On Saturday while the markets were under serious pressure cascading lower, we did not have a buy signal because the MACD was very strong to the down side on the four-hour chart.
Right now, the 20EMA line is a key resistance for the price, so after the transition from a bull to a bear market this may be a a reason to sell or don't open a long position before we will see any positive divirgence from MACD and the RSI will rise above 50 level on the 1-Day card.
The four-hour chart shows more closely the transition from a bull to a bear stock market. So far, the 20EMA is the primary resistance levels for this view of the bear market and 100EMA is our support line.
the RSI is at 46. If it falls further, it will be a sign of a downtrend. The MACD turned down through the centerline, a sell sign. When the MACD reaches the zero level, a sign of weakness.
Conclusion. I will wait for the spike and a combination signs from the RSI, MACD and EMA to understand what's next with the price of NANO coin.
Right now, the 20EMA line is a key resistance for the price, so after the transition from a bull to a bear market this may be a a reason to sell or don't open a long position before we will see any positive divirgence from MACD and the RSI will rise above 50 level on the 1-Day card.
The four-hour chart shows more closely the transition from a bull to a bear stock market. So far, the 20EMA is the primary resistance levels for this view of the bear market and 100EMA is our support line.
the RSI is at 46. If it falls further, it will be a sign of a downtrend. The MACD turned down through the centerline, a sell sign. When the MACD reaches the zero level, a sign of weakness.
Conclusion. I will wait for the spike and a combination signs from the RSI, MACD and EMA to understand what's next with the price of NANO coin.