• The short and medium-term outlook is in the uptrend.
• Responsible buying at pullbacks may be considered.

NANO/USD Medium-term Trend: Bullish

Supply zones: $2.00, $2.50, $3.00
Demand zones: $1.00, $0.80, $0.60

NANO remains in a bullish trend in the medium-term outlook. The bullish momentum was temporarily lost at $1.47 in the supply area during yesterday session. This was due to exhaustion and formation of a bearish spinning top a reversal signal. The was the beginning of the market correction of the impulsive movement as the bears regained control of the market.

The bears held on as market opens today at $1.38. The cryptocurrency is down to $1.32.

The signal of the stochastic oscillator points down at 72% while price is above the two EMAs. This suggests a downward movement to the previously broken supply area now a demand area before the rally resume in the medium-term. $1.70 a key supply area remain a key target for the bulls as the journey up north continues.

NANO/USD Short-term Trend: Bullish

The cryptocurrency continues in an uptrend in the short-term outlook. $1.43 in the supply area was yesterday high as the bulls dominated the market. The bears briefly took control of the market as it opened today at $1.41 and pushed price down to $1.32. This was the 38.2 fib area a trend continuation zone, meaning the bulls may resume upward price continuation from this area.

Price is above the two EMA and the signal of the stochastic oscillator undefined at 25%. The wicks in the candle at the fib area signaled bearish exhaustion and the bulls may retune for a retest and breakout at the previous high of $1.47 with $1.55 in the support area as the target in the short-term.

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