Crypto exchange MEXC announced that the Ethernity token ERN was listed in the Assessment Zone today at 05:00 UTC. Deposits are open, and the ERN/USDT trading pair is available. However, withdrawals will open on August 10 at 05:00 UTC.
🚨#MEXC New Listing Alert!
📈 $ERN/USDT will be listed in the Assessment Zone on 2024-08-09 05:00 (UTC).@EthernityChain, an entertainment-oriented Layer 2 (L2) solution, is pioneering the development of the Superchain in collaboration with Optimism.
Details:… pic.twitter.com/I32U3mKlKB
— MEXC (@MEXC_Official) August 9, 2024
The exchange noted that prices for projects listed in the Assessment Zone can fluctuate greatly. It advises traders to exercise caution.
ERN initially gained traction after being listed, leading to a nearly 7% increase in value. However, as of the latest update, it has started to decline. Its current trading price is $2.01, marking a 4.8% decrease in the last 24 hours according to CoinGecko.
The platform also notes that ERN reached an all-time high of $73.86 on March 27, 2021, making its current price 97.28% lower than the ATH. Additionally, ERN has experienced an 11.2% decrease in the last two weeks.
Ethernity price prediction
Most technical indicators point to a “sell” at press time. The asset has formed a death cross with the 50-day EMA at 2.776701 and the 200-day EMA at 3.455376. The death cross signals that the asset’s price will likely experience a continued downtrend. It is often a warning that the market sentiment is turning negative.
The volume-weighted moving average (VWMA 20) is 1.998, slightly below the current price. The VWMA means that the average price over the last 20 periods, weighted by the volume traded in each period, is approximately 1.998.
When the price is above the VWMA, it might indicate that the asset is in an uptrend, as it is above the average level where most trading occurs. If it is below the VWMA, it might indicate a downtrend. The VWMA should be used with other indicators for more reliable signals.
The RSI 14 is at 38.93. If it drops below 30, the asset will be oversold, and buying could ensue.
About Ethernity Chain (ERN)
Ethernity Chain is an L2 blockchain developing the Superchain in collaboration with Optimism. It focuses on entertainment and aims to create a vibrant ecosystem of top-quality apps. Users and developers will be rewarded for their contributions to this ecosystem.
ERN launched on Polkastarter on March 8, 2021. Before the launch, Ethernity received strategic investments from Morningstar Ventures, Genesis Block Ventures, Black Edge Capital, and other leading enterprises. The platform funds charities while promoting celebrities’ artworks or tokens. The total ERN supply is 30,000,000.
