Watch this major support level on Ethereum to see if it holdsETH has been getting absolutely crushed this week, both in dollar terms and in Bitcoin terms. As you can see, ETHUSD is now testing whether it can hold the 200 EMA, which in my experience is a really key support level. If ETHUSD can't hold this level, then the next stop is about 1440, with additional supports at 1115 and 730.
The Ethereum/Bitcoin ratio is also testing a key support at the 50 EMA:
Ethereum has strongly outperformed Bitcoin this year partly because there was a bit of a speculative bubble in ETH-based coins traded on Uniswap, and partly because ETH is expected to go proof-of-stake before the end of the year. The proof-of-stake merge would make Ethereum dramatically more environmentally friendly and would dramatically reduce transaction fees.
Bitcoin has (rightly) been getting lots of bad publicity because of how horrible the proof-of-work consensus mechanism is for the environment. Bitcoin basically destroys the planet by design, and personally I think the sooner it gets utterly trounced by the competition and utterly wiped from the face of our polluted planet, the better it will be for everyone. Even Elon Musk has recently come around to how awful Bitcoin is for the environment (although I suspect his motives in denouncing Bitcoin really had less to do with environmental impact than with the hole that Bitcoin left in Tesla's balance sheet because Tesla can't book Bitcoin as profit). We're seeing a significant regression to the mean right now, though, with Bitcoin greatly outperforming ETH.
The "cryptocrash" has of course been driven by the Chinese government's crackdown on cryptocurrencies and by the US government's efforts to impose regulatory oversight on the market. A trillion dollars of crypto market cap were wiped out this week. The news is bad enough and crypto is overvalued enough that I suspect ETH ultimately won't hold its 200 EMA support here, though we're likely to get a short-term bounce. We may see a prolonged period of weakness in crypto as traders wait to see how the regulatory crackdowns shake out, but we won't see the same rapid downward momentum we did this week. ETH is likely to return to strength against Bitcoin, however, as the ETH2 proof-of-stake merge progresses. Bitcoin will eventually die of a terminal failure to innovate.
I also expect that Cardano will continue to outperform Bitcoin, and possibly also ETH. Cardano is already proof-of-stake, and like ETH, it has a lively developer community. Cardano was created by academics and has been the subject of something like a hundred whitepapers. The Cardano community has raised several rounds of funding for development, the most recent in excess of a million dollars. Most alts will eventually go to zero, but Cardano is robust enough that I think it has a real chance of challenging the market leaders.
Another coin I'm keeping an eye on is Nano. Nano is a feeless proof-of-stake coin with extremely fast speeds and extremely low energy demands. However, the Nano network operates on a completely volunteer basis, with no compensation for running a node. This is the coin you invest in if you're optimistic about the human race, and you believe that people will do work without getting paid. Nano has recently struggled because its volunteer network isn't robust enough and has been getting shut down by a barrage of spam.
The cryptocrash has reduced crypto's market cap from about $2 trillion to about $1 trillion. Ultimately I think that's still way too high a valuation for what is basically a glorified wire transfer service. But the crypto hype isn't over yet, and we will almost certainly see some strong rallies later this year as the technologies continue to progress. I do think it's time to be very selective about which coins to buy, though, because the technology is maturing and we're seeing the emergence of clear technological and market leaders, and the coins that experience the worst government crackdowns moving forward from here will be the ones with the largest environmental costs.
NANO
If BTC runs, Nano partiesIt is squeezing up against the ceiling and has attempted to break out a couple of times prematurely. It's a stinker
$NANO = Bullish.This is where you would wanna buy at. Broke downtrend.
Now we can trend up for a while. $30+ is going to happen.
Nano, Continuing the uptrend!After it's last breakout, #Nano retraced back towards the $10 where it found a nice support there, retested it again forming what we hope to be a double bottom, this double bottom won't be confirmed until we break out of the bullish flag pattern that has been formed while retracing.
The volume here is still low, so need some more volume beside a candle close above the 12$ to confirm our idea.
Our initial target for this trade will be 15$
Critics and discussion are welcomed.
NANO/USDT analyse BinanceI think under 4-5 it's undervalued. has nearly 134millions coins that every last of them has been released, it's very good. and the project is working about to get fast transferring with zero fees etc. I would choose this one as 5 % of my portfolio. my long-term target is nearly 25-30.
NANO new rangeIt is rumored that Nano will be the pick of the now infamous Elon Musk as the cryptocurrency of the future.
Bullish engulfing 4H candle on multiple supports, likely heading for the range resistance. Another extended pump in alts is questionable at the moment as the majors have suffered decent pullbacks. A pump now in majors can be a dead cat bounce, must wait and see.
Eyes on Nano | 500-1000% potential | Long | NanoBtcEyes on Nano
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Daily
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Market Cap ₿31,079
24 Hour Trading Vol ₿7,246
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Green = Resistance
Red = Support
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All-Time High in ₿0.00219674 - Jan 2018
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TP as per your choice.
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Stay safe!
$NANO broke out & retested! As you guys can see in my previous post i mentioned $NANO pumping and if you follow me you would’ve caught $NANO at $5-7.
SO NOW- NANO IS RETESTING LAST RESISTANCE AND MAKING IT SUPPORT FROM HERE IT SHOULD BE A GOOD TIME TO BE IN NANO AS WE ARE GOING $23-$40 this year. Do not miss the opportunity. Spot holding for me.
NANO: buying the breakout! (+40%)After yesterday's crash we are looking at a stabilizing market for the major coins. I do not expect massive gains for the majors as of for now rather a "get back on your feet / sideways" kind of market for them. Which takes us to a market where smaller cap coins will outperform the majors. We went from a BTC market to alts (all of them) to major alts and now to smaller alts that will outperform most of the market. For this reason and recent news and "happenings" I think Nano is a very interesting choice.
