Fans of Electroneum will not be too pleased with the way the price has evolved in recent days. A severe amount of bearish pressure has affected this market lately. For now, the Electroneum price seems to hold its own at $0.0066 or 191 Satoshi. Although these values are still respectable at this time, it seems further negative pressure might materialize pretty soon.

Electroneum Price Onslaught Continues

As long as Bitcoin continues to bleed value, most of the other markets will follow suit without batting an eye. It is uncanny how many projects rely on Bitcoin’s “goodwill” to note any gains of their own. While now would be an opportune time for altcoins like Electroneum to improve upon their Bitcoin value, it seems such trends are not materializing. Instead, it appears all markets will continue to bleed value just like Bitcoin. An unfortunate development, but one that isn’t entirely abnormal either.

Over the past 24 hours, the Electroneum price has dropped by another 3% across the board. The USD losses are not necessarily the big problem here, but the decline in ETN/BTC will make a lot of speculators twitchy. Dropping below 200 Satoshi wasn’t entirely unexpected, but it remains unclear where the new support level will be found exactly.

This price trend is not in line with the most recent ecosystem developments, though. Ever since launching the iOS mining app, the overall feedback has been very positive overall. In fact, some of the reviews written on the Apple App Store are quite intriguing. People seem to genuinely appreciate this application and the “free money” they can earn with it as well. A very positive development which seems to not impact the price at all.

There is also genuine excitement regarding Mobile World Congress 2019. This yearly event brings together the biggest players in the mobile space. Electroneum will be represented for the second year in a row. Whether or not it will be a success, remains to be determined at this time. Any positive exposure will be quite valuable in the long run.


As is always the case, there are plenty of people who do not like altcoins or alternatives to Bitcoin in general.  911RS2 Falls into this category, as the user is confident Bitcoin is the only currency that matters in this space. The likes of ETN and others will disappear into obscurity sooner rather than later. That will only happen if Bitcoin could gain some genuine traction, though, which remains up in the air at this point.

Behind the scenes, things are coming together for Electroneum across the board. None of these developments have any positive impact on the price right now, which is a bit worrisome. Even so, there is a genuine chance all markets will turn bullish again later this year. Until then, the ongoing bearish pressure will not necessarily relent anytime soon. For Electroneum, that means a drop below $0.0065 may be on the horizon fairly soon.



Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.


LEAVE A REPLY

Please enter your comment!
Please enter your name here