Nano Price Holding Key Support at $10.00

Nano Price Holding Key Support at $10.00

Moreover, there is a key bearish trend line forming with resistance at $12.00 on the 1-month chart of the NANO/USD pair. Therefore, a break and close above the $12.00 is must for the current wave extension.

On the upside, above $12.00, the next resistance is around the 50% Fib retracement level of the last major decline from the $17.20 swing high to $8.20 swing low.

The current price action is positive as long as NANO is above $10.00. It may perhaps break the $12.00 resistance to gain traction. On the flip side, if the price fails to move past $12.00, there could be a downside reaction.

On the downside, the $10.00 support must hold. A break below the $10.00 level may open the doors for $8.00, which is the next major support.

To sum up, there are two key levels $10.00 and $12.00 (support and resistance levels). A break on the either side could trigger the next move towards $15.00 or $8.00.

Trade safe traders and do not overtrade!

11.03.2018 / 23:04 36
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