Price Analysis

Electroneum Price Analysis: Is Electroneum (ETN) Preparing its Coffin?

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  • Electroneum (ETN) is continuously falling for straight 3 months.
  • The long-term outlook is bullish; the target should be 0.007 USD.

Electroneum (ETN) is one of the few coins that have performed drastically worse in the market. The value of each ETN coin was 0.007 USD at the starting of the year, and it is now roaming around 0.004 USD. The Market Cap has also diminished at a similar degree in the last 4 months. Investors have become a very skeptic of the future of the ETN coin. Some investors also predict that the coin may fall to 0 USD by the end of this year. But looking at the price trend in the month of March and April, we predict the coin to rise after a short stint of fall. By the end of 2019, the coin should be back to its previous normal of 0.007 USD to 0.009 USD. We should now analyze the current figures of the coin to understand the pattern clearly.

ETN Price Chart-

Electroneum price chart - May 29

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Electroneum Price Statistics-

Electroneum (ETN) 29th May at 01:44 UTC
Rank 128
Circulation Coins 9,520,579,209 ETN
ROI (Return on Investment) -95.33%
Market Cap 41,688,626 USD
ETN Coin Price in USD 0.004379 USD
Price in BTC 0.00000050 BTC
24h Volume in USD 418,063 USD

ETN Price Comparison in BTC-

As mentioned earlier, Electroneum (ETN) has been falling since the starting of the year. Contrary to the global market, at the onset of April, ETN lost 35% of its value in 21 days falling stint. The market cap and the value of each coin in BTC on 29th April were 45,870,363 USD and 0.00000089 BTC. These figures are respectively 9.11% and 43.82% less than the current figures.

Electroneum Price Prediction in USD-

Amongst all the pessimism, we predict the coin a better future. As per our prediction, the coin will now fall to 0.003 USD level before rising. The resistance points will be there around 0.005 USD, 0.006 USD, and 0.0065 USD. By the end of 2019, the value should be around 0.007 USD to 0.009 USD price level.

Conclusion-

We will not advise any potential investors to jump into Electroneum (ETN) now. Investors should wait for the resistance point to be over. Existing holders do not have any option than waiting for a long-term. On the long-term, this coin will definitely be profitable.

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.

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