Price Analysis

Electroneum (ETN) Price Analysis: How Long will Bears Affect ETN Price?

Electroneum, the cryptocurrency that was built in 2017 was especially aimed at mobile audiences and smartphone users. It was developed to offer ease of use in order to increase mass adoption.

At present, the currency is tumbling showing significantly low prices. As currently, many investors and market experts are finding ETN price pattern quite confusing, the crypto-coin has lost its position from the top 100 cryptocurrency ranking. This shows how the price drop has impacted the crypto space. In this scenario, a market bull run that can improve its price is much awaited.

Current Statistics:

AT 12:06:39 UTC, the ETN price is as less as 0.00000055 BTC. The Market Capitalization stands at $41,972,733. Meanwhile, Electroneum holds 9,501,335,859 ETN in its total supply.

Electroneum (ETN) chart

 

Comparison

As we can see, the chart does not show any exciting price trend. The currency had started this year with its price standing at 0.0000020 BTC. Since then, the price kept falling, and eventually, the price now is as less as 0.00000055 BTC. This indicates a decrease of 72.5%. However, we can still hope for an increase in price as a week ago it was revealed that Apple has approved ETN’s request for the recent update in their app on Apple Store. Considering Apple’s worldwide popularity, ETN can access mass adoption.

Prediction and Conclusion:

Looking at its price trend, we can predict that ETN can go a bit more down in the short term, but, after that, it is likely to take a rebound in its price. Investors can expect better results in the long term.

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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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