NANO Price Prediction Today: Daily (NANO) Value Forecast – June 7
- The short-term outlook is in a bullish trend while the medium-term outlook is in a range-bound market.
- Buying at pullback areas may b considered.
NANO/USD Medium-term Trend: Ranging
Supply zones: $1.80, $1.90, $2.00
Demand zones: $1.00, $0.80, $0.60
NANO continues in a range-bound market in the medium-term outlook. The bear control of the market was extended until $1.40 in the demand area due to exhaustion denoted by wicks at the lower price range. The bulls returned was confirmed by the large candle at $1.44 as NANAO rose to $1.90 before the close of the yesterday session.
The bulls continue the journey up shortly after today’s opening price at $1.50 pushing price further high to $1.90 within the range.
Price is above the 10-EMA and the stochastic oscillator signal points up at 72% an indication of upward momentum and a possible breakout at the supply area in the medium-term.
The cryptocurrency is consolidation and trading between $1.60 in the upper supply area and at $1.42 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.
NANO/USD Short-term Trend: Bullish
The cryptocurrency is in the uptrend in the short-term outlook. The predicted $1.40 low of the day was attained in the demand area during yesterday session before the bulls gradual retuned. NANO was up at $1.48 in the supply area before the close of the session.
The momentum was sustained as the market opens today with a large bullish candle at $1.47 as the trendline was retested again. A breakout occurred pushing the cryptocurrency price to $1.52.
Price is up at $1.56 above the two EMAs and the stochastic oscillator is in the overbought region. The journey up north may continue with $1.90 as the bulls initial target.
Live Nano (NANO) Price:
1 NANO/USD =$10.7198 change ~ -13.89%
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