After the breakout that happened in 8/23-26 NANO entered a downtrend. On 8/29 it found support @ 0.0003700, bounced back up to 0.0004600 and then went down to around 0.0003700. It appears that this level was also one of the critical resistance points in the past. If it can hold, I will consider reentry. If this support fails, next important support should be found around 0.0003158 sats. Volume has been decreasing since the rally, RSI is nearing oversold area.
P.S. Lately I have been using the 20 Moving Average which seems to be a helpful tool in deciding when to buy or sell, it can be used as a confirmation when the price crosses over the line going up consider buying, alternatively if the price crosses over the line on the downtrend consider selling.
P.S. Lately I have been using the 20 Moving Average which seems to be a helpful tool in deciding when to buy or sell, it can be used as a confirmation when the price crosses over the line going up consider buying, alternatively if the price crosses over the line on the downtrend consider selling.
Comment:
NANO went slightly below my line of support during huge BTC washout the other day but quickly bounced up. Now still trending slightly below. If NANO can't hold these levels next major support is around 0.0003400 and 0.0003000. Be on the lookout for a good entry point!
Comment:
Reentered @ 0.00028; will see where this takes us
