Electroneum News

Electroneum (ETN) Stabilizes After a Price Shoot Up

Today, the price of Electroneum has been recovering its loss of valuation until 3:00 UTC, as it was as low as $0.0034. the rebound journey halted when the coin faced rejection at $0.0037; now, the ETN has recently formed a support level at $0.0035. Let us see if the coin again reaches above $0.0037 over the second half of today.

Electroneum Price Analysis

  • Yesterday, the coin saw two opposite price trends; recent price fall was as hefty as 9.78%

The currency has seen quite a volatile movement on Wednesday. First, ETN price saw a massive escalation above $0.0038 with a rise of 22.63%, and then, it started a reverse journey a little before it could touch the $0.0039 price mark. However, the Electroneum marked a gradual yet heavy decline after that before it bottomed to $0.0034.

Electroneum (ETN) Price News
ETN/USD Chart By TradingView

This decline, along with today’s fading recovery, has washed out yesterday’s gains by almost 50%. The coin needs a strong price boost to get back in the race.

  • The price escalation of 22% has been washed out after the pullback; technical are giving mixed signals

Electroneum price is currently wavering between the green zone and the red zone. And this is not the first such dilemma after mid-March. Here, the ETN price is just above the moving averages, and a minor plunge can take it below them. MACD is set to enter the bearish zone while RSI is stable.

Jason Palmer

Jason Palmer joined CoinNewsSpan as an editor and analyst. He has over five years of experience as a forex analyst. He holds a master's degree in business administration with specialization in finance. He is actively involved in analyzing the prevalent crypto trends. He has a keen interest in commodities and forex trading.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button