• The coin is trading between the levels of $1.400 and $1.800.
• The market was on a downward correction to a low at $1.400 from its $1.94 overhead resistance.

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 a sideways trend zone. The coin is trading between the levels of $1.400 and $1.800. The market was on a downward correction to a low at $1.400 from its $1.94 overhead resistance. The 12-day EMA and the 26-day EMA are trending horizontally.

The crypto’s price is fluctuating below and above the EMAs. A range-bound trader can trade a ranging cryptocurrency. A trader should initiate a short trade at the upper price range and exit near the support zone. Similarly, you should initiate a long trade at the lower price range and exit near the resistance zone.

A trader will earn partial profits as long as the crypto continue its range bound move. The price of NANO is likely to encounter a price breakout or a price breakdown. The stochastic is in the oversold region but above the 20% 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.