Price Analysis

Electroneum (ETN) Price Analysis: Is Electroneum Showing Signs of Recovery After Constant Downfall?

eToro
  • Electroneum focuses on all efforts on increasing ETN visibility and usability
  • Electroneum short term strategy of one week at a time may do the trick

Electroneum enjoys a week of an upward trend amidst the constant downfall in the price of the coin since the past few weeks. This surge may be a result of the measures taken to engage new potential investors through free taxi ride services. ETN has a long way to go before it becomes a household name, and the current market performance may have given the existing currency holders a ray of hope to hold on to.

Electroneum Price Statistics:

As on June 9, 2019, at 06:17:23 UTC the price of ETN coin is noted at $0.0047 and as shown in the below graph the highest value of the coin was recorded at 0.00000063 BTC. There has been an uptrend of over 20.5% in the last seven days when the value of ETN was noted around $0.0039.

Electroneum Price Chart- June 09

  • Currently, ETN is trading at $0.0047 and 0.00000061 BTC
  • The market cap of the coin is now $45,934,439
  • The 24 h volume has reached $666,293
  • The ROI of the coin stands at -94.93%
  • The circulating supply which is also the total supply has now reached 9,577,684,425 ETN

After days of continuous downward movement, ETN is finally reviving back, and as shown in the highlighted areas of the above chart, between June 6 and June 8 the coin attained a high, and then prices started to drop again. It was yesterday that there was an upward movement reported in the ETN price (BTC).

Electroneum Price Prediction:

Electroneum currently is ranked at 121 position in the global markets, and although the coin can be used for instant payments from anywhere in the world through mobile phones, it is yet to reach its full market potential leading to a steep price surge. The concern, however, is that it should not disappear from the chart before that. If Electroneum finds a firm ground, the coin price may increase up to $0.009 by the end of 2019.

Conclusion:

It is not safe at the moment to think about long term investments in ETN token, but the second half of the year may result in growth trends, and hence small investments are not a bad option either.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button