ETNBTC Price Analysis – June 28
The pair has ended the previous day’s trading on a low volume with the price on the level at 0.00000042. Although the market has presented to participants a positive outlook for its growth to the upside zone.
Supply Level: 0.00000030, 0.00000034, 0.00000038
Demand Level: 0.00000074, 0.00000057, 0.00000046
ETNBTC Long term Trend: Bearish
Looking at the trend from the prior session’s open to this current session, there exists no significant change to the market bias for the downward momentum to change to the other side.
We still maintain a positive bounce for the trend in the near term as the ETNBTC is on a downward slope staying below the demand zone on the level at 0.00000046.
ETNBTC Short term Trend: Bearish
Unable to bounce beyond its demand zone on the level at 0.00000046, after hitting the supply zone on the level at 0.00000034, the pair has seen a near term mild correction zone but the trend remains the same.
The level at 0.00000034 may later act as a significant supply zone going forward as seen on the 4-hour chart, but the overall trend is bearish with an intact downside momentum in the short term.
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