Nano Price Prediction: Is XNO a Good Coin to Buy?

Nano price made a strong comeback in the past few days even as cryptocurrencies crashed. XNO token jumped to a high of $0.80, which is higher than the all-time low of $0.542. This price is about 78% below the all-time high, giving it a market cap of more than $95 million. 

Nano trading volume rises

Nano is a cryptocurrency that aims to solve the challenge that exists in mainstream currencies like Bitcoin, Ethereum, and Ripple. It solves challenges of low fees, low latency, scalable, and environmentally friendly platform. 

These are challenges that have made it almost impossible for it to gain mass adoption. Nano has processed more than 120 million transactions in the past few months. 

Nano is different from other cryptocurrencies because of how it is implemented. It can be integrated in all industry. This makes it a popular cryptocurrency, especially in the emerging market. For example, it is being used in Uganda in the motorcycle taxi industry.

The most recent Nano news is the ongoing system upgrade. The fourth version, which is known as Siglos, is being tested. The new upgrade will include features like improved unit test stability and clarity. It will also add the ability to bootstrap process to request blocks in ascending orders. 

Also, it will have a set of stateless bootstrap messages that will allow bootstrap query/response to be sent through the node’s real-time socket. Further, it will have a new bootstrapping algorithm that is statistical and more randomised. 

XNO price prediction

The daily chart shows that the XNO price has been in a narrow range in the past few weeks. The price has moved above the important support at $0.542. It is also consolidating at the 25-day and 50-day moving averages. At the same time, the volume has been relatively weak as competition has risen.

Therefore, there is a likelihood that the coin will continue falling as sellers target the key support level to watch will be at $0.50. A move above the key resistance at $1 will invalidate the bearish view.