls came back to retest the upper range and were resisted again. The price fell to a lower price range.
Yesterday, at the support level, the bulls were making a fresh bullish move to retest the $1.8000 price level. Nevertheless, a bullish break at the $1.800 price level, will enable the crypto rally above the $2.00 price level.
Similarly, a bearish break at the $1.400 price level will depreciate NANO price to a low of $0.8000. The stochastic is in the oversold region but above the 40% range which indicates that the price of Nano is in a bullish momentum and a buy signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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