Electroneum (ETN) News – Electroneum (ETN) gains 24% in just 7 days

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Electroneum (ETN) is touted as the cryptocurrency having a lot of potential. That is why; traders often monitor the price movements of Electroneum (ETN) in order to find out whether it is surging in momentum or whether it is near the buying levels. In the past one week, it has had a stellar performance.

Electroneum (ETN) gains 24% in just 7 days:

A week earlier Electroneum (ETN) was trading around $ 0.0063. The market cap at that point around was around $ 54.04 billion. Currently, it is trading around $ 0.0079. In the last 24 hours, it is up by 1.89%. The current market cap is around $ 68.04 million. Thus, in a matter of just 7 days, it is gained around 24%.

Ever since Electroneum (ETN) became one of the very first cryptocurrencies to be KYC compliant, it has been on the radar of investors. In the last one week, the daily volume was between $ 179,000 and $ 1 million. Thus, in terms of volume as well there has been quite a bit of movement. Needless to say, on the days when the volumes were around $ 1 million, it had surged significantly.

Unlike some of the other cryptocurrencies which were down significantly from their peaks, Electroneum (ETN) has protected most of its gains. It is down just by around 7% from the peak. This is the reason why many traders and investors believe that it might be able to fight back and rise even higher than the highs of this week. As a trader, it is a good idea to let it correct to the support levels and thereafter think about buying. When you look at the support levels of Electroneum (ETN), they are around $ 0.0076.

This means that it is less than 5% away from the support. As the volatility in the cryptocurrency market increases, this support can close down as well. You have to monitor whether it is able to sustain above the support or not. Only when it is able to sustain above the support, you can think about buying. Otherwise, you have to wait for to stabilise.

With increasing scalability provided by Electroneum (ETN), you should definitely keep it on your radar. You have to however understand that in the past as well, it has rallied plenty of times and thereafter subsequently given a part of its gains. That is why; you have to also observe the price movement and thereafter take a call about investing in Electroneum (ETN).

About Priya 131 Articles
I am an IT engineer by qualification and like to explore the crypto and blockchain space in my free time.

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