ETNBTC Price Analysis – June 30
Under the current market circumstances, one would expect the pair to show an improvement slightly to the upside, as it seems there exists no bounce in the picture for the ETNBTC.
Supply Levels: 0.00000034, 0.00000038, 0.00000040
Demand Level: 0.00000074, 0.00000057, 0.00000046
ETNBTC Long term Trend: Bearish
Over the past few hours on the daily, a noticeable minor bullish momentum is gradually forming on the supply zone on the price level at 0.00000040.
Although offsetting the BTC gains is still difficult, it would later appear that a bounce on the key technical supply zone will increase the volatility with momentum to the upside zone towards the demand level at 0.00000046 and 0.00000057 in extension.
ETNBTC Short term Trend: Bearish
The pair is overwhelmed by the bears and its trading on the level at 0.00000040 where buyers and sellers have activated inflows, we may soon see a breakout to either side as soon as the stronger momentum prevails.
For now the RSI crossing to the upside area may give reinforcement to the technical supply zone on the level at 0.00000038, but still, the trend is bearish and it is showing an intact bearish trend in the short term.
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