ETNBTC Price Analysis – July 9
Electroneum returns with higher volatility on the exchange to become markets top mover in the midweek. Price prediction for the ETNBTC as written earlier in the week becomes a reality for the pair as it trends higher on the bounce for its trend continuation.
Supply level: 0.00000034, 0.00000038, 0.00000046
Demand Level: 0.00000099, 0.00000074, 0.00000057
ETNBTC Long term Trend: Ranging
The current price of the pair is 0.00000048 and that’s 10% higher than the negative prediction for a break to the downside past the level at 0.00000038.
ETNBTC market condition for the bearish run downwards eases out and a failure of the swing bottom pattern is formed as the ETNBTC regains upward traction although still within the bearish range.
ETNBTC Short term Trend: Ranging
On the flip side, showing on the 4-hour time frame, the trend is slightly different but also within the previous bearish range after continued retracement from the demand zone around the level at 0.00000057.
The RSI crossing is displaying a medium-term bias for the downside although not in conformity with the larger time frame as this scenario has confirmed the bias remains neutral till a breakout occurs.
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