The short and medium-term outlook is in the downtrend.
Traders may consider selling at key areas.

NANO/USD Medium-term Trend: Bearish

Supply zones: $1.80, $1.90, $2.00
Demand zones: $1.00, $0.80, $0.60

NANO is in a bearish trend in the medium-term outlook. The brief loss in the bearish momentum at $0.8646 in the demand area on 16th July returned the bulls with a bullish spinning top as the market opens yesterday. NANO spike up to $1.38 in the supply area during yesterday session.

The long wick in the candle suggests exhaustion and expected a bounce to the downside as the bears gradually enter the market with the coin down to $ 1.09 before the close of yesterday session. The momentum remained intact as the market open today with the inverted bearish pinbar formed at $1.15 shortly after opening.

NANO is currently down at $1.0 below the two EMAs and the signal of the stochastic oscillator points down at 50%. These suggest a downward movement of price in the medium-term. $1.000 in the demand area is the bears' initial target.

NANO/USD Short-term Trend: Bearish

The cryptocurrency is in a downtrend trend in the short-term outlook. The cryptocurrency was in a correction in the range after the fakeout that got the coin up at $1.38 in the supply area during yesterday session.

NANO was trading within the range after opening at $1.16 until the large bearish candle at $1.13 broke out from the lower line for the bears to resume the downward movement in the short-term.

Price was down at $1.05 below the 10-EMA. The signal of the stochastic oscillator pointing down at 25%, suggesting continuation in the downward momentum in price as the bears.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.