Very few cryptocurrency markets are capable of noting any noteworthy momentum right now. Not entirely surprising, as today is a holiday in most countries around the world. Even so, the trading volume of most markets could use a healthy nudge. This has not prevented the Nano price from moving up in a more decisive manner, though.
Nano Price Moves up Rather Swiftly
Considering how most of the crypto markets note very small gains right now, it is all the more surprising to see some markets soar. Nano falls into this category, as it is one of the few projects in the market cap top 50 to note any real uptrend at this time. Sustaining that level of growth in both USD and BTC terms will be a steep challenge.
Over the past 24 hours, the Nano price has successfully gained 9.1% as it rose to $1.77. This is still far removed from the all-time high of $34.42, but it is a promising sight regardless. Speculators will also be pleased to note NANO/BTC has gained 8.14% as well, which shows there is some merit to this unexpected price increase.
On social media, there isn’t too much information to keep an eye on where Nano is concerned. The official Twitter account is happy to celebrate Earth Day today. Although it won’t affect the market’s price in any shape or form, it is good to see the community come together for such celebrations regardless.
Today we celebrate #EarthDay and acknowledge the collective role we all play in using our planet's limited resources responsibly – did you know this can also include the way we choose to spend our money?#NanoIsGreenhttps://t.co/GGbbHDPT7v
— Nano (@nano) April 22, 2019
As one would come to expect, the traders and speculators are paying a fair bit of attention to Nano right now. AI Profit forecasts a potential rise to 3,386 Satoshi before the day is over, which would require another 2 Satoshi to be gained. Where things will head next, is a very different matter altogether.
— AI PROFIT (@ai_profit) April 22, 2019
For those who like to keep an eye on colorful price charts, Chuk Dell has the Nano community covered. Now that the expected levels have bee reached, there are two possible scenarios. Either a breakout will occur or the gains are nullified in quick succession. Either option remains valid at this time, thus making accurate predictions is virtually impossible.
— Chuck Dell (@ChuckDellcrypto) April 22, 2019
All in all, it is comforting to see some of the markets display a more serious attempt at noting any real gains to kick off the week. Until proven otherwise, however, these gains can be wiped out pretty quickly. Nano’s rather bleak trading volume of $9.94m might prove to be its downfall in terms of sustaining the current growth. The coming hours will prove very interesting in this regard.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.