Altcon Analysis: Latest in NANO/USDT

Nano, one of the top 100 altcoins in the Coinmarketcap ranking, draws attention with the momentum it caught in October. Altcoin, which has gained around 15 percent since the beginning of October, has been floating in parallel with the market trend in recent days. We evaluated the potential critical levels of the NanoUSDT this week.

Nano has lost nearly 50 percent since the end of August. It is seen that it found solid support at the average level of 0.7162 dollars in the last week of September and the first week of October. Recently, it has been struggling to break the price of $ 0.8160, a critical intermediate resistance.

If NanoUSDT closes the week above $0.8160, the next resistance level this week could move towards the $0.9287 level. This corresponds to an average increase of 10 percent. In this short-term trend, the 50-day moving average at $ 0.8376 is seen as the first hurdle, with no serious obstacle above this level.

However, the Nano price, which could not be broken at the $ 0.83 band tested in early October, was seen to return to the main support level of $ 0.71. Nano, which is currently in a new uptrend, continues horizontally at $ 0.81 levels. This week, the buy band of this horizontal trend stands at the 20-day moving average (0.7934) levels. If this support price breaks down, a decline towards the $ 0.71 band can be seen.

When we look at the latest situation of the stochastic RSI in the daily view, we see that it is in the overbought zone. As long as the indicator remains above this level, it will continue to support the upward movement. If the overbought zone goes below 80, which is the limit, it may indicate a downtrend.

The MACD DEMA indicator represents the horizontal movement with its current movement. If this indicator is in the positive zone, it can be considered as a strong bullish signal.

Disclaimer: The information in the content is not investment advice. Author is not responsible for your profit or loss. Every investment involves risks and requires knowledge.

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