ETNBTC has been on a descending ride after hitting a key barrier, this twisted journey is reducing its momentum since going half way to the next resistance level, but the coin looks determined to head to that next price resistance level.
Supply levels: $0.088, $0.098, $0.112
Demand levels: $0.075, $0.065, $0.044
ETNBTC Trends: Bearish
ETNBTC has been in a descending rail that is supported by a price action candle closure. And the price is within the price support and resistance area of $0.065 and $0.044. If the price succeeds in breaking this key price level of $0.044, then the bearish drive will accelerate down to a record lower low level. This level has been tested two months ago, thus breaking it might not be an easy task,
The chart shows that the MACD Indicator signal lines and Histogram bars are yet to cross for a bearish indication; also the price is below the 14 and 50 Exponential Moving Averages.
ETNBTC Short-term Analysis
ETNBTC is on a downtrend and heading to the next price resistance level, the pair has been on the bearish side for some days. The bearish drive is losing momentum but gives hope of reaching the near price barrier.
The 4-hour chart indicates that the MACD Histogram bars are reducing momentum, and the price seems to move closer to the 14 Exponential Moving Average.
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