ETN Technical Analysis Society

Thought Id throw this snippet up.

Screenshot_2019-03-04-19-26-37-1

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This may be of help to some.

Screenshot_2019-03-02-21-53-42-1

In reference to your post @Cryptoman976

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Good visual of the different models.
It was a shame that electroneum ended up becoming more centralised with asic mining. They were a little too late in changing the algo to asic resistant, before asics pushed up the difficulty of mining so much.
I get why they had to go back but yeah too many coins mined by a small group.
Looking longterm it probably would have happened at some stage anyway, at least its stable.
Etn was the first coin I wanted to get and the first coin I gpu mined so still happy to see where it goes.

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With the gig economy and mobile mining I believe it will lean more and more towards decentralized.

Dont forget it was changed for the long term plan so it might not suit the conditions of the “now or next week”

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I agree longterm it would have happened eventually. Gpu mining is already on a decline because of increasing power costs and lower value crypto.Still I did enjoy the community around it. The cloud mining could be a little faster though especially seeing the value has dropped a little. I still haven’t got my first 100 lol taken over a month. Phone was 4 times quicker.

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Do you guys recommend to buy now or wait to see if it does lower lows?

Only you can answer that for yourself. As long as you are happy with the price you paid for the amount you want, that’s all that matters. If you are asking what the charts are telling me, I’ll go back to what I said above. We broke some key support and the next stop is 140 sats…but that is not a strong support zone. The next zone with any real muscle behind the support is ~122 sats.

We may never get to either. But my gut tells me we will get to at least 140. I don’t expect any real uplifting news in the next 5 weeks before gig guru launches (supposedly) that would turn us up until the trial in South America is over, becomes permanent and more jump on board.

I am long term bullish and the prices right now are insanely low no matter what. The minimal sat differences in price right now won’t matter in the long run.

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Thank you! This totally makes sense.

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Taking all my lines off the chart and looking only at the fib retracement like Cryptomatt posted above…we just had a perfect touch at the .786 line and seem to be having a small bounce up…that fib line is a very strong bounce line, but we’ll see how it plays out over the next few days…

We are severely oversold on the RSI and the Stoch RSI. Anyone selling now is bonkers or the market is simply being manipulated to drive the price down even at a negative return. That’s my own personal opinion, not financial advice.

image

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What website do you use?

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That’s Kucoin. They use Tradingview charts directly on their trading pairs

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Manipulation at Kucoin…whale operating there…

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Well to be completely honest this price action really doesn’t bode well with newcomers and adoption IMO. Can’t help but feel that some wealthy parties really don’t want us to succeed to gain traction.

I still think we’re just manipulated pricewise ever since instant pay beta pump. Because all our buys will as I feel always get doubled down on the selling side, someone buys 100k coins someone will instantly sell 200k coins (ish) from what I can see the past months ever since we had the initial payment beta live.

Or it’s just as simple as people from early era leaving the scene, and that block rewards are simply way high for current market.

Though rewards are drastically fading down and in a not to distant future there will probably be bigger brawls about who buys/recieves those Daily coins
If we fail a good bounce on this .786 fib line our coming weeks might be rough for alot of you.

I’m not turning against the project im still very optimistic and braceful for the longterm goals of the project and I have very good faith, but for this initial trial in SA currently I would’ve loved atleast some decent stability which would obviously be much more attractive!

VERY worth mentioning though is that we’ve been trading the USD - ETN bottom for quite some time right now which is around 0.005 -> 0.006 USD which I believe is much more valid then BTC per etn price.

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Yes I have the same concerns.

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Mr. Positive here :blush: When the masses start mining, turning the ecosystem and when the gig academy get the unbanked to earn some money, there will be no wale or bot large enough to influence the price? Average company takes three years to find their feet? Lets stay passionate and positive as per our reputation?

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I’m still positive no worries :slight_smile: But since we’re actually LIVE right now, our price is starting to matter more then ever and will DEFINITELY be a valid question for everyone joining in from SA etc.

Since most of our marketing is mouth to mouth price & stability will obviously have a HUGE impact wether people come aboard or not. It’s not like you’re going to hear " Hey mate, i just bought ETN for 20% loss, you should also join! It’s great! " if you understand what i mean.

Ofcourse people in designated areas will feel tempted and most likely to join and mine 3 USD every month but from my point of view, i want people to do more then mining 3 USD a month.

Obviously in the not so distant we will have gig guru up and running which im very excited about because that is a great dealbreaker for many people around the globe. But for it all to work we still need to have some type of growth and stability outside of that aswell IMO.

Heck for all I know, this may aswell just be according to plan, so that the MM payouts will stay high in desired areas for a longer time and giving more of the supply into these areas before next chapter.

Please do not get me wrong, if there is any crypto I have faith in it’s Electroneum.

And also sorry, not flooding this thread anymore as i just wanted to post that one post above as i saw it fitted here. For further discussion we should move some place else :slight_smile:

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Critical hours for BTCUSD…

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Pretty solid cup if you ask me, also alot of strong moving averages under the price both for 4H and for the daily chart i vote for a move :point_up:

tho i don’t know charting what so ever. But looking at the weekly RSI you can see some interesting pattern aswell, last time we went below weekly 70 RSI was 30th of december in 2013! And it stayed well below 70 RSI for some 20~ months.
And ever since the 20k fall we’ve been well below 70 RSI on the weekly chart for around 15 months. IMO the momentum is shifting with some pace right now.

(Obviously the weekly chart isn’t very much designed for a short trader etc, but it’s easy to tell where were heading in the not to distant atleast.)

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Morning all, just catching up on the forum discussions. I couldn’t agree with you more Winky. I have said this many many times and have made my investment into ETN with the understanding it is a long term project. We will not see real gains until demand surpasses emissions (and manipulation). Good news for us is the emissions and manipulation is high with the demand low. Both will go in opposite directions eventually, that I am certain. ETN is a fork of Monero. Monero had the same emissions curve and did not really take off in price until it was 3 years in when the demand finally overtook the emissions after the emissions slowed considerably. I don’t necessarily believe it will take ETN that long with what they are doing, but it is not out of the realm of possibility. Either way, I’m HODLing no matter what…and if I ever get a job, I’ll buy more. Price now really makes no difference unless you have invested more than you can afford to lose and are in financial need. If that’s the case, then you are a little screwed no matter what you invested in.

Now, on to the TA…well, sorta. BTC is holding well and ETN has not gone under the 786 fib line. I’d put charts up, but they look almost exactly the same as the recent charts shared here. On a side note, LTC is leading the way yet again which bodes well for the rest of the market to follow as a whole.

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Looks like we are breaking lower. If this is not a fakeout the next logical target would be at around 9x sats.

The daily RSI is also very oversold. So we should still see a bounce soon which could invalidate the breakout to the downside.

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