ETNBTC Price Analysis – June 18
The Electroneum has completed a series of consolidation around the lower zone and sellers are impatient to exit from the trend. It gives buyers the pull to take control. Price may eventually surge out of the rising wedge pattern.
Demand Level: 0.0000009532, 0.0000008187
Supply Level: 0.0000004562, 0000004000
ETNBTC Long term trend: Bullish
As price could go near vertical through the rising wedge causing an upward pattern across the pair, we may see the next demand zone being the target after the level at 0.00000081 is breached upward.
Hence, the pair after the consolidation is in a rising momentum to display a bullish pattern for late entries but the ETNBTC remains bullish in the long term.
ETNBTC Short term trend: Bearish
A surge from here will alter or either accelerate the completed consolidation to breakout from the current pattern. Observing the short term trend on the 4 hours chat a breakout from here after retracement downward may confirm a move towards the supply zone on the level at 0.0000005105 and 0.000000452 in extension.
On the flip side, the momentum could give rise to buyers advantage and cause a spike up and once it’s established from the level at 0.0000004562 we may see reversal upwards.
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