• ETN/USD market is in a range moving mote in the medium-term run at a high trading zone of the market.
•  The movement of the pair to the north is more on a stronger note than dropping southwards.

ETN/BTC Medium-term Trend: Ranging

• Resistance levels: B0.0000007, B0.00000075, B0.0000008
• Support levels: B0.0000005, B0.00000045, B0.0000004

The kind of market reactions been taking place in the ETN/BTC trade have been featuring a series of notable ups and downs in a range. The pair’s movements have been over time playing a dominance role within and around the Bollinger Bands. The 50-day SMA has a bit slantingly headed up past the Bollinger Lower Band. The Stochastic Oscillators now slantingly move towards range 60.

There now appears that a market demarcation line at B0.00000055 has been in the card of this crypto-market to showcase a critical point to the bulls in the market. However, the bulls are not expected to lose out easily to the bears in near time.

ETN/BTC Short-term Trend: Bullish

The price movements of ETN/BTC have been on a relative increase today in the short-term run. It must as well be noted that the move isn’t that strong as at the time of writing. The market has been able to touch a high value at B0.00000064. The Bollinger Middle Band is a bit located over the 50-day SMA indicator. The Stochastic Oscillators have bent downwards to slightly touch past range 40 to the south.

There seems that the pair may have to move down to touch the 50-day SMA indicator’s trend-line to rebound back to the north. The market’s declination may not be coming up so soon at this point in time.

Electroneum:

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.