NANO Trading Analysis – Nano up 51%, Holding Strong Position to Breakout from Resistance

NANO has already gone up over +51.55% this month, and the trading analysis suggests that there might be another wave incoming. Let’s take a look at NANO and what the charts are telling us.

What is Nano?

Nano is a digital currency for the real world – the fast and free way to pay for everything in life, with instant transactions, zero fees, and a scalable network.

Nano Quick Stats

Symbol:Nano
Global rank:78
Market cap:$203,749,249 AUD
Current price:$1.52 AUD
All time high price:$50.97 AUD
1 day:+8.69%
7 day:+51.55%
1 year:+37.63%

Nano Price Analysis

At the time of writing, Nano is ranked 78th cryptocurrency globally and the current price is $1.52 AUD. This is a +51.55% increase since 21 November 2020 (7 days ago) as shown in the chart below.

Source: TradingView

If we see the 1-hour candle chart, Nano just bounced back from its support levels of $1.0120 AUD and holding its position strong for the breakout from the next resistance which is at $1.6150 AUD. The blue line is acting as a support level for this Ascending triangle trend.

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“An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns.”

Source: TradingView

What do the technical indicators say?

The NANO TradingView indicators (on the 1 day) mainly indicate Nano as a buy.

Recent Nano News & Events:

Where to Buy or Trade Nano?

Nano has the highest liquidity on Binance Exchange so that would help for trading NANO/USDT or NANO/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

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