ETNBTC Price Analysis – July 10
The electroneum has had 2 consecutive lower closes in the last 2 days in a row after the continuation of decline but today’s bullish bounce off the key technical zone close to the level at 0.00000046 has given rise to its volatility to change market condition.
Supply Level: 0.00000034, 0.00000038, 0.00000046
Demand Level: 0.00000099, 0.00000074, 0.00000057
ETNBTC Long term Trend: Bearish
The ETNBTC was earlier held back on the minor supply area of the moving average 13 on the level at 0.00000040 where the bullish bounce occurred.
Although the ETNBTC is currently in a downtrend, the price of the pair may surge past the moving average 5 minor demand area on the level at 0.00000050.
ETNBTC Short term Trend: Bearish
Though still in a ranging price condition, the short and medium term trends have both turned bearish already as a result of the fall from the level at 0.00000057.
ETNBTC is likely to close within the previous day’s range and that is below the last trading days average range as the RSI crossing downwards confirm its bearish turn where further decline may resume.
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