Hourly chart shows a symmetric triangle with price moving towards the upper trendline which can be a signal of price moving higher at least short term. Next strong resistance point is around 0.0002800 and after it's around 0.0002900. Support is around 0.0002700 and 0.0002500 should we see price moving below the lower trendline. Any thoughts?
Comment:
Price shot up through both the 0.0002800 and 0.0002900 resistance levels almost passing 0.0003160 resistance but was rejected before then. RSI is in overbought territory as of this comment therefore I'm expecting price to revisit 0.0002900 levels before making new highs.
Comment:
It appears as price found support at previous resistance 0.0002800 which coincides with 50 day MA; at least for now. RSI is in neutral territory but it may need to come down to 39.09 area as it did in the past prior to next major move, meaning that we will most likely see lower price levels for NANO maybe around 0.0002700 or lower. BTC took a beating overnight which is probably affecting nano as well.
I think Nano has a potential as a cryptocurrency, fast xfers, zero fees, and if TPS gets high enough along with scalability future looks good. One issue is privacy since it is not built in from the beginning, it may become its cryptonite if it cannot be implemented in future.