Price Analysis

Electroneum Price Analysis: Electroneum Can’t Breathe Anymore Without Any Market Intervention

eToro
  • Electroneum (ETN) needs partnerships and associations now to sustain.
  • The 2019 prediction target goes with 0.007 USD.

Electroneum (ETN) is one of the worst performers of the year until now. The coin has no sign of revival in the near future, and the decreasing market cap shows the number of users backing out from this coin. To sustain in the market, the coin needs some intervention in the guise of partnerships and collaborations. As it is eyeing the South African market for quite a time, it is now in the intermediate position before operating from there in a full-fledged manner. It is also anticipating the launch of its iOS app anytime soon. But, these events will never be enough for ETN. This coin needs more intervention. Looking at the price trend, we predict a bearish short-term but a bullish long-term outlook. By the end of 2019, the value should be somewhere around 0.007 USD. Let us look at the current status of the coin.

Current Electroneum Price Statistics-

ETN Price Chart

eToro Crypto
  • Electroneum (ETN) is the 129th ranked coin in the market.
  • The ROI (Return on Investment) stands at negative 95.26%.
  • A total of 9,526,389,167 ETN coins are in current circulation.
  • The market cap as on 30th May at 04:15 UTC stands at 42,686,583 USD.
  • And the value of each coin stands at 0.004481 USD and 0.00000052 BTC.
  • The 24h volume stands at 528,698 USD.

ETN/BTC Price Comparison-

As mentioned earlier, Electroneum (ETN) has been on a downward trend for the last five month. There is one instance of price revival but that was for a short stint. The 1st big downfall can be seen on 03rd April when the coin lost 35.18% of its value in 21 days and the next big fall was on 13th May when the coin lost 43.59% of its value in 13 days. The market cap on 30th April was 45,653,387 USD and the value of each ETN coin was 0.00000089 BTC. The current market cap and the value of each coin are respectively 6.49% and 41.57% less than the figures for last month.

Electroneum Price Prediction-

The coin is trying hard to bring some associations and partnerships on board. If the plans in the pipeline get realized, there is no doubt the coin will bounce back. We predict a bullish medium-term for the coin. By the end of 2019, the value may reach to 0.007 USD.

Conclusion-

No fresh buying is advised before the coin shows some signs of revival. The existing holders need to wait at least until the 1st quarter of 2020.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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