- BitTorrent price now getting ready for another positive rally, as the price now trying to sustain above SMA of 20-Day
- The coin witness pressure from higher levels as the price slipped after creating a new ATH of $0.01426 and got corrected almost-50% from top
- The pair of BTT/BTC is trading red with an intraday loss of -4.53%, which stands at 0.0000001231 BTC
BitTorrent’s price over the monthly chart looks stable after a sharp selloff of almost -51% from the ATH of $0.01426. However, a base building is complied, supported by the trend line of the 50-Day moving average. Likewise, now we can see further bullish momentum if BTT sustains above moving averages of 20-Day. While the volume does not support bulls and bullish rallies, bulls must wait for good volume traction. Since the coin maintains itself above all moving averages of 50,100 and 200-Day, it projects the overall bullish scenario for upcoming trading sessions. As soon as the daily candle closes above 20-SAM with good volume, BTT can reach targets of $0.0080 to $0.0092. Whereas support on the lower side is at $0.0060 and $0.0050, similar levels of $0.0082 and $0.01080 can be resistances.
BTT at Lower Time Frame Trading Flat
Over the weekly chart, BitTorrent price is trading sideways, whereas the buyers accumulate every dip. However, the chart suggests the continuation of consolidation for the short term, and for bullish momentum, it must close above 20-DMA with good volume. Presently, the coin is trading at $0.00715 with minor intraday gains of +0.96%, while volume also witnessed a slight dip of -2.34%, standing at $1,792,020,452. Moreover, the total market capitalization remains at the 38th position with a minor increment of 0.86% at $4,722,407,612.
Relative Strength Index (NEUTRAL) indicates flat momentum while trading flat at 57.62. However, BTT can observe a sharp rally in the upcoming trading session if it clears resistance.
Moving Average Convergence Divergence (NEUTRAL) currently indicates a bullish trend on the daily chart. BTT is trading with the significance of the buyer’s signal line (green) over the seller’s line (red). However, the MACD gives a mixed-signal indicating caution for both bulls and bears.
Support levels: $0.0060 and $0.0050
Resistance levels: $0.0082 and $0.01080
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