Nano (NANO)
1. Fundamental Analysis
1.1 Introduce
Nano is the digital currency for the real world – the fast and free way to pay for everything in life. Nano is a trustless, low-latency cryptocurrency that utilizes a novel block-lattice architecture, where each account has its own blockchain and achieves consensus via delegated Proof of Stake voting.
1.2 Basic Info
| Name | Value | Name | Value |
|---|---|---|---|
| Symbol | NANO | Market Cap | 162615859.2 |
| Name | Nano | White Paper | -- |
| Web Site | https://nano.org/ | Is ICO | None |
| Wallet | -- | Raised Funds | - |
| Source | -- | Distribution | - |
| Explorer | Algorithm | -- | |
| Forum | -- | Proof | -- |
| Mining | Total | 133248290 | |
| Supply | 133248290 | Release Date | 2018-02-02 |
| Available Supply | 133248000 |
2. Technical Analysis
2.1 Kline Chart
2.2 Analysis
The most recent trading day on January 1, 2025 shows a significant bearish candle with a close at 1.2231, notably lower than the open at 1.2642, as well as the prior day’s closing price. This large bearish candle with substantial volume demonstrates strong selling pressure during the period. The price has experienced a sharp downward trend recently. There was a significant price drop between December 23, 2024 and December 20, 2024 and the following period, indicating a recovery phase was in place until December 28. The trading period between December 28 and December 25 showed a strong bullish trend, reaching a local high around 1.56. The subsequent period showed a slow decline in price, and this sharp turn bearish on January 1, 2025, indicates a trend change towards further downside movement.
The period between December 17 and December 10 showed a significant uptrend with prices going from 1.78 to 1.9995 in a relatively short period. Specifically between December 17 starting at 1.78 to Dec 12 at 1.8199, price saw a strong and swift surge, peaking at 1.9995 on December 8. The price then started consolidating in December 7, before making a small dip and recovering slightly, then ultimately dropping significantly. The high volume on December 30 and December 28 highlights strong market conviction during those days. The extremely high volume on December 30 indicates a significant turning point which started the recent trend down. The decrease in volume following December 28, indicates a declining interest as the prices recovered from the downtrend and is now experiencing pressure. The low volume on the last day combined with the price action suggests that downwards is the likely direction in the short term.
In terms of predicting future trends based solely on the provided data, the recent bearish surge and decrease in volume may indicate a continuation of the downtrend in the short term. Resistance levels need to be identified to determine future trends, but a significant drop has been confirmed from the previous day’s trading session. Based on the current trend and without further information, a cautious approach is advisable, with expectations of lower prices prevailing. Traders should pay close attention to the development of price and volume. A break of the low of the 1st of January with high volume should indicate a very high probability of further downside pressure. Conversely, a rally after the close on the first of January, with a significant increase in volume, should indicate a potential short term bullish return. The volume in the last day is also significantly below others which could indicate a consolidation period. Overall further downside pressure is more likely than not, in the short term and based solely on the provided data.
