- On June 17, the crypto’s price reached a high of Ƀ0.00000070 and was resisted.
- The crypto’s price was trading at Ƀ0.00000065 as at the time of writing.
ETN /BTC Medium-term Trend: Bullish
- Resistance Levels: : Ƀ0.00000075, Ƀ0.00000080, Ƀ0.00000085
- Support Levels: Ƀ0.00000065, Ƀ0.00000060, Ƀ0.00000055
Yesterday, June 18, the price of ETN was in a bearish trend. On June 17, the crypto’s price reached a high of Ƀ0.00000070 and was resisted. Yesterday, the price retraced to the support of the 12-day EMA. In the previous week, June 4, the bulls took control of price as the crypto’s price made an upward move. A trend line was drawn to determine the duration of the trend.
A bullish trend is said to be ongoing if the trend line is unbroken by price. On the other hand, a trend is terminated when price breaks the trend line and another candlestick closes on the opposite of it. Presently, the bullish trend is assumed terminated. Meanwhile, the price of ETN is in the overbought region of the daily stochastic but bearish 80% range. This indicates that the price of ETN is in a bearish momentum and a sell signal.
ETN/BTC Short-term Trend: Ranging
On the 1-hour chart, the price of ETN is in a bullish trend. The 12-day EMA and the 26-day EMA are sloping southward indicating a downtrend. The price of ETN is above the EMAs which indicates that price is likely to rise.
The crypto’s price was trading at Ƀ0.00000065 as at the time of writing. However, the ETN price is in the overbought region of the daily stochastic but above the 80% range. This indicates the price is in a bullish momentum and a buy signal.
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