Wednesday, May 22, 2024

Electroneum Price Analysis: ETN Coin Price Dips After Significant Upsurge

A week ago, Electroneum Price reflected an unexpected rise, and it seemed like the coin dealers are in for moderate profits. ETN coin recorded an upsurge of $0.003615. However, the volatility of the market didn’t leave this rise untouched and ETN fell approximately 1.60% in the last 24 hours, now ranking at 0.0000003405 BTC. This shift isn’t just one because in the past 24 hours, ETN price has undergone 4 drastic shifts. As per reports by the pioneers, a bearish movement is being reflected in the Electroneum price analysis on the intraday chart. Taking that into account, the investors can take a day off from trading tomorrow because ETN might not have much in store for them.

ETN Price Analysis

Almost all the coins in the crypto currency market today, are in the bearish zone, so there is no reason why Electroneum should behave differently. What spiked hope among the traders was the rise in ETN in the past week. However, the vertical drop in the price has scared the traders, which is not expected to recover soon. 

John McAfee, one of the most well-known influencers on the crypto market, believes that Electroneum, all thanks to the following factors, will end up doing well in longer run-

  • He believes that Electroneum will appeal the users from all walks of life, irrespective of their acquaintance with technology, more in the coming future due to its ease of use
  • It is a privacy coin 
  • Electroneum coin is backed by a massive community of crypto enthusiasts, which can aid its mainstream acceptance 

While his forecast may or may not turn out to be accurate, it is a functional validation for ETN coin.  

However, considering the trading volume trends and historical price trends, ETN is a high-risk one-year investment.  

Hence, based on factors such as market trends, current performance, technology, and expert analysis, Electroneum price will be around $0.000000400. 

A few days back, Electroneum was seen moving with a steep upward movement. The increase in the price helped ETN in improving the rank. 

Considering today’s chart, Electroneum touched the maximum at $0.004783 and a minimum at $0.003718. As of September 20, 2019, the volume marked was $280,717 and current ranking is 91 in coin market cap.

What does the current statistics say? 

On Saturday, Electroneum started the day at 0.0000003689 BTC, and it was increased by 5.86% to reach 0.0000003905. However, the ETN price fell by 7.06% from 0.0000003883 BTC to 0.0000003608 BTC in the later hours. However, the rate immediately improved by 4.67% to 0.0000003777, and the intraday progression was marked at 2%. With some minor fluctuations, the day closed at 0.0000003760 BTC. Yesterday, Electroneum plunged to 0.0000003601 BTC from 0.0000003760 BTC by 4.23%. 

Read more: Electroneum: Predictions and Trends That Are Going to Rule 2020

What is the prediction for Electroneum price? 

We all know that Electroneum is a power-packed cryptocurrency. Millions of people have shown their attentiveness in the coin. The traders who are now used to coin-based transactions know the ease and excitement of it. While among all the popularity it has been gaining lately, it might not be the best time for Electroneum. However, it is projected that the coin will experience a substantial recovery. There are total 9,811,865,998 Electroneum coins, out of which 9,818,589,825 ETN coins are circulating in the market.  Trade experts are positive that Electroneum coin’s future is brighter than anticipated. 

Monesh Kumar
Monesh Kumar
Monesh Kumar is a cryptocurrency and blockchain enthusiast. He trades cryptocurrencies and holds some but he prefers holding Bitcoin, Ethereum & Cardano.

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