ETNBTC Price Analysis – July 2
The value of the ETNBTC is currently trading on the level at 0.00000040 and this level is significant to the pair, although it is not the lowest price realized this week. ETNBTC is still fluctuating in the same price zone for a retest of the key levels.
Supply Level: : 0.00000034, 0.00000038, 0.00000040
Demand Level: 0.00000074, 0.00000057, 0.00000046
ETNBTC Long term Trend: Bearish
The ETNBTC seems to give bias for later action to the upside as it trends on the key technical supply zone on the level at 0.00000038 and later to the lower zone on the level at 0.00000034.
However, the trend stays glued to the downside for a near term break to the upside on the level at 0.00000046, and for now, traders might want to trade under the demand zone and wait for the trigger line of the moving average to signal the move upward.
ETNBTC Short term Trend: Ranging
On the flip side of the 4-hour chart, the momentum for the ranging position of the pair is confirmed after the upward move to the level at 0.00000046 in the prior session and back towards the downward supply zone around the level at 0.00000038.
The trend is ranging and it is currently showing an intact ranging momentum on the four-hour time frame and will later give room for a change of the trend to either way.
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