2021 had a bullish start! The king cryptocurrency Bitcoin, started this year with all-time highs , due to its great demand and interest at both retail and institutional levels. BTC price surged to $34,000 on Sunday, the day of Bitcoin Network’s 12-year anniversary. Following the bitcoin rally major altcoins also showed strong bullish sentiments. Electroneum (ETN) coin rallied almost 15%.
Electroneum – ETN Price Analysis
On Jan 4th 2021, The electroneum price opened at $0.004780 with the surge of 15%, the ETN price hit the 24-hr all time high reaching $0.005182. According to Technical indicators, the Electroneum broke through the 200-Day Moving Average and is currently consolidated above it. However, looking ahead, if ETN manages to stay above $0.0045, then $0.005, $0.0057, $0.0066 are the resistance levels.
Currently, ETN is trading above the double bullish cross of the 200MA and 1-week Exponential Moving Averages. If the altcoin plunges below $0.0045, then the closest support levels lies at $0.0043 and $0.0037.
At press time ETN is trading at $0.004988 Electroneum is ranked 155th among cryptocurrencies by market capitalization at $52,108,073. The current supply is 10,223,582,959 ETN of 21,000,000,000 ETN, which means that almost half of the maximum number of coins has already been mined. The cost of one ETN coin equals 0.00000016 BTC.
Reasons Behind Drastic Surge !
AnyTask.com – a freelance marketplace backed by Electroneum
This week marks the first time a #Crypto company will advertise their product on mainstream US TV! Take note of @anytaskofficial part of the @electroneum family of products. @ForbesCrypto @business @Adobe Keep your eyes peeled this is about to be huge. #ETN #Monday #electroneum pic.twitter.com/uyCev3IZ7g
— Michael Marsh (@MichaelNMarsh) January 3, 2021
AnyTask entered the market at the right time! The platform aims at providing an opportunity for income through online freelancing at no cost to sellers. It provides a digital economy across the globe for even those who are unbanked or just use smartphones.
— AnyTask (@anytaskofficial) January 4, 2021
The Electroneum backed freelance platform also looks out for buyers, giving them full payment security and a 100% guarantee of full refund.
The interesting part of the platform is that AnyTask connects freelancers who are eager to earn ETN with buyers of digital tasks who in many cases don’t understand cryptocurrency
Electroneum World’s First Crypto Advertisement On USA Television
📅 Today is the day …
— electroneum (@electroneum) January 4, 2021
As per the announcement from the head of Electroneum, the major TV ad campaign in the United States has been moved forward from 28 December to 4 January 2021.
According to Mr. Ells.
“As of 4th January, our AnyTask ads will air on major television networks such as CNBC, Fox Business, CNN, and many more, making us one of the very few crypto startups to advertise on TV,” “The campaign will then be expanded worldwide, gradually. As soon as we have the full list of the TV channels, dates, and times of these ads, we will make it public. ”
Electroneum is a UK-based cryptocurrency form consisting of around 50 employees. The platform was launched in the year 2017 with a $40 million ICO. The main objective of the platform is to provide a mobile-based payment solution for the world’s unbanked population, which to this day includes more than 1 billion people across the globe.
Till date, Electroneum’s progress in terms of technology, advertising, and getting listed on major exchanges did help its price take off.
Since the cryptocurrency market tends to follow Bitcoin in terms of price trends, ETN was bound to lose its original high price along with the rest of the market almost from the very beginning. However, the project has solid support from the community and has a chance for a bright future.