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XNONUSD trade ideas

NANO (XNO) Starting Afresh - Lean and Green It's been a while since I posted an update on NANO. You can see the links below for previous posts on NANO, where you can see the historical price chart (not currently viewable). NANO is still one of my favorite cryptocurrencies, despite remaining in a clear downtrend and breaking the established uptrend from the previous bull market. Oddly enough, I'm actually becoming even more supportive of the project, as I lose faith in the majority of crypto achieving its original purpose. NANO is simple - no frills. It's lean and green. It does what it needs to do, at zero cost. Does it serve well as an investment? Not necessarily. As many NANO critics have pointed out over the years, there doesn't seem to really be an incentive to hold it. One cannot ignore that its limited supply with relatively poor price performance exhibits very little overall interest. Clearly, it can stagnate for a long time. Will it ever rise again in value? Interestingly, NANO's best performance last year occurred precisely around the time Bitcoin began dropping over the summer, due to the China ban and criticisms of Bitcoin's energy usage. NANO rose from its March 2020 low of $0.25 to near $17 (almost a 200x increase). This shows that at least some traders find NANO attractive at times when Bitcoin seems less attractive. What's even more interesting is that large upside moves from NANO often precede or coincide with large drops in Bitcoin price. Recently, NANO moved up nearly 50% in a single day, which was a rare occurrence in which Bitcoin did not drop immediately afterwards. Unfortunately due to the ticker change, I can't access some of those older NANO/BTC charts to show what I'm talking about. Arguably, a currency with a limited supply of 133 million coins necessitates DISCOURAGEMENT of hoarding, and rather ENCOURAGEMENT of spending. This is why fiat currency loses value over time - there needs to be some incentive to spend it. This is also why Bitcoin and Ethereum can't be used for everyday transactions. NANO is quite lightweight, though its tokenomics do not encourage drastic price appreciation. Despite this, the coin managed to get close to the Top 10 by market cap at the end of 2017, simply because it did what Bitcoin was meant to do originally, but better. However, these days the market cares more about scarcity and scarcity economics, than it does about utility. This is due to the entrance of big money, I'll bet on it. Big money wants something that can remain "profitable." The meme stock craze flipped this on its head, and caused a surge in value for companies that are not seen as necessarily profitable. It also caused a surge in value for meme coins like DOGE, which have far worse tokenomics than NANO. Let's not forget that a market-wide rebellion against Bitcoin and its high fees in 2017 led to the meteoric rise of RaiBlocks (XRB - Nano's former name) and other cheaper coins like XLM and XRP. Back then, people were still excited about crypto's utility, and its promise to unite the world in an unbanked utopia. These days, that vision seems quite clouded. Since taking profit from the 2021 market run, I will focus more on cryptocurrencies that align with my values in the future. NANO is one of them. And perhaps Banano too, for the memes. On the above charts, you can see that the ticker has changed. Formerly NANO, XNO is able to start "afresh" from a charting perspective. Now, it has the chance to shine as an option for cryptocurrency users, but it MUST have more liquidity and become more accessible to those who need it. WeNano is an incredible app, but interest seems to have waned. Unfortunately if Coinbase added NANO, it would make some other cryptocurrencies obsolete, in terms of everyday utility (such as XRP and XLM). XRP and XLM are also quite fast, but they require memos. The memo itself makes the transaction process slower. Big players probably do not want to spend the time marketing something like NANO that does not have an economic system tied to it, like Bitcoin or Ethereum. So, it remains in a difficult position. It'll be interesting to see if this recent upside move for NANO will end up predicting a major drop for Bitcoin, as it does consistently. It will also be interesting to see if NANO can survive, once all is said and done. A lot depends on the community here. If NANO gets back to $1.10 or below, I'll probably buy some more. Supports and resistances are outlined on the above chart. There's no telling where it'll go long term. As I mentioned above, it can easily die out and hit some of those previous bear market lows. Or, it can pleasantly surprise and reach all-time high. I'd see this as a rebellion against the established market trend, as I wrote about above. This is meant for speculation and entertainment only - not as financial advice. -Victor Cobra
BINANCE:XNOUSDLong
by VictorCobra
2
predictions are XNO may reach $5.0 in the coming few weeksNano Coin broke the descending parallel channel, and found a pole and flag formation during an uptrend. Nano Coin investors are targeting the $5.0 level as per the price forecast in the next few weeks. The XNO price is approaching the 100-day moving average in the day time frame. The 100-day moving average is acting as a significant bullish barrier for XNO buyers. The bulls are still expecting a bullish move above the 20 and 50 EMAs on the daily price chart. Daily RSI is at 64-mark, it is looking bullish to acquire overbought areas. In addition, the semi-line (50-point), can act as a support. After noticing the pole and flag pattern, XNO holders can keep the coin's value higher for stronger ROI. Still, the bulls need to manage the Nano coin above the 100-EMA.
KRAKEN:NANOUSDLong
by TheCoinRepublic
2
XNO ; NANO - potential phoenix pump to catchXNO ; NANO - potential phoenix pump to catch Nano has been a pretty bloody big dissapointment. I kept buying it in our last macro waves to get that 17 style moon pump that never came. oh my dear raibucks what happened? im still addicted to her though.. anyway.. Here is your hopium; zoom out to see where those fractals came from and how similar the RSI impulse was/is. 3 options as i see it. the DEPTH on this pull back will show what is right. we want a strong dump to buy, a slower sleady slope down is not a good sign. will i take the bait again if the shape is right? yes yes i will. x
KRAKEN:NANOUSDLong
by Crypto-Quantum-Fox
NANO my darling will you fail me?These are pervious patterns I have caught from $NANO that are starting to follow through as of now. However, I am having deep concerns on this coin because of its pump and dump on October 29th from $5 to $7. It has been dumped since that ATH and has no price action and is still sitting at the low $5 mark. $NANO needs to play catch in these next 2 weeks or else it won't participate in this CURRENT(RIGHT NOW) ALT cycle. My deadlines are on Thanksgiving day. If it does not exceed or meet my price targets by then I will be dumping this faster than my ex-girlfriend and converting it all to Chainlink.
