It has not been a good week for Electroneum. Although this altcoin remains incredibly popular, its price continues to get battered day after day. For the time being, the currency remains above $0.015, but that level may begin to falter in very quick succession as well. The coming hours will be crucial for Electroneum in many different ways.
Electroneum Price Struggle Continues
The current negative price momentum affecting Electroneum is not unique to this currency whatsoever. In fact, virtually all major markets suffer from losses right now, primarily because Bitcoin is incapable of getting its act together. As such, all altcoins are dragged down with it, and that situation may not necessarily change in the near future either.
Over the past 24 hours, the Electroneum price has lost another 8% in both USD and BTC value. That is anything but promising where speculators are concerned, although those with a long-term vision aren’t necessarily worried just yet. For the time being, the value holds its own above $0.015, which appears to be acting as pretty solid support for this currency.
There are some interesting developments which may catapult the ETN price upward again. First and foremost, the Electroneum team decided to extend the KYC deadline. This measure has been subject to some controversy ever since it was announced, although it appears to be a logical step in the evolution of this altcoin.
#GOOD #NEWS
Team @electroneum has extended the KYC deadline!!
Hurry up guys…….
Lots of announcements depend on this ……#ETN will be MOONING soon.
Tighten Ur sit belts for a BULLISH ride ahead!!!#ETN#TOPCOIN#bestaltcoin#blockchain #Bitcoin #Fintech— Joy (@JayCriptorich) November 10, 2018
Secondly, another exchange has listed ETN, which will further improve the overall liquidity of this altcoin in the future. Sistemkoin, one of Turkey’s up-and-coming crypto trading platforms, pairs Electroneum with the Turkish Lira. It is a bit unclear if they will also open up a Bitcoin pair for ETN in the future, although that is not necessarily something to be concerned about at this time.
https://twitter.com/Mrs_Electroneum/status/1061188206526369792
G Trader is one of those traders who maintain a long-term view on Electroneum. In his opinion, it seems to be a matter of time until one ETN is valued at $3 or more. While that may be an incredibly bullish outlook first and foremost, it is not necessarily impossible to be achieved whatsoever. A very interesting outlook, to say the very least.
Today I buy more @electroneum and will hold over 250.000 coins really happy with the growth of the company which in 2 years I feel 1 #etn will be worth $3 to $6 USD this is just my thoughts I will for sure be buying more in 2019 #ETN #Blockchain #Electroneum
— RLG Trading (@RealGTrader) November 10, 2018
All current indicators point toward an interesting weekend where Electroneum is concerned. Whether that will be for better or worse, is incredibly difficult to predict right now. Most top markets seem bound to reverse course in the coming hours, which would be rather promising for all altcoins as well. An ETN price of $0.015 needs to be maintained first and foremost, albeit that may be fairly difficult unless something changes.
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.
Image(s): Shutterstock.com
