ETN Technical Analysis Society


#1575

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.


#1576

Yes I have the same concerns.


#1577

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?


#1578

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:


#1579


Critical hours for BTCUSD…


#1580

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.)


#1581

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.


#1582

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.


#1583

What does 9x sats mean? It seems these drops are happening with fairly low volume. Does this indicate a fake-down?


#1584

Yeah it does. A real breakout always needs volume. So we really have to wait for the next candle on the weekly. If it closes over or below .786 level.


#1585

What does 9x sats mean?


#1586

Between 90 and 99 sats.


#1587

I am afraid to have a look at blockfolio now :smiley:


#1590

100%. I wish I had money. This is such a BEAUTIFUL time to ladder in even more. I see all the negative sentiment and only see dollar signs. My honest 100% thought on the matter is we are being manipulated so some big players can load up for next to nothing. Gorman being on the GSMA board is no small feat and they would not put him there for no reason. We are talking some of the biggest players in the world that ETN has exposure to and they are fully aware now. This is a business first and foremost and business does what it does to make money. Let’s all not forget that. Ignore the negativity and make your own decisions based on your own research. We will win in the end…it’s just a matter of when.


#1591

thanks for that, well said:))


#1592

Or maybe it’s being manipulated lower to give more cloud mined ETN to the people in SA (now they get 1500 ETN per month to equal the $3) who will in turn give more ETN to The Unlimited via bought data/air time. Then after the 3 month trial the manipulation stops and the price shoots up giving more ROI to the Unlimited (and other Vendors in SA). This will create more buzz around ETN after the 3 month trial because of the high ROI. This will drive higher adoption rates by other MVNOs and MNOs because of the high ROI in a low margin industry.

:slight_smile:


#1593

This is exactly what I mean by “business will do what business does”. I fully anticipate something like that, which is why the next three months could be very very long for people worried about the price.


#1594

In 2019 do these dips surprise anyone anymore? Lol. This is childs play if you were here through 2018. :grin:


#1595

100% agree.

I actually doing a deeper dive into ETN TA right now. RSI just hit an all time low on the Daily on Kucoin. It is at 1.94. Anything under 30 is over sold. We are literally severely oversold. This is pure manipulation with some panic probably mixed into it. I’m tracking a descending wedge that has now confirmed after our drop to the 140 sat range region. We have to see a bounce…because none of this makes any sense whatsoever from a standard TA perspective.


#1596

Just so you guys have a visual of the mess of a chart I’m working with, here you go. Lines are open for interpretation…but the thick lines are what I think are the most prevalent. The lowest descending support line is also very possible and the current sat value on it is 122, which I have mentioned before as being a possible target.

RSI is down to 1.7. From a trading perspective, selling now makes absolute zero sense unless you have lost all faith in the project and think it is going to zero (not financial advice)