Could Nano Drop in Price Even More

0
225
blockchain technology singapore

The coin formerly known as Raiblocks, has been struggling to maintain its price above certain support levels, leading many investors to state their fears about the coins possibility of dropping sometime soon. Raiblocks was recently rebranded worldwide to Nano, but this change did little more than prop the price up for a short term based on speculation and news reports. The coin has not been able to break through the support of $20 since it reached an all-time high only a month or so ago.



Don’t Forget to Join our FREE Text list! From Your Cell Phone Text the Phrase CRYPTO to 474747



The coin came under selloff pressure again in the range of $18, where many individuals decided that this was too high of a price for the coin. It seems that at the current moment, the coin is on track for support at $12, with resistance coming into play at the $20 level. If the coin is unable to stay above the level of $12, it could potentially drop even further to $10 where it could become bullish once more. If the coin is able to surpass the $20 range, an uptrend could form leading the price to the next resistance level of around $24 and then $26.



Don’t Forget to Join our FREE Text list! From Your Cell Phone Text the Phrase CRYPTO to 474747



$20 is the major point of resistance for many investors, and the coin has struggled to break through this high level of barriers. The hopes are that the coin will be able to maintain the attraction it has received from investors as a somewhat future proof currency. Many investors have stated that this is one of the coins that they hope to hold on to for the future as it has a large amount of promising technology. As the market on cryptocurrency is able to move out of its infant stages, the hopes are high that the coins with large amounts of promising technology will hopefully be the ones that remain.

LEAVE A REPLY

Please enter your comment!
Please enter your name here