ETNBTC Price Analysis – July 8
The Electroneum is set for fresh breath and a new type of upward momentum as it may not have experienced in a long while. The coin’s developers are improving on its maintenance for further updates as this may give rise to the positive bias experienced lately.
Supply Level: 0.00000034, 0.00000038, 0.00000046
Demand Level: 0.00000099, 0.00000074, 0.00000057
ETNBTC Long term Trend: Ranging
Although the ETNBTC is experiencing a market surge currently on the long and medium-term charts after a bounce on the supply zone around the level at 0.00000038 that has now moved price upward for 3 days in a row now.
Adequate attention and caution are seen as necessary in trading the pair in this condition as the price is in a ranging market condition and awaiting the completion of the breakout structure.
ETNBTC Short term Trend: Bullish
Things may look slightly different and also a lot similar on the 4-hour time frame with the long term but the scenario here shows that the price of the ETNBTC is retracing after a surge past the demand zone on the level at 0.00000057.
The pair already shows a bullish pattern after the formation of the candlesticks confirming today’s price action and the crossing of the RSI to the upside area, where it has shown that the trend is bullish and intact in the short term.
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