Nano (NANO) price continues to trade in a bull market. Here’s the next target for buyers

By: Stanko Iliev
Stanko Iliev
Stanko dedicates himself to providing investors with relevant information they can use to make investment decisions. He loves the… read more.
on Mar 13, 2021
  • Nano (NANO) could advance even more in the ongoing bull market
  • If the price jumps above $6 resistance again, the next price target could be around $6.5 or even $7
  • Bitcoin continued its surge and reached a new all-time high above $61,700

The cryptocurrency market is advancing this Saturday; Bitcoin continued its surge and reached a new all-time high above $61,700. This situation also supports Nano’s price, and in less than several hours, the price of this cryptocurrency has advanced from $4.9 above $5.40.

Fundamental analysis: The daily volume of Nano (NANO) continues to rise

This trading week has been very positive for the cryptocurrency market so far – Ethereum, Bitcoin, and Litecoin are leading this trend, and for now, there is no indication of a trend reversal. The daily volume of Nano (NANO) continues to rise, and the price of this cryptocurrency could advance even more in the ongoing bull market.

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Nano is decentralized and secure digital money that connects its users with the global economy with no fuss, no fees, and without waiting. Nano protocol has its cryptocurrency under the symbol NANO which has advanced more than 500% since January.

Nano network uses a lightweight and efficient consensus protocol with minimal energy usage. In this way, it reduces pollution while empowering individuals with the most efficient and accessible digital money possible.

Nano network is entirely risk-free whether you are buying goods at a store or making payments online. Nano continues to add new features for its community, and this March, it released a new version for both iOS and Android.

“We just released a new version for both iOS and Android with a number of minor improvements and new features we think the WeNano community will appreciate. Spot owners can activate visual verification, which requires a photo or short video to verify that a user visited a Spot to receive a payout,” Nano reported on its official website.

According to analysts, Nano has a bright future because it is still attracting talented developers that support this network’s global adoption.

Technical analysis: $6 represents a strong resistance level

Nano (NANO) has advanced from $1 above $7 since the beginning of January 2021, and the current price stands around $5.40.

Data source: tradingview.com

The main trend of this cryptocurrency remains bullish, and for now, there is no indication of the trend reversal. If the price jumps above $6 resistance again, it would be a signal to trade Nano (NANO), and the next price target could be around $6.5 or even $7.

On the other side, if the price falls below $4, it would be a firm “sell” signal and possibly a trend reversal sign.

Summary

The cryptocurrency market is advancing this Saturday, and this situation also supports Nano price. Technical indicators remain bullish, which suggests that NANO will probably continue its positive trend. Nano provides instant payments with no fuss, no fees, no waiting, and is widely available on many popular exchanges worldwide. The daily volume of Nano (NANO) continues to rise, and if the price jumps above $6 resistance again, the next price target could be around $6.5 or even $7.

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