Electroneum Altcoin in the Green, Trend Might Not Last Long ThoughNovember 17, 2018
In the current trend, it is not possible to expect an uptrend with major cryptocurrencies. The overall market cap is continuing to go down every day for major cryptocurrencies. It is not easy for the Altcoins to overcome this current trend easily in the near now.
For Electroneum, things are not very bad, there is some promise. The value of Electroneum is in the green and it is possible for Electroneum to enter into the top 50 list for market cap.
Most of the cryptocurrencies, which are in the top 50 have touched the red, and some are barely green, and there is no excitement in the market right now. It is true that a moving forward situation is set to come. However, for now, the price of Electroneum is making some decent moves. The rest of the ETN companions are down to floor and chances are bright for ETN to rise up to claim a place among the top 50.
The price of ETN has been improving in the past 24 hours. There has been a 4% gain in the value of USD and a 4.5% increase above Bitcoin. However, things were not bright a few days ago. This eventually pushed the value of Electroneum to $0.0127 again. This indeed is an exciting development. While there might not be too many gains in the forthcoming weeks, this movement is considerably good. However, the good news is that the price of ETN is seeing an increase.
This Altcoin can be used to pay for goods and services. Being able to pay for Pizza is one of the exciting developments for Electroneum. While this does not mean a lot in the short-term, it does make a difference in the long run.
We are not able to see a particular price trend for Electroneum forming now. However, a downtrend is expected throughout 2018, and it will resume to an uptrend in 2019. This is not the right time to invest in cryptocurrency, because none of the cryptocurrencies are having a stable trend. Also, the trend might not last for long though.
The price of ETN on KuCoin, they say some bot is manipulating it, and therefore it need not be promising. Every time where there is a price uptrend the price goes down due to manipulation by the bot. However, this kind of manipulation is not uncommon in exchanges, and this trend issue is not unique to Electroneum.
In the quick succession, things can get to be very interesting. The very low trading volume will be a hurdle For Electroneum. Since the $570,000 worth in volume will not cause the market move, the dip to $0.0125 might not materialize to any good too soon.