Electroneum Price Analysis: Will ETN Coin Price Reach The 10X Of The Current Value?

• Electroneum price is currently trading near the value of $0.008 with an intraday gain of 1.98% .  In contrast, ETN/BTC pair is seeing a bullish momentum.
• Technical indicators for ETN coin price suggests an uptrend in the future. Meanwhile, it is currently trapped in the supply zone.

Electroneum was launched as way of fast micropayment between the general public by Richard Ellis in 2017. It has raised more than $40M in their ICO and is also one of the first cryptocurrency of the UK.  Electroneum was the first to launch the android mining through which people can take the help of their mobile phone processor to mine the ETN. This acted as strong catalyst for the price to rise higher. ETN coin price is currently in a slump but can soon see a major bullish breakout..

Electroneum is ranked 255th in the CMC with the market capitalization of $159,473,250. The volume of the coin has seen a decrease of more than 20% in the last few weeks. The Volume to Market cap ratio of the coin suggests a consolidated momentum in price.

Technical Indicators  Price Hints At A Bullish Momentum For ETN Token Price

ETN coin bulls are on halt on the weekly technical chart. Meanwhile the price is in a consolidated momentum on the daily chart. There is a negative crossover in the moving average on the chart. It is currently looking to give a breakout above the 50 DMA resistance in the future.Resistance for the ETN coin on the upside can be observed near the value of $0.015. Meanwhile a bounceback in the price can be observed at $0.006 .There is a formation of supply zone on the daily chart. If the price goes 15% above the supply zone  then a strong bullish momentum can be seen in upcoming days. ETN/BTC pair is currently in a slump but can soon see a major breakout.

RSI(Bullish): RSI for the asset is currently near the value of 35.5 with zero slope formation. This tells a possibility of consolidated momentum in price for upcoming days .   

Conclusion

Electroneum has seen an exponential surge in its user base from the last year. ETN coin price is currently in a supply zone but can soon see a major breakout  . Investors should do their due diligence before investing.

Technical Levels

Major Resistance:$0.015

Major Support:$0.006

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