• The price of ETN has fallen to a low at Ƀ0.00000048 which was the previous low of May 14.
• On the upside, if the Ƀ0.00000048 support level holds, the coin is likely to reach the highs of Ƀ0.00000065 and Ƀ0.00000070 price levels.

ETN /BTC Medium-term Trend: Bearish

• Resistance Levels: : Ƀ0.00000050, Ƀ0.00000055, Ƀ0.00000060
• Support Levels: Ƀ0.0000045, Ƀ0.00000040, Ƀ0.00000035

Last week, the price of ETN was in a bearish trend. In retrospect, the crypto’s price had been on a downward trend. On May 14, the downward correction was well supported at the: Ƀ0.00000048 price level. The bulls made an upward move and reached a high of Ƀ0.00000071 but were resisted by the bears. The crypto’s price fell to the support of the EMAs but the bears broke the EMA to resume the downward move.

The 12-day EMA and the 26-day EMA were trending southward indicating  bearisha trend. The price of ETN has fallen to a low at Ƀ0.00000048 which was the previous low of May 14. On the upside, if the Ƀ0.00000048 support level holds, the coin is likely to reach the highs of Ƀ0.00000065 and Ƀ0.00000070 price levels. Meanwhile, the price of ETN is in the oversold region of the daily stochastic but above 40% range. This indicates that the price of ETN is in a bullish momentum and a buy signal.

ETN/BTC Short-term Trend: Ranging

On the 1-hour chart, the price of ETN is in a sideways trend. The 12-day EMA and the 26-day EMA are sloping horizontally indicating a sideways trend. The crypto’s price is fluctuating below and above the EMAs. The crypto’s price is in choppy price action.

The resistance level and support level are discernible which makes trading difficult. However, the crypto’s price is in the overbought region of the daily stochastic but below the 80% range. This indicates that the price is in a bearish momentum and a sell signal.

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