- ETN price is currently trading near the value of $0.00902 with a loss of 2% in intraday session. ETN/BTC pair is also seeing a consolidated momentum.
- Electroneum has given a negative crossover on the daily chart. In Contrast, its looking to give a breakout soon
Electroneum was launched in 2017 by Richard Ellis with an aim to create a fast crypto payment. It is the first UK based cryptocurrency which raised $40 million dollars through their ICO. Electroneum launched its first Android mobile “mining” application in March 2018 where people could take advantage of the processors of their device to mine ETN coins. This a huge surge in ETN mining and various people got advantage of it. ETN token price has seen an exponential growth in the past and is on its way for more upswings.
Electroneum is currently ranked 255 in the CMC with a high ROI. The volume of the asset along with the market capitalization has seen an exponential increase from the past few weeks. The Volume to Market cap ratio of the coin hints at an upcoming bullish trend.
Technical Indicators Price Hints At A Bullish Momentum For ETN Token Price
Electroneum weekly chart hints at a consolidated momentum on the weekly chart. Meanwhile the price hints at a bullish momentum on the daily chart. It has given a negative crossover in the moving average on the daily chart. It is currently looking to break through the 50 MA resistance in the future.The resistance for the coin on the upside can be observed near $0.02. Meanwhile a support region for the price can be seen at $0.006 .There is a formation of accumulation zone on the daily chart. If the price jumps 10% above the accumulation zone then a strong bullish momentum can be seen. ETN/BTC pairs can also see a strong uptrend in the near future. One can expect a strong bullish momentum for the price in the upcoming days.
RSI(Bullish): It is currently trailing at 36.31 highlighting its presence in the neutral zone. There is a small positive slope formation in the RSI, which hints towards the uptrend .RSI depicts a bullish momentum for the price in future .
Conclusion
Electroneum has given great returns to its investors in the past and can do the same in the future . The current market scenario supports the price to a level of $0.1 in the upcoming months . Investors should do their due diligence before investing.
Technical Levels
Major Resistance:$0.02
Major Support:$0.006