ETNBTC Price Analysis – July 4
Even though some participants still see the ETN as a new entrant to the crypto exchange, the ETNBTC has had its share of the highs against the BTC in recent times, therefore, it is yet not considered as a risky pair.
Supply Level: : 0.00000034, 0.00000038, 0.00000040
Demand Level: 0.00000074, 0.00000057, 0.00000046
ETNBTC Long term Trend: Bearish
The long term volatility of the pair to the upside is looking positive as it might see the right inflows to enable its momentum to the upside zone after the break of the demand zone on the level at 0.00000071.
However, the break of the key technical supply zone on the level at 0.00000038 will invalidate this position and selling might accelerate to the downside.
ETNBTC Short term Trend: Ranging
In the coming days, expectations on the ETNBTC is that it may rally to the upside zone to reach its major demand zone on the level at 0.00000057 and 0.00000071 in extension.
Hence, the failure to break the upside, the ETNBTC might break lower towards the key technical supply zone on the level at 0.00000038 but we will await the price action for confirmation.
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