[Trade Recommendation] Nano with Immense Upside Potential

[Trade Recommendation] Nano with Immense Upside Potential

Cryptocurrency technical analysis Trading
April 28, 2018 by Steve
Nano-Raiblocks

Nano is an infinitely scalable cryptocurrency with the instant transaction at zero fees. Former known as Raiblock, Nano enjoyed a 3000x run-up last year from under 1 cent to over 30 dollars. The hype and excitement are not undeserved as it already has an already operational mainnet that can support feeless and instantaneous transactions with up to 7000 TPS (due limitation in today’s hardware instead of protocol). Nano is able to accomplish this using the block-lattice architecture, where each account has its own blockchain (account-chain), equivalent to the account’s transaction/balance history. Each account-chain can only be updated by the account’s owner; this allows each account-chain to be updated immediately and asynchronously to the rest of the block-lattice, resulting in quick transactions.

Market Cap: $971 million

Current Price: $7.29

All time High: $34.32

Fundamental Analysis

With an already operational mainnet and active community, the team has been working on increasing the adoption of Nano as a payment solution, means of exchange, and trading pair. To this end, the development team is working on creating a mobile app to give users and payment providers an user-friendly way of transacting Nano. Due to Nano’s fast and free transactions, the coin is also used as the primary trading pair at the Nanex exchange. As the adoption and utility of Nano speeds up with the release of the mobile app so will the coins value.

Upcoming Events

April 30th Nano Air Drop
TBA Mobile App Release

 

Technical Analysis

Nano TA

Having fallen over 70% from its all time high, the project is bound to recover as altcoins continue their rally. Right now, the risk/reward ratio for entering Nano is great as it is one of the only alts that hasn’t taken off in the recent weeks. At worst it can drop 20% more and at best the strong tech and fundamental, the project can take it past its former high of $30 or 0.0025 satoshis. As the market continues to recover, a probable target for NANO is 0.0017 satoshis as the former high after its listing on Binance. Once a uptrend is established and the coin move past the resistance at 0.001 it should reach its target fairly quick due to the lack of established resistance above these regions.

Entry: 0.00075~0.00080

Target: 0.0017+

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