Electroneum CEO Shares Optimistic Cryptocurrency Views at BAC2021

29 March 2021 | Updated: 29 March 2021

The CEO of Electroneum (ETN) and AnyTask.com, Richard Ells, gave a striking speech on the transformative power of cryptocurrencies at the recently-concluded BAC2021 titled “Empowering a Generation with Crypto,” which is what Electroneum and AnyTask.com are focused on.

Ells noted that only a very few blockchain startups have achieved a similar impact in the crypto industry as his projects (Electroneum and AnyTask.com) have. He noted that these projects have greatly assisted freelancers across the globe earn cryptocurrency seamlessly and have unlocked the global digital economy for the world’s unbanked population, which is reported to be at 1.7 billion as of April 2018 by the World Bank.

Furthermore, Ells noted that crypto assets, like Electroneum, have armed this generation with global peer-to-peer (P2P) transactions at very cheap rates. He also highlighted how cryptocurrency and the internet are very similar, considering that they have made the world better with instant global connectivity.

Meanwhile, Electroneum is reportedly developing a cryptocurrency ecosystem. Already, the project caters to over 4.2 million users across 163 countries. Users can pay for data, airtime, and foot electricity bills in nine countries in Africa, including Nigeria.

Electroneum users can access 2,147 merchants globally on the platform, and new merchants get added to the Electroneum directory weekly as demand increases.

More functionalities are getting integrated into the Electroneum app and will be made available to the public in the coming months, according to Ells.

ETN Price Analysis — March 29
The ETN is currently in the middle of a mild correction from the $0.0409 year-to-date high. That said, the cryptocurrency appears to have completed the correction cycle and is back on its bullish journey higher. Electroneum came across adequate support on the prevailing trendline, where it facilitated a healthy rebound. A slip below this trendline could slowdown the bullish recovery but not for long, as the path-of-least-resistance is upwards.

ETNUSD – 4-Hour Chart

ETN has been on a sideways journey since November 2018, following its 98% crash to the $0.0044 low. That said, the bullish recovery—which began in late February—will likely persist in the coming days and weeks.

ETNUSD – Weekly Chart

Meanwhile, our resistance levels are at $0.0367, $0409, and $0500, and our key support levels are at $0.0300, $0.0230, and $0.0200.

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.