Electroneum (ETN) Exhibits a Flattish Trend

• Electroneum (ETN) is trading at around 0.003952 USD.
• Against Bitcoin, the crypto was valued at 0.0000004871 BTC

Electroneum has been launched in Turkey recently on the System Coin exchange. Further, it can be traded against Lira, the currency of Turkey. Additionally, mobile users in Turkey can top up mobile airtime and data by using the crypto as a payment option.

Electroneum Price Analysis:

Let’s have a look at the variation in the coin against Bitcoin over a period of 25-days. On September 12, Electroneum was valued at around 0.0000003370 BTC per chip. From there, the coin has moved up by a substantial amount and is trading today with a hike of 44.54%. However, in the weekly trading, the altcoin has moved by making a flattish action at a rate of 0.68% from the level of 0.0000004832 BTC on October 07. Nonetheless, in the intraday trading, ETN dipped by a small margin of 1.3% from the level of 0.004010 USD to 0.003957 USD, yesterday.

The coin is currently trading in the green zone. The resistance for the coin is at 0.004033 USD and support level at 0.003871 USD.

There has been a lot of expectation from the coin, especially after its launch in Turkey. A noteworthy fact is that almost 70% of the population in Turkey has some knowledge of cryptocurrencies unlike 57% in the US. Further, 20% of the people in Turkey hold one of the cryptocurrencies. Meanwhile, the short-term trend in the coin is bearish. However, the long and medium terms are bullish at the current level.