• The NANO/USD pair 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 the sideways trend zone. The NANO/USD pair 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 moving averages are trending horizontally. The crypto’s price is fluctuating below and above the EMAs. On June 26, the bears broke the lower price range but found support at the  $1.200 price level. A range-bound trader can trade a ranging cryptocurrency. A trader should initiate a long trade at the $1.2000 support zone  and exit near the resistance zone.

Similarly, you should initiate a short trade at the upper price range and exit near the support zone. The bears broke away from the range bound zone but the bulls took control of price. 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.