Nano is currently breaking crucial resistance and is now very oversold after yesterday's pump. The project is promising with fast and feeless transactions and I do agree with Elon on one thing: we need to care of our planet. (so we don't have to go to Mars)
Nano is still a very low cap coin ( I thought it was much more actually) with just 1,5bn (which is nothing compared to any "famous / popular" coin out there). Given this coin will get much more attention now and has bottomed out after yesterday's pump; we should at least see a retest of 3.618 with is a +40% gain by itself. Support and follow through from there will take us to new ATH's. So it looks healthy from here and a good buy opportunity in my opinion. The following weeks will show what is the potential, would it be impossible to go to lets say a 3bn market cap? In the current market, I think that's realistic and would mean a 2x. But first lets see for the coming days. I'll update along the way.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
If $12.50 breaks, Look out Below!!!I know Nano seems to be going up while others are going down, but I am confident that gravity will take hold and it will follow the rest of the market. Could be a great short opportunity but I don't think you can short it.
Elliott wave count appears complete as well.
$5-6 is the target.
Not financial advice.
NANO Cup and HandleNANO/USDT is forming a cup and handle at 30min chart.
In a Tweet by Elon Musk that he is looking for a better solution for bitcoin and any other cryptocurrency mining to use sustainable energy, BTC dropped abruptly so with other cryptos. On the other hand, there is a massive pull up on NANO. NANO is a top pick as one of the leading energy efficient and eco-friendly cryptocurrencies of 2021.
NANO Pumped!Salve
Nono mooned! lets what is Nano
Nano, a low-latency cryptocurrency built on an innovative block-lattice data structure offering unlimited scalability and no transaction fees. Nano by design is a simple protocol with the sole purpose of being a high-performance cryptocurrency. The Nano protocol can run on low-power hardware, allowing it to be a practical, decentralized cryptocurrency for everyday use..plus make sure you entre in right time after this pump
targets 15.5-16-18-20
stop loss 13-12
Ciao
Market going crazyLast time I talked about NNDM is determining the value of NNDM after their acquisition, which is bullish for the company and believing it should valued at a $10 stock. We look at NNDM and show there's no fundamental change in the long term price action, yet we can assume we might not get the gains we want in the market until the fall. According to market watch cash on hand is 671million and liabilities are 689million and adding these together gives 1.360billion dollar, yet the stock market values the company at a billion dollars. They are losing money due to the pandemic, yet they have enough cash to be sustainable. I did take profit on some NOVN shares still at a profit, yet decide to take a bite of NNDM and bought over 300 shares. I think atm the market is under valuing certain assets, yet retail traders don't care, which can be seen in erc20 scam coins, leaving btc and going into AMC atm, and along with NANO cryptocurrency which is still sub 50 in ranking marketcap. I'm not saying I'm not a fan of AMC or NANO, but think theirs value in stocks like NNDM that are so low it makes hedge funds that are buying cry tears of joy.
Technicals have no rhyme or reason in the current market besides being oversold and undervalued.
🎈😱The Elon Tweet and what to Buy NOW!!! 🐾😼WATCH THIS 😽🐾What a night it was....
watch this video; it will help you have a bit of an education on such situations (how to stay calm, think and react fast)
Also, what Elon said was just FINE! The timing though was criminal offence, straight up robbery, manipulation.
Let me know your thoughts.
the FXPROFESSOR
$NANO catches the bid in a red market.Nano, formerly RaiCoin, has been around for a while, and it appears to be a functionally superior coin.
I learned a long time ago that the average person’s self serving mechanisms, see greed, are much stronger than whatever might drive them to make long term socially beneficial decisions. For that reason I don’t think this will be the big winner.
But who knows maybe this is the point in time when humanity turns it around and doesn’t look back. Then I can be the bad guy until the end of time (because I didn’t believe you had the ability to make good choices. You’d better hurry up and prove me wrong.)
I think there’s a couple more dog coins you can probably invest in.
✨NANO- Eco friendly concept pays dividends💚🍏Despite last night's frustration with Elon Musk tweet we were 'calm and focused enough' to do this: 'Ok, let's see WHO BENEFITS from this eco-friendly attack on Bitcoin!''
And the answer was given by the chart: NANO!!
So, NANO is rising for the simple fundamental reason that Elon Musk's tweet favored the concept of eco-friendly crypto payments.
Let's go Nano!
Check the links on last night's idea below:
''One Nano booster, Patrick Luberus, counters that his preferred altcoin is the “fastest cryptocurrency” and uses just one-10,000th of a kilowatt-hour per transaction, as compared with the 600kWh per Bitcoin transaction. ''
''With Bitcoin's energy consumption at the forefront of cryptocurrency discussions, now is the time to take notice of the eco-friendly alternative ''
the FXPROFESSOR
bearish harmonic shark pattern at $28shark harmonic pattern:
AB=0.38 XA
BC=1.6 AB
final target=2.24 BC=$28
NANO- Going Extra-Bullish after the dipNot sure why, just an observation.
Probably has to do with this :
''One Nano booster, Patrick Luberus, counters that his preferred altcoin is the “fastest cryptocurrency” and uses just one-10,000th of a kilowatt-hour per transaction, as compared with the 600kWh per Bitcoin transaction.''
and also this : ''With Bitcoin's energy consumption at the forefront of cryptocurrency discussions, now is the time to take notice of the eco-friendly alternative, $NANO!''
the FXPROFESSOR