It is somewhat worrisome to see Nano so far down the cryptocurrency market cap rankings. Although this altcoin has tremendous potential it seems its overall valuation will need a healthy nudge. So far, things are coming together, as a value of $2 is within reach once again.
Nano Price is Making Big Moves
It has been a while since people actively discussed the Nano value with any vigor. That may come to change rather quickly, as the altcoin is finally trending upward again This is a promising sign for all holders, and it offers a welcome relief for those who don’t own it as well. Altcoins are showing signs of life, which is usually a bullish signal for the cryptocurrency industry as a whole.
For Nano, the past 24 hours have been rather interesting overall. Although the price momentum is anything but spectacular right now, it is a relatively promising sign regardless. A 6% increase in value is sufficient to slowly push Nano back toward $2. There is also a 7% increase over BTC, further confirming altcoins should not be overlooked whatsoever.
Looking over social media it is evident there isn’t any real excitement just yet. Matteo Vigano wants to see more exchanges list Nano moving forward, albeit his Twitter poll isn’t having much success just yet. Either of the options listed would be quite interesting, albeit Coinvest might be the most likely outcome at this stage.
— Matteo Viganò (@mattevigano) October 16, 2018
A lot of traders are taken by surprise by this recent Nano price development. Crypto Rado assumed there would be some positive momentum, but this current uptrend is a lot steeper than presumed. It will be interesting to see if this trend can remain in place for long, as the overall trading volume isn’t too impressive at this time.
$nano $nano.x #nano #crypto #cryptocurrency
Nano suprised me with breaking upper blue line that is confirmation for bull.
Also now i expect we are going to retest mid of BB 2850sats best scenario would be that if nano hold 2900sats.But 90% chance to retest mid of BB. pic.twitter.com/kozslBMCQe
— Crypto Rado (@Crypto_Rado) October 16, 2018
DudeSignals sees merit in this current Nano uptrend. His advice of how all coins are pretty cheap right now certainly rings true, although not every asset is worth investing in either Nano is one of his picks, alongside some other currencies. For those looking at the long-term picture, any currency is worth buying under the current circumstances.
or you will probably need to set very low stop losses so they don't get hit easily.
— DudeSignals👨💼 (@Dudesignals) October 16, 2018
Whether or not Nano can surpass $2 later this week, is very difficult to predict. Current indicators seem to favor such a move, although markets can turn around at any given moment. Especially in this volatile industry, nothing is ever set in stone. Even so, there is still a long way to go for Nano, regardless of how one looks at it.