Price Analysis

Electroneum (ETN) Price Analysis: Electroneum’s Bearish Market Trend is Worrying Investors

Electroneum

Electroneum (ETN) is cryptocurrency aimed at mobile phone and smartphone users. It is backed by blockchain technology, and from 2017 it has been helping many small investors with their investment in cryptocurrencies. It has a mobile application as well, which supports many languages. The main motive of Electroneum is to reach every corner of the globe so that everyone will be benefitted from the crypto market’s financial system.

Current Statistics-

ElectroneumWith a negative 93.83 % of ROI (Return on Investment), Electroneum (ETN) is 100th largest coin in the market. It has a total coin circulation of 9,279,580,477 ETN. The current market cap as on 15th April at 08:24 UTC is 53,974,649 USD. And the value of each coin in USD and BTC are respectively 0.005816 USD and 0.00000113 BTC. The 24 h volume stands at 204,137 USD at the same UTC.

Comparison-

Electroneum (ETN) has been experiencing inconsistent growth over the last 90 days. And this instability is to continue for a much longer period. When after April 1st, the whole market grew enormously; Electroneum (ETN) went against the flow. The market cap on 15th March was 61,649,573 USD on 15th April, and the value of each coin in terms of USD and BTC were 0.006773 USD and 0.00000173 BTC. The current market cap is 12.44 % less than the market cap of March 15th, and the value of each coin has deflated by 14.12 % in the last 30 days.

Prediction-

As mentioned earlier, the coin has faced many inconsistent resistances over time. It has reached the lowest points at 0.005774 USD. The inconsistency also has affected the market cap of the coin. We predict the coin would continue the trend and it would again rise for some days to meet resistance at 0.0065 USD to 0.0068 USD. Then it would again move downwards. This has made a good place for making positions for a buy. The medium-term of Electroneum (ETN) seems bearish. The coin will not give dividends as per the expectations. The long term outlook, however, is bullish. By the end of 2019, the Electroneum (ETN) may reach as high as 0.01 USD to 0.015 USD level. Buying at such low prices now would give almost 200 % – 500 % profit to the potential investors.

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