Nucleus Vision was trading sideways on a 4-hour candle chart and it just went up over +51% in a week by breaking all previous resistances. Let’s take a quick look at NCASH, price analysis, and possible reasons for the recent breakout.
What is Nucleus Vision?
Launched in 2014, Nucleus Vision, also known as NCash, aims to bridge the divide between the online and offline retail world. The project is an IoT-based, contactless identification system that enables retailers to identify and better serve their customers by using customer’s records to make precise decisions on product preferences without the use of WiFi or Bluetooth.
NCASH Quick Stats
| SYMBOL: | NCASH |
| Global rank: | 714 |
| Market cap: | $7,190,556 AUD |
| Current price: | $0.0010 AUD |
| All time high price: | $0.0680 AUD |
| 1 day: | +26.41% |
| 7 day: | +51.73% |
| 1 year: | +99.35% |
NCASH Price Analysis
At the time of writing, NCASH is ranked 714th cryptocurrency globally and the current price is $0.0010 AUD. This is a +51.73% increase since 7th December 2020 (7 days ago) as shown in the chart below.
After looking at the above 4-hour candle chart, we can clearly see that NCASH was trading inside the inverse head and shoulders pattern on the NCASH/ETH pair. The first resistance was on the $0.0008 AUD price level which NCASH broke with a strong bullish trend buying volume and is now heading towards the previous monthly resistance. Seeing that many altcoins are waking up bullish today, NCASH is likely to continue to increase.
“An inverse head and shoulders pattern is comprised of three component parts: After long bearish trends, the price falls to a trough and subsequently rises to form a peak. … The price falls for the third time, but only to the level of the first trough, before rising once more and reversing the trend.”
What do the Technical indicators say?
The NCASH TradingView indicators (on the 1 day) mainly indicate NCASH as a buy, except the Moving Averages which indicate NCASH as a strong buy.
So Why did NCASH Breakout?
The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up NCASH to their portfolio for this Altcoin rally. It could also be contributed to some of the recent news for Point-Of-Sale Financing.
Recent NCASH News & Events:
- 30 March 2020 – Deterrent Controls
- 30 June 2020 – Recovery Controls
- 30 September 2020 – Corrective Controls
- 30 December 2020 – Recovery Controls
Where to Buy or Trade NCASH?
Nucleus Vision has the highest liquidity on Binance Exchange so that would help for trading NCASH/BTC or NCASH/ETH pairs. However, you can also buy from other different exchanges listed in Coinmarketcap.