Altcoin traders are over the moon due to some of the recent market shifts taking place. In the case of Nebulas, its price has been on a tear lately, as multiple major value increases have been noted in quick succession. This latest trend pushes the NAS price to nearly $2, which will prove to be a key point of resistance.
Nebulas Price Rise is a Big Deal
Altcoin traders have not had the best of years so far. This is primarily because so many different currencies have noted strong losses throughout 2018, with no real improvement in sight either. Thankfully, it seems this ongoing bearish pressure is slowly coming to an end. Numerous currencies note strong gains in quick succession, and the Nebulas price has gotten on a lot of people’s radar lately.
To put this in its proper perspective, the NAS value has surged quite hard a few days ago. Over the weekend, the market remained somewhat flat, which is entirely to be expected. This week is off to another good start, by the look of things, courtesy of another 14.5% increase in USD value. NAS is also surging against Bitcoin, resulting in a 13.5% gain in that particular department.
Just last week, it became apparent Nebulas was going through a very bullish trend. An initial gain resulted in a price which reached a value of $1.78 without too many problems. That was, by the look of things, only the beginning, as a lot more positive momentum has materialized ever since. It seems to be a matter of time until Nebulas hits $2 at this rate.
— Bitcoin Intrinsic (@BitcoinTrinsic) October 1, 2018
About a week ago, there was a chart which showed Nebulas would be hitting the outer boundaries of a triangle fairly soon. Depending on how the price evolved, there would be either positive or negative price action this week. It is safe to say things have turned out alright for this altcoin, as the resistance has seemingly been broken to allow for this increase to $1.98.
— cryptojeanjacques (@cryptojeanjacqu) October 2, 2018
Finding the reason for this NAS price increase is not all that difficult. The recent Atlas airdrop announcement seemingly has a lot of people excited. If this news has anything to do with the current Nebulas price trend, it is not unlikely the value will continue to increase until the airdrop takes place on October 15th. An interesting week lies ahead in this regard.
— DPE (@zahlenundmuster) October 3, 2018
Even though the current trend looks promising for NAS speculators, the overall trading volume might not necessarily warrant much of a bullish outlook either. While $11.8m isn’t bad for a currency with a market cap of $90.2m, it might not prove sufficient to keep the NAS price party going for long. A lot can change in the coming 24 hours, although no immediate dip is expected.