Key Highlights
- The market is currently at the major critical demand zone at 0.00000047BTC, the investors are already coming into the Electroneum market, and the demand would be higher than the supply.
- The Token should begin slowly to show some bullish swing as expected; the price is unable to break to the downside because the buyers seem more hopeful that the market will go up considering the “Head and Shoulder” trading setup already formed.
Electroneum Current Statistics
Current Market Price: 0.00000047BTC
Market Capitalization: $43,900,155
Trading Volume: $1$132,535
Major supply zones: 0.00000075BTC, 0.00000097BTC, 0.00000150BTC
Major demand zones: 0.0000003BTC, 0.0000002BTC, 0.0000001BTC
Latest News around Electroneum
The news summary concludes that the new radical Electroneum upgrade has brought in some limelight for nonprofit miners. The announcement was also made that the UK based Electroneum platform has made all its local miners redundant and turned them all to charities and nonprofits.
Electroneum Price Analysis
Based on the price action of this cryptocurrency, the market is currently forming a unique trading setup known as “Shoulder Head Shoulder.” And if this setup finally plays out as expected, then the bulls will surely dominate the whole market for the next trading days ahead.
ETN price has finally rested at the oversold base level at 0.00000047BTC; the bears appeared to have taken out their long term investment profits at this level. And if this level holds firmly without being compromised, there would be a massive long term bullish bias.
Chart Indicators Reading
The Moving Average indicator is already supporting that the bullish momentum should begin. On the other hand, all technical market tools are also pointing that the bullish rally should commence, considering the importance of Head and Shoulder trading setup we currently have.
General Outlook for ETN/BTC pair
The trend of the ETN/BTC pair is currently showing an uptrend, considering the powerful trading setup we are having at the current 4hour market analysis.
It is advisable to strictly follow the market structure and setup before making any investment decision on Electroneum or any other cryptocurrency.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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