KRAKEN:NANOUSDLong
by CryptoeChris
1
NANO pumping over the next 3-5 days. PT $8.30+ but may not holdUnless we break out of this channel and start a new more extreme uptrend, I believe we'll see NANO break $8 and peak around $8.30-50 before coming back down. I caught this while NANO was around 6.50 and called out the drop to 8.40 before breaking the downtrend. I'm of the opinion that this is still valid. I've been super bullish on NANO historically but recent price action and drop out of the top 100 coins in Market cap has me second guessing if there are just better places to park money though the rest of the year. I believe NANO will top out around the same time as Bitcoin does, or within a month. I believe Bitcoin will peak around December 28 with profit taking happening on both sides of the new year to spread out tax liability. I can no longer offer a confident price target on NANO's top during this cycle, aside from the fact that I do see BTC likely breaking $200k-300k and I do see NANO continuing to rise in sats, which could potentially place the top at least in the $50-80 range. My gut says higher. I believe the bear market will last through 2024 and the best time to start accumulating again will be the Q3 2023 - Q1 2025. This strategy is liable to change IF we see steady adoption and use amongst alt coins OR we see Bitcoin's market cap taken over by the likes of ETH, ADA or SOL. I think it's rather unlikely to happen this cycle but it's definitely not impossible.
KRAKEN:NANOUSDLong
by laserstuff
NANO - where are we?NANO is creeping back to our consistent 4hr trendline. As we update many cryptos after this DUMP, we see this selloff was quick and we are closing in our original trendlines. We are extremely bullish in this market as we look well beyond the technical analysis and look for which cryptos will stand long term. NANO is another top crypto, one of the first Directed Acyclic Graph (DAG) based cryptocurrencies improving system performance and security with every purchase. ------------------------- Which coins to buy? What do these coins do? Please message me for the top altcoins each week- track my success Please message me for 'beyond the chart analysis' Please message me for information on the latest (ICOs) Initial Coin Offerings; How to buy altcoins before they are tradable.
KRAKEN:NANOUSDLong
by ManhattanBeachCapital
1
Choose a decentralized currency that makes senseIntroduction While I personally am a fan of central government management of monetary policy because it gives us great tools for managing crime and recessions, I'm not opposed to trying decentralization and seeing where it takes us. Decentralization helps fight the concentration of power and wealth, and it's a good old democratic tradition here in the United States. Decentralized currency may be the future, but Bitcoin isn't it I'm not convinced the world is likely to adopt any cryptocurrency whose value fluctuates wildly enough to make it attractive to investors. But if you insist on speculating on decentralized currencies, I suggest choosing one that makes economic sense. Barring a game-changing fork, Bitcoin is not the future of cryptocurrency. Its energy requirements are just too vast. Every Bitcoin transaction uses as much electricity as an American household uses in a month (~730 KWh). That's about $96 per transaction if the processing were done here in the US. (Most Bitcoin transactions are actually processed in the developing world where costs are cheaper because air pollution is unregulated and miners can pump out all the carbon they want.) Bitcoin transactions are about 50,000x more energy intensive than Visa and Mastercard transactions. To process 350,000 transactions per day, the Bitcoin network is approaching the energy consumption of Norway. Visa processes 150 million transactions per day, so you can imagine the energy costs if Bitcoin scaled up to Visa's size. In no way is this a technology that makes economic sense. Alts that make more sense There are some alts that do a lot better than Bitcoin on the energy use front. Ripple (XRPUSD) is one of the more famous ones. Another is Nano (XRBUSD). These alts have much lower energy costs per transaction than Bitcoin does. For instance, Nano transactions reportedly use only 0.000112 kWh of energy per transaction. Thus, the entire Nano network could be powered by a single wind turbine. That's much less than $0.01 per transaction in energy cost. (I've seen the cost estimated at about hundredth of a cent.) Nano is roughly 550,000 times more efficient than Bitcoin. Ripple is another one that's incredibly energy efficient. Ripple reportedly uses 0.000011 KWh per transaction, making it even more efficient than Nano. Ripple, however, is slower than Nano by a factor of three. It's also not truly a decentralized currency like Nano is. It's owned and operated by a private company, Ripple Labs. From a speculator's point of view, Nano is probably a better bet due to limited supply. The supply of Ripple is capped at 100 billion coins, but the current supply can triple before it hits that limit. Nano is already at its supply cap. Limited supply means the price of Nano coins could rip. Of course, from an adoption point of view, the limited supply of both these coins is problematic. It creates a scalability and price volatility problem that could prevent either coin from being adopted widely as a medium of exchange. Don't get stuck in a Bitcoin rut I believe we will see a lot more innovation in the digital and decentralized currency space. There are a lot of problems to be solved, and I don't think we've seen a single currency that solves them all yet. In addition to energy, speed, and price volatility, you've also got to think about privacy, security, and government compliance. How to secure cryptocurrencies against the rise of quantum encryption-breaking is just one of the huge problems that cryptocurrency innovators face. Given these challenges, I think it's a huge mistake to get stuck on a single cryptocurrency solution like Bitcoin. Bitcoin was first to the gate, but it's unlikely to be first to the finish line in my opinion. Investing in crypto requires deep research and deep thought about what the problems are and which technologies solve them best.
KRAKEN:NANOUSDLong
by ChristopherCarrollSmith
10