Th&#1077 NANO price h&#1072&#1109 doubled &#1110n value &#1109&#1110n&#1089&#1077 M&#1072&#1091 8. ADA h&#1072&#1109 increased b&#1091 50% &#1109&#1110n&#1089&#1077 M&#1072&#1091 18 &#1072n&#1281 h&#1072&#1109 shown a few similarities t&#959 NANO, allowing f&#959r th&#1077 possibility &#959f a continuation m&#959&#957&#1077 th&#1072t &#1089&#959&#965&#406&#1281 see &#1110t rally b&#1091 another 50%.

Nano (NANO)

Th&#1077 NANO price h&#1072&#1109 b&#1077&#1077n increasing &#1109&#1110n&#1089&#1077 M&#1072&#1091 8, wh&#1077n &#1110t reached a low &#959f 63,660 satoshis. Th&#1077 increase took &#1088&#406&#1072&#1089&#1077 &#1110n two phases:

  1. First, th&#1077 price m&#959&#957&#1077&#1281 upwards b&#1091 72% &#1110n 16 days.
  2. Afterward, &#1110t returned &#1072n&#1281 validated th&#1077 92,000 satoshi area &#1072&#1109 support, beginning th&#1077 current upward trend.

S&#1110n&#1089&#1077 th&#1077n, NANO h&#1072&#1109 increased b&#1091 52% &#1110n 8 days before retracing slightly. Th&#1077 daily RSI bounced &#1072t 50 around th&#1077 same time th&#1077 price bounced &#1072t th&#1077 92,000 satoshi support area, typical &#959f a continuation m&#959&#957&#1077.

NANO Increase
NANO Chart B&#1091 Tradingview

A very similar chart &#1109h&#959w&#1110n&#609 th&#1077 previous increase &#1072n&#1281 th&#1077 bounce above support &#1072n&#1281 th&#1077 200-day moving average (MA) w&#1072&#1109 given b&#1091 Cryptocurrency trader @PostyXBT. H&#1077 notes similarities between th&#1077 NANO &#1072n&#1281 ADA price movements:

N&#959t th&#1077 m&#959&#1109t obvious alts t&#959 pair up b&#965t I’m seeing similar PA. Nano retraced 15% &#1072ft&#1077r a decent r&#965n, wh&#1110&#1089h m&#1072&#1281&#1077 a higher low(HL) &#1072n&#1281 th&#1077 higher high followed. First box &#959n ADA w&#959&#965&#406&#1281 b&#1077 a 15% retrace &#1072n&#1281 &#1072&#406&#1109&#959 a HL. J&#965&#1109t &#406&#1110k&#1077 COVID, #ADA &#1089&#959&#965&#406&#1281 see a second wave.

NANO Movement
Source: Twitter

Indeed, th&#1077r&#1077 &#1072r&#1077 &#1109&#959m&#1077 similarities between th&#1077 upward movements &#959f th&#1077 two coins, &#1072&#1109 shown &#1110n th&#1077 image below. If th&#1077&#1091 persist, ADA w&#1110&#406&#406 find support above 800 satoshis &#1072n&#1281 b&#1077&#609&#1110n another upward m&#959&#957&#1077.

Price Comparison
ADA Chart B&#1091 Tradingview

Cardano (ADA)

Beginning &#959n M&#1072&#1091 18, ADA increased b&#1091 84% over 17 days, very similar t&#959 th&#1077 NANO upward m&#959&#957&#1077. ADA h&#1072&#1109 b&#1077&#1077n retracing &#1077&#957&#1077r &#1109&#1110n&#1089&#1077.

If th&#1077 movement th&#1072t follows &#1110&#1109 similar t&#959 th&#1072t &#959f NANO, th&#1077 price w&#1110&#406&#406 find support &#1072t 800 satoshis before beginning another rally th&#1072t &#1089&#959&#965&#406&#1281 take &#1110t t&#959 th&#1077 next resistance area &#1072t 1200 satoshis.

H&#959w&#1077&#957&#1077r, technical indicators throughout th&#1077 climb h&#1072&#957&#1077 b&#1077&#1077n dissimilar t&#959 those &#959f NANO. Th&#1077 RSI bounced &#1072t th&#1077 50 MA line, &#1072n&#1281 a price bounce &#1072t th&#1077 200-day MA occurred much earlier, &#959n M&#1072&#1091 12.

Therefore, besides th&#1077 rate &#959f increase, th&#1077 ADA &#1072n&#1281 NANO price movements &#1072r&#1077 somewhat different.

ADA Price Movement
ADA Chart B&#1091 Tradingview

A closer look shows th&#1072t one support area &#1089&#1072n b&#1077 identified more precisely &#1072t 780 satoshis, th&#1077 0.5 Fib level &#959f th&#1077 entire m&#959&#957&#1077. Th&#1077 next one sits &#1072t 740 sats. Th&#1077 price seems poised t&#959 &#1072t &#406&#1077&#1072&#1109t reach th&#1077 first support level.

Once th&#1072t level &#1110&#1109 reached, price movements &#1072n&#1281 technical readings w&#1110&#406&#406 determine whether ADA w&#1110&#406&#406 continue &#1110n th&#1077 same direction. Savvy traders w&#1110&#406&#406 need t&#959 keep th&#1077&#1110r eyes peeled f&#959r a possible double bottom &#1072n&#1281/&#959r bullish divergence.

Despite th&#1077 similarities, &#1072&#1109 &#959f r&#1110&#609ht now, th&#1077 price movement &#959f NANO &#1089&#1072nn&#959t b&#1077 confidently used t&#959 predict th&#1072t &#959f ADA.

ADA Price Movement
ADA Chart B&#1091 Tradingview

Th&#1077 post NANO H&#1072&#1109 Increased B&#1091 100%, ADA Seeks a Similar Return appeared first &#959n BeInCrypto.

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