Price Analysis

Electroneum (ETN) Starts an Uptrend as Bitcoin Crosses $10,500

  • Electroneum has resumed its price recovery today, traces a bullish trendline
  • Yesterday’s price drop has been halted, but the coin still carries selling pressure

Electroneum price has been rebounding since yesterday against Bitcoin. The coin has recently traced a close near 0.0000003368 and has corrected down from there. It is to be noted that, as Bitcoin price has reclaimed the price mark of $10,000, a majority of altcoins are gaining mildly.

Yesterday, Electroneum was trading in a bit higher price range as compared to today’s price movements. The coin opened at 0.0000003466 and after a minor dip, it reached a bit higher near 0.0000003468. After that, the coin took a downtrend and hit the bottom at 0.0000003211 in the letter part of the day, where it noted a decrease of 7.42%.

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The coin, however, managed a price recovery before closing on the day at $0.003511. Continuing the rebound, ETN today went as high as 0.0000003368 with an increase of 5.10%. At 06:34:57 UTC, ETN was trading at 0.0000003226.

ETN/BTC Price Chart

Electroneum Price Chart
Electroneum Price Chart

The short term SMA line of Electroneum is about to climb the long term SMA line, indicating an upcoming bullish move. Notably, the current price of the coin is below the 5-day SMA of 0.00000035 and also the 50-day SMA of 0.00000042.

Electroneum Technical Indicators:

MACD is set to enter the bullish zone with its MACD line above the signal line. RSI is also showing a stable momentum, while is around 50. The coin may see resistance near $0.00365 and support near $0.003115.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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