- Bullish Electroneum price prediction ranges from $0.041 to $0.11
- Electroneum coin price might also reach $2 soon.
- Electroneum bearish market price prediction for 2021 is $0.0109.
- Electroneum (ETN) is a crypto-blockchain-related payment system.
This Electroneum (ETN) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key measures that we have taken into consideration upon coming up with our ETN coin price prediction and analysis.
There is an ever-increasing hype surrounding the crypto world. However, many cryptos surged to a new all-time high during this 2021 bull run. In contrast, some crypto also had a downtrend. Therefore, many cryptocurrency traders and investors are confused about whether it is time to hold or sell their crypto for a good price. This might be the same scenario of ETN traders and investors.
Nevertheless, the crypto market is consolidating lately, and most cryptos are losing their previous gains. Is the scenario the same with ETN price? We’ll find out shortly in this ETN coin price analysis 2021 article. But first, let’s have a look at what ETN is are Huobi Global
What Is Electroneum (ETN)?
Electroneum is a mobile-phone-based crypto platform that provides an instant payment system. Moreover, the project was created in July 2017 and launched in September 2017 as the first UK-based cryptocurrency after completing a $40 million ICO.
The Electroneum project’s focus is to offer the quickest and safest crypto transaction with minimal fees for the world’s unbanked population. Truly, great news for the billions of unbanked people worldwide.
Now that we have an idea about ETN, do you think ETN will be profitable crypto in 2021? Join me and let us see the charts in this ETN price analysis and ETN coin price prediction.
ETN Current Market Status
As of the time of writing this Electroneum price analysis, ETN trades at $0.034 with a 24-hour trading volume of $3.75 million. The price of ETN has decreased by 4.04% in the last 24 hours.
Now, let’s proceed to the next part of this ETN technical analysis for 2021.
Electroneum Price Analysis
Currently, Electroneum holds 112th place on CoinGecko. But will the latest upgrades, development, and changes in the ETN blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this ETN coin price prediction article.
In the chart below, which is set in a monthly time frame, we can see the Ascending Channel pattern. An ascending channel is the price action occurring in an upward direction via sloping parallel line. Also, the chart below displays the Higher highs and higher lows form this price pattern. More so, this pattern indicates a short-term bullish.
As shown above, at the beginning of this month, ETN turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.
The Relative Strength Index (RSI) is at 71, which means that ETN is in an overbought state. Hence, this may lead to a price reversal at any given time.
Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.
Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of ETN.
Since the start of 2021, ETN’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, ETN has a competitive market this 2021.
Electroneum Price Prediction 2021
The chart below shows that Electroneum has performed great over the past few days. Moreover, the ETN price is over 68% in the last 7 days. If this trend continues, ETN might run along with the bulls, overtaking its $0.11 resistance level and climb higher.
Conversely, if the investors turn against the crypto, the bears might take over and dethrone ETN from its uptrend position. In simplier terms, the price of ETN might plummet to almost $0.01, a bearish signal.
Meanwhile, our long-term ETN coin price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.236 this year. However, that will only happen if it breaks many previous psychological resistances.
Electroneum has a bright future ahead of it in 2021. With the ongoing developments happening within the ETN ecosystem, as well as in the overall crypto market, we may see ETN reach new heights.
Bullish ETN price prediction 2021 is $0.11. As said above, it may even reach $2 if investors have decided that ETN is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
Electroneum is the first cryptocurrency to provide an instant payment system and expands to the digital payments ecosystem.
Users can obtain ETN tokens by purchasing them from cryptocurrency exchanges such as Huobi Global or BiONE.
ETN is a good investment in 2021. However, ETN has a high possibility of surpassing its current ATH at about $0.23 this year.
Yes, it’s very much possible that ETN might reach $2 in the near future as per the current bullish trend.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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