244 Interactions, 4 today
Nano has been losing ground in recent days, and Ontology seems to have been dismissed at the $1.93 resistance mark. Tezos has an ATH of $7.2 and could be poised for any stabilisation over $6 in the coming days.
Over the last few days, Nano has been trading in a descending channel. The 20-period EMA (white) was heading below the 50-period EMA (yellow), indicating bearish strain. The Supertrend tracker appeared to display a sell signal for NANO, which would only be reversed if the price closed above $5.72 during the session.
The price may expect to see some help in the $5.3-$5.4 range, although it is uncertain if NANO will be able to bounce off that amount. A trading session that is equal to or over the channel, followed by a retest of the upper boundary, may be used to join a long exchange. Similarly, if a measurement of the channel lows occurs, it may be used to join a scalp long exchange aiming for the upper boundary.
More than a week ago, ONT burst through the ascending channel and was compelled to retrace as far south as $1.78. Since then, the $1.83 level has held as support, while the $1.9 level has provided resistance to ONT.
Trading activity has been trending lower in recent days, which may be an early indication of ONT convergence between the $1.8-$1.9 ranges. Over the last 24 hours, the RSI has also been floating around the neutral 50 axis.
Tezos set an ATH of $7.21 and was facing support at $6.16 and opposition at $6.8 at the time of publishing. Following the surge ahead, the OBV was relatively down. A floor on the OBV was marked in white (the value is irrelevant; what matters is their relative position), and the OBV falling below this floor will signify a deeper retracement under $6 for XTZ.
The MACD was also retreating in tandem with the price, and at the time of writing, it was just above the zero line and going lower. This could result in XTZ re-testing the support.