In the cryptocurrency world, it is always difficult to determine how markets will evolve. While the momentum is positive, most markets tend to follow the overall trend. With a bit of bearish pressure, most projects are declining rapidly. The Electroneum price, on the other hand, is trying to move up again and reclaim its spot in the market cap top 60.
Electroneum Price is Inching up Again
With a lot of bullish market momentum over the past few days, it is only normal there would be some sort of reprieve at some point. While that reprieve results in medium-sized losses for most of the altcoins, tokens, and assets on the market, some other projects will buck the trend. Electroneum appears to be one of those projects, as it is carving out some fresh gains despite overarching bearish momentum.
To put this in perspective, it would appear the Electroneum price managed to gain 1.2% in USD value and 1% on Bitcoin. Because of these minor uptrends, the value per ETN has risen to $0.0072 once again. In terms of ETN/BTC, the ratio sits at 182 Satoshi. A push too 200 Satoshi would be rather bullish, albeit it seems unlikely to happen anytime soon.
Twitter is abuzz with discussions pertaining to Electroneum, and seemingly for good reason. More specifically, it appears the mobile app – which introduced cloud mining a while ago – will get a new feature. Through that feature, users will be able to top up airtime or mobile data with ETN. An interesting concept, although it remains to be seen what this will entail exactly.
In terms of getting listed on a new exchange, the DynX Exchange voting is still ongoing at this time. Although it seems as if Electroneum has lost some ground in the vote itself, that situation can still be rectified. Nourdin believes ETN will make a comeback and beat its competitors with relative ease. A bit of an optimistic outlook, albeit one never knows what might happen.
— ⵣ Nourdin ⵣ (@Nourdin261084) February 20, 2019
When looking at the actual ETN price chart, a very interesting image becomes apparent. The ETNBTC chart looks as if there will be some serious resistance between now and 200 Satoshi. There is also no reason to expect any bullish outbreak right now, as slow and steady will win the race. Even so, ET will hit its stride eventually, either for better or worse.
#ETNBTC @kucoincom 8h chart @ 183 Sats
Looks like #ETN is forming a fulcrum bottom like pattern, MACD histogram above the 0 & building. 200 Sats will be serious resistance. Have fun, #Electroneum is a champion crypto. I like the slow build, a house needs good foundations. pic.twitter.com/O1gWVybrYF
— Rágnár Ván Töndérsön (@Slipcatch) February 20, 2019
All of these signs point toward a minor push for Electroneum which may eventually result in sideways trading for a while. It is obvious all crypto markets need a breather right now, yet Electroneum is trying to push the pace in this regard. That is not necessarily a bad thing, but all traders and speculators need to keep their expectations in check first and foremost.
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.