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Electroneum (ETN): Short & Medium Term Investors Should Avoid Buying

Electroneum (ETN) is a blockchain as well as a cryptocurrency, which was developed specifically for mobile audience and smartphone users. It was originally developed to be used as a virtual currency in mobile gaming and online gambling markets. Electroneum has a dedicated mobile application supporting several languages and aimed at extending the crypto market’s financial system to every corner of the globe. Having an actively engaged community, Electroneum developers wish to extend the alternate and open financial services to very end mobile user.

According to coinmarketcap.com, on April 26, at UTC 10:04, Electroneum (ETN) was trading at USD 0.004782. Again, it is ranked at the 103rd place in the cryptocurrency market, with a negative 94.93 % of Return on Investment (ROI). It has a total coin circulation of 9,342,029,852 ETN. The current market cap of Electroneum is USD 44,677,051. Additionally, the value of Electroneum coin against Bitcoin (BTC) is 0.00000102, and its 24-h volume stands at 244,469 USD at the same time. Furthermore, on April 1, 25-days back, it was trading at 0.005778 USD. If we compare that price with today’s, the price of Electroneum (ETN) has been deteriorated by almost 17.2%.

Let’s have a brief look at the variation of price of Electroneum (ETN) over time. The crypto hit the top of Bollinger Chart on Nov 02, 2017, and traded at 0.236234 USD. Nevertheless, on Apr 26, 2019, it dropped to the bottom and priced at 0.004769 USD. Yesterday’s high and low for Electroneum (ETN) was 0.005169 USD and 0.004806 USD respectively. While the coin opened yesterday at 0.005048 USD, it closed at 0.004848 USD with a cumulative loss of 0.000200 USD (3.97%). The total trading volume of Electroneum (ETN) for the previous day was of 195,046 USD.

Electroneum (ETN) Price Forecast:

Electroneum (ETN) is facing backlash for more than a quarter now, and it is not going to end soon. The inconsistency and instability of Electroneum are the main reasons behind it. According to experts, the cryptocurrency would continue this bearish trend. However, there might be some correction along the way. Moreover, it will not be good to draw any conclusion regarding the future of Electroneum as cryptocurrency industry is an ever-evolving one and no one is certain of what may happen at the next very moment. According to experts, short term investors should avoid buying for now. The medium-term of Electroneum (ETN) seems bearish as well. The coin is not going to give a profitable return in the short and medium term. However, the long term outlook is bullish. Electroneum (ETN) may reach as high as 0.01 USD to 0.015 USD level at the end of 2019.

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