Home Daily Analysis Crypto Market sentiment NANO Price Action Start to Be Controlled by the Bulls

NANO Price Action Start to Be Controlled by the Bulls

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NANO/Tether price has been moving downwards since July, 29 after making a double top. Then it tried to recover on August 4 with a bullish candle on high volume. That movement was faded again by the sellers which drove the price to a new low making a kind of pennant-like pattern.


Today, the price has made two 4H bullish candlesticks that put the price above that pennant-like structure. Meanwhile, the MACD is shifting to a bullish phase, and the price moved above the 1.1420 level. A level which acted as a support a couple of times.

If the price holds above that level, it can be an excellent place to consider going long on this coin ( the current candle will take still a couple of hours to complete).

The price moving below 1.089 would invalidate this scenario. Cautious investors would consider waiting till the price is above the +1 Bollinger band shown in the chart before risking money here.

 

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