- The RSI line shows a significant bearish divergence concerning the ETN coin price
- The ETN/BTC pair was trading at 0.0000004922 BTC with a gain of 1.85 %
- the 24hr trading volume in ETN coin is $2.02 Million
After reaching a new height of $0.029 on 16th September, the ETN coin entered into a minor retracement phase. These short pullbacks can be beneficial for trending coins in order to maintain a long bull run. The coin price has just bounced from the crucial support of $0.0188, suggesting the retracement has ended.
According to the EMA’s, the ETN coin shows a bullish trend as the price is trading above the crucial EMA’s of 20,50,100 and 200. In addition, the chart also shows that the price is receiving strong support from the 20 EMA.
The RSI value is at 55, indicating a bullish emotion in the coin. However, the RSI line has shown a significant bearish divergence concerning the coin’s price action, suggesting weakness in this bullish momentum.
The ETN Coin Crypto Chart In The 4hr Time Frame
After bouncing from the 0.0188 support, the ETN coin provided new hope for the continuation of its bull rally. However, the crypto trader can still wait for the price to breach at least the nearest resistance of $0.22, providing a better confirmation for this rally. The ETN coin price currently trades at $0.021, with a gain of 4.56% in the last 24 hours.
The moving average convergence/divergence indicator (BEARISH)) shows the signal and MACD lines are moving below the neutral area (0.00), indicating bearish sentiment. Moreover, the indicator also shows a bullish crossover of its two lines, providing great confirmation for the price to sustain above the bottom support.
Conclusion: From the technical view, the ETN coin’s overall trend remains bullish. And as said, the coin price shows a reasonable possibility of continuing with its uptrend after bouncing from the $0.188 mark, projecting a HOLD signal for the long traders of the ETN coin.
Support– $0.018
Resistance– $0.22