ETNBTC Price Analysis – July 5
The ETN news may look lagging and dormant for active participants as details were muted as to what reaction may suffice while a freeze is in place.
Supply Level: : 0.00000034, 0.00000038, 0.00000040
Demand Level: 0.00000074, 0.00000057, 0.00000046
ETNBTC Long term Trend: Bearish
Over the past few hours on the long time frame, significant bearish momentum is gradually activated towards the supply zone on the level at 0.00000040.
However the move may be stalled as part of the ongoing freeze on the ETNBTC volatility, but if this fails to hold a break either to the supply or demand zone may be seen or more consolidation to the sideways.
ETNBTC Short term Trend: Ranging
The selling of the ETNBTC may accelerate further south side and close to the key technical supply zone on the level at 0.00000034 once price moves below the minor supply zone on the level at 0.00000038.
This could either indicate a potential selling climax after which price may head back up toward the upper zone of the moving average on the demand level at 0.00000046 or signal the next breakout to the upside.
Note: Dapplife.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results