• The NANO/USD pair is trading between the levels of $1.400 and $1.800.
• At the upper price range , if the bulls fail to break the resistance level, then a short trade should be initiated.

NANO/USD Long-term Trend: Ranging

• Resistance levels: $2.0000, $2.2000, $2.4000
• Support levels: $1.2600, $1.2400, $1.2200

The NANO/USD pair is in the sideways trend zone. The pair are sloping horizontally indicating that price is in a sideways trend. The NANO/USD pair is trading between the levels of $1.400 and $1.800. The crypto’s price is fluctuating below 12-day EMA and the 26-day EMA and has broken the lower price range to the support level at $1.2000.

The support level at $1.2000 is likely to hold, range bound traders should initiate a long trade and exit near the upper price range. At the upper price range , if the bulls fail to break the resistance level, then a short trade should be initiated.

The price of NANO is expected to range for a few more days because of the presence of small body candlesticks. The small body candlestick like the Doji and Spinning tops described the indecision between the buyers and sellers at the crrent market price. The stochastic is in the overbought region but above the 60% 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.