Key Highlights
- ETN is expected to have one more downswing before a bullish recovery.
- The market is currently undergoing a bearish pressure and this downtrend is likely to meet an obstacle at a major demand zone of $0.00000018.
- In this zone, it is possible for bulls to step into the market and struggle with bears.
Electroneum Current Statistics
Market Capitalization: $55,349,642
Trading Volume: $357,273
Major supply zones: 0.000000120, 0.000000150, 0.000000180
Major demand zones: 0.00000018, 0.00000010, 0.00000005
Latest News on Electroneum
It was said in the news that Electroneum has recently gotten approval from Apple to introduce the new update in its iOS, and since ETN has a large base of iOS users, this update should get the user registration process faster.
This is a good signal for the ETN market as the user base will be increasing with increased ease of access in the app.
ETN/BTC Price Analysis
ETN is currently trading in a downward price movement and this bearish swing seems to continue. However, a great significant demand zone is spotted at 0.00000018 and this zone may likely hold the price or limit the downside movement, and buyers may decide to come in and negotiate the market with sellers at the demand zone mentioned.
Chart Indicators Reading
All chart Indicators are signaling that the price may have one more downswing towards a major demand zone at 0.00000018. The buyers tend to dominate the market because a good bullish momentum is possible to be seen in the upcoming trading days from the aforementioned zone.
General Outlook for Electroneum/BTC
The future outlook for ETN/BTC is bullish as price may go upwards to supply zones listed above. And this is a good signal for the market recovery, and the bulls may take a cognizance lookout for a rally towards the supply zone at 0.000000150 BTC.
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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