🔥 NANO Elliot Wave Analysis
Since the corona sell-off, NANO has generally been trending upward. Assuming that the July 19th is the bottom for now, we can clearly see the emergence of an Elliot Wave pattern.
The first impulse wave saw an increase of around 500%, whereas the second leg up saw around 2500% gains.
Generally, the second leg up is the longest and strongest wave. So if we make the assumption that the third leg is going to be of the same length as the first, we'd be looking at a potential target of around $17.40, which would be the same length as the current all time high. I'm under the assumption that the top of this last wave will be higher than the current ATH. My aim is anywhere between $22.50 and $30 as it stands now, based on Fibonacci extensions from the second bullish wave.
Be aware that the time it takes to reach the Elliot Wave top is indicative, it might take longer or shorter than portrayed on the chart.
Happy trading!
The first impulse wave saw an increase of around 500%, whereas the second leg up saw around 2500% gains.
Generally, the second leg up is the longest and strongest wave. So if we make the assumption that the third leg is going to be of the same length as the first, we'd be looking at a potential target of around $17.40, which would be the same length as the current all time high. I'm under the assumption that the top of this last wave will be higher than the current ATH. My aim is anywhere between $22.50 and $30 as it stands now, based on Fibonacci extensions from the second bullish wave.
Be aware that the time it takes to reach the Elliot Wave top is indicative, it might take longer or shorter than portrayed on the chart.
Happy trading!
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