Bittorrent Price Analysis: BTT Token Price Can Attain The Moon In Upcoming Months
- BTT Price is currently seeing a slow paced recovery in the daily technical chart. The price is currently seeing a loss of 12.8% in daily time frame
- Technical Indicators for BTT price hints a consolidation near the current price range. Incontrast, the BTT/BTC pair is in a slump with a loss of 12.3 %.
Why To Invest In BTT Token?
BitTorrent was launched in 2001 and got acquired by tron around July 2018. It is a peer to peer file sharing and torrent platform which has become increasingly decentralized in recent years. After the acquisition from Tron BTT token price has given great returns to its investors
BTT has various unique features which has attracted investors frequently . BTT token price has seen a whooping gain of 2650% from the start of this year. The recent downtrend has erased nearly half the gains. The price of BTT token travels with correlation to Tron price.
Bittorrent is ranked 43rd in the cryptoverse with a market capitalization of $4,181,343,998. The volume of the coin has seen a downfall of 13% in intraday session. Volume to market capitalization ratio for the coin hints a downtrend in price.
Technical Indicators Hints A Slow Paced Recovery For BTT Token Price
Source: Trading view
Bittorrent price showcases a weak bullish momentum in the weekly technical chart. BTT price is taking a halt from the bullish recovery in the daily time frame. The resistance for the price can be oberseved near $0.0055. In contrast support in the price can be seen near value of $0.002 . The price is currently trailing near the 100 Daily moving average on the daily chart. The 100MA (Yellow) line is at $0.0051, making it temporary resistance for the price. The coin has formed an accumulation zone on the daily chart. If the price sees a breakout above 100MA, one can expect a strong bullish momentum.
RSI(Bullish): It is trailing at 41.35, highlighting its presence in the neutral zone. There is a positive slope formation in the RSI, which hints about the upcoming uptrend.
BTT token price is currently seeing a slow paced bullish recovery. BTT/BTC pair is also in a slump with an hint of uptrend. One should do their due diligence before investing.