ETNBTC Price Analysis – July 6
The pair has remained stuck to the lower side but more of concern is its vulnerability to external control to manipulate its value after it recorded a low volume on trading. ETNBTC has remained on the floor for the umpteenth time now.
Supply Level: 0.00000034, 0.00000038, 0.00000040
Demand Level: 0.00000074, 0.00000057, 0.00000046
ETNBTC Long term Trend: Bearish
Although expectation of the participants is to the upside as the general bias is that ETNBTC is still in its bullish zone but trading on the floor towards the key technical supply area on the level at 0.00000038.
The pair is trading between the key technical level of its demand and supply on the level at 0.00000057 and 0.00000038 while expecting a break to either side of the time frame.
ETNBTC Short term Trend: Ranging
The trading condition on the 4-hour time frame is that of momentum within a trading channel with price swinging around the mid-zone between the demand zone on the level at 0.00000046 and the supply zone on the level at 0.00000038.
In the upcoming days, the price may see the trading condition with improvement to reach the demand zone and once this condition is invalidated, the pair may move to the downside close to key supply zone on the level at 0.00000034.
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