Hey, I am back with another Technical analysis this time looking at NANO .
NANO - Instant transactions -Zero fees - Infinitely scalable. Sounds good to me.
That was in short about NANO.
Taking look at the chart.
There is a Pennat breakout Pattern that has formed. NANO has been consolidating for a long time. Found strong support at 7,000 where it have seen a strong impulsive bounce, which is a great, shows high demand for NANO at lower price levels. Currently NANO has to beat known ressistance of 9,400 sat.
Taking look at Indicators.
MACD low volune buyers slowly leaving, may come back soon at the bottom line of the pennant, kinda bearish but thats not a bad signal, if NANO wont fall under the pennant by a lot - weak sell signal, not a good buy now even though 9,000 looks strong. RSI needs to stay above 53 to remain bullish. Stoch shows bearish divergence for now.
I think thats about it.
Hope I made your view on whats going on with Tron somehow clearer. If you like this TA let me know in the comments, Likes are aprreciated, Thanks !
If this gets a little bit of attention, I will update!
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has almost break up, but ressistance looks strong. Looks more like ascending triangle now.