- There have been intense choppy price movements in the ETN/BTC market.
- A short bearish reversal may occur to give the ETN/USD trade bulls strong stance to move upward away of range spot.
ETN/BTC Medium-term Trend: Ranging
- Resistance levels: B0.0000006, B0.0000007, B0.0000008
- Support levels: B0.0000003, B0.0000002, B0.0000001
ETN/BTC has been trading in a range basically around B0.0000004 market line over time in its medium-term run until now. The last time that the pair made a notable spring a bit away from the range spot mentioned earlier on was on July 1.
The crypto lacked the energy to capitalize on the short upswing; therefore, it takes to hovering around its market’s line at that point until the present. All the trading indicators now trend very close around the range spot pointing to the east direction. The Stochastic Oscillators now close the hairs at range 60.
There has been no clear indication as regards a definite direction of ETN/USD market for now than to watch out for strong price action before placing an entry. However, a bearish reversal may be watched out to launch a long entry if that scenario eventually plays out.
ETN/USD Short-term Trend: Ranging
The movements in the ETN/USD market has been ranging around B0.00000044 and B0.0000004 price levels today as at the time of writing. The market's mark at B0.00000042 represents a median line of the two range marks of the market.
The indicators seem to point to the north-east. And, it’s causing indecision making in the market presently. The stochastic Oscillators now consolidate around range 60.
The market’s current trading condition appears indecisive as both the bears and the bulls are lacking in their strength. Therefore, traders may wait for a push, especially that support an upward move of the market afterward.
Live Electroneum (ETN) Price:
1 ETN/USD =$0.0080 change ~ -1.27%
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