NANO Price Prediction Today: Daily (NANO) Value Forecast – July 12
- The medium-term outlook is in a bullish trend while the short-term is in a range-bound market.
- Patience is required trading the consolidation.
NANO/USD Medium-term Trend: Bullish
Supply zones: $1.80, $1.90, $2.00
Demand zones: $1.00, $0.80, $0.60
NANO is in a bullish trend in the medium-term outlook. The bears lost momentum at $1.05 in the demand area a pip away from the target at $1.04 predicted in yesterday analysis. The doji formed at the demand area as the market opens today signaled at $1.10 signaled a trend reversal as the bulls gradually returned. Price rose to $1.17 in the supply area with the formation of a large bullish candle due to increased bullish momentum.
The upward movement in price may continue to the trendline at $1.50 in the supply area a target by the bulls in the medium-term. This was further confirmed by the signal of the stochastic oscillator that points up at 25%
Price was briefly above the 10-EMA before it fell back to $1.13. A breakout from the resistance at the 10-EMA may occur with stronger pressure on the coin by the bulls coupled with candles opened and closed above the EMAs.
NANO/USD Short-term Trend: Ranging
The cryptocurrency is in a bearish trend in the short-term outlook. The bears sustained the momentum before the closed of yesterday session by hitting the target at $1.05 predicted in yesterday analysis.
The bulls took over the market dominance as the market opens today at $1.10 with a push of price to $1.17 as the coin goes into consolidation.
The cryptocurrency is ranging and trading between $1.20 in the upper supply area and at $1.05 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.
Live Nano (NANO) Price:
1 NANO/USD =$5.0398 change ~ -5.70%
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