Electroneum (ETN) Price Analysis: The Bear on ETN’s Path is not Moving Anywhere; Value May Degrade Further

Electroneum (ETN) crypto coin targets cell phone and smartphone users. The platform is backed by blockchain technology. It is the only available application in the crypto market which facilitates the users to mine the coin with the ease of handheld devices. The app is available in many languages, and the mobile application helps small investors across the globe in mining and holding coins. The vision of Electroneum (ETN) team is to provide credit to the marginalized section of people who are out of the conventional payment and settlement system.

Current Statistics-

• Electroneum (ETN) is ranked at 108 in the whole crypto market as far as market cap is concerned.
• It has a negative ROI (Return on Investment) of 94.75 %.
• The current coins in circulation stood at 9,300,974,645 ETN.
• The current market cap as on 19^th April at 03:44 UTC stands at 45,948,671 USD.
• The value of each coin in terms of USD and BTC stand at 0.004940 USD and 0.00000094 BTC respectively.
• The 24 h volume at the same UTC stands at 514,444 USD.

Comparison-

Electroneum (ETN) has started this year off with 0.0074 USD level. But it could not maintain the momentum. It started falling right after the 1^st week. It has shown inconsistency in its growth path throughout the last 90 days. The zig-zag pattern has made the investors stay away from this coin. With contrast to the global market, the coin started to fall after April 1^st. The market cap on 19^th March was 56,835,819 USD, and the value of each coin in terms of USD and BTC were 0.006229 USD and 0.00000154 BTC respectively. The current market cap is 19.15 % less than the market cap of the past month. The value of each coin with respect to USD has decreased by 20.69 % in the last 30 days.

Prediction-

The coin is on the path of a downtrend. We predict the coin to move lower furthermore. The coin may lose its value by another 20 % and stay put at 0.004 USD. Then the coin may rise further. But heavy growth is not anticipated. The short term outlook and Medium-term outlook is bearish.

Conclusion-

The path of Electroneum (ETN) has no signs of the bull for now. We advise the investors to avoid the coin for the time being. The holders who are holding the coin should wait for the end of this quarter to realize the minimum possible dividend.