Altcoins Crypto Price Analysis Cryptocurrency

Electroneum (ETN): the Top Performer of the Month

Electroneum is said to be designed for mass adoption, allowing ETN users to enjoy mobile mining through an application, also providing the means of digital payment to the developing countries that virtually have no access to financial systems.

Electroneum is also offering instant payments much like currencies like Stellar (XLM) and Ripple (XRP), but in the meanwhile, it got to the spotlight as one of the top performers of the month, if not the top performer in the course of the last 30 days.

Although Electroneum is seen dropping at the current moment by losing over -2% against the fiat and due to the negative market trend of October 23rd, we can still see it going up by over 100% and 200% on monthly and bimonthly charts.

Electroneum One of the Top Performers of the Month

If anything is certain in the blockchain space it is the fact that the cryptocurrencies lost around -90% of the total value of the market since January 2018. However, some currencies are able to acquire serious gains with unexpected individual bullish trends, just like ETN did in the last 60 days.

Electroneum was seen going up by 50% at the end of September of the current year, in an obvious progress only a year after its ICO sale started, while back in January ETN reached an all-time high of 0.18$ after only 3 months since it has been issued.

However, the currency went down by -90% since reaching its record price, which made it touch its all-time low of around 0.009$ at the end of June, while it is currently being traded at the price of 0.019$ after the last decline of over -2%.

Although Electroneum is being pushed down to the red with the stubborn market dip that took over for the past few weeks, declining by -12% in the last seven days and -14% in the last two weeks, we can still see it up by 114% in the course of the last month, which still places it among the top trading currencies of the past two months.

On the biweekly chart, ETN is going up by 215%, which could eventually aid the currency in easily acquiring its next rebound as it is trying to break the resistance of 0.020$.

It seems that the ETN is slowly being adopted as it is to judge by the recent bull run the crypto had during the past 60 days, which could eventually get it closer to its record price of 0.18$.

What to Expect from Electroneum in the Market by the End of 2018?

At the current pace of growth, even though ETN is dropping for the past two weeks, driven by the momentum earned in the last couple of months, ETN has fair chances of getting to a higher price in oppose to its current value by the end of 2018.

In case ETN would keep the pace of growth it obtained in September of 2018, we could see it easily breaking the resistance of 0.020$ while going for 5 times higher price of 0.1$ per one unit by the end of 2018 and the beginning of 2019.

  

Author: Maja

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