thecoinrepublic.com
- 1 The BitTorrent price increased by 3.26% over the last week but is trading below major EMAs.
- 2 The price of the BTT coin is trading at $0.000000003828 and the 52-week trading range is around $0.0000003628 – $0.0000010300.
The BitTorrent network, a broadely used peer-to-peer file-sharing platform, is powered by BTT coin, it is a cryptocurrency that runs on the TRON blockchain. BTT coin can be used for various purposes on the BitTorrent network, such as paying fees, staking, and governance. It can also be used to access different decentralized applications and services.
If all the 990 trillion BTT tokens that exist today were in the market, the total value of BitTorrent (BTT) would be $371.7 Million. This is a hypothetical scenario that shows the maximum potential market cap of BitTorrent (BTT). The actual market cap may be lower, depending on how long it takes for all the BTT tokens to be released into circulation.
BTT crypto surged by 1.33% in market value and by 49.34% in trading volume in the last 24 hours, as per Coinmarketcap, which is a crypto data and info website. Its market value is $358.66 Million and its trading volume is $14.22 Million. There are 951.42 Trillion BTT in circulation.
BTT Coin Price Technical Analysis in the 1-Day Timeframe
BTT coin is a disappointing crypto this month, as it has sunk by 5.00% in its value, and in the past six months, BTT has also nosedived by 44.93%, showing a sharp and relentless fall. Moreover, the year-to-date return of BTT price is gloomy, as it tumbled by 38.71% since the start of the year. This shows that BTT has lost more than a third of its price in less than 10 months, lagging behind many other crypto.
According to the technical analysis, BTT price is facing downward pressure and may drop to new support levels at $0.0000003500 and $0.0000003000, unless it sustains the current level.
On the other hand, BTT price has a chance to rise only if it manages to break the previous resistance levels of $0.0000007800 and $0.0000010600 and also if it can be stable and surpass the previous high.
At the time of publishing, BitTorrent (BTT) is trading below the 20 and 50-day EMAs (exponential moving averages).
The MACD line at 0.0000000043 and the signal line at 0.0000000053 is above the zero line both lines cross each other showing a bullish crossover is observed in the MACD oscillator, where the MACD line is about to converge as the histogram starts to get leaner in time.
The current value of the RSI is 48.78 points and the 14-day SMA is below the median line at 38.63 points but the curve has turned its direction and headed to cut 14 SMA from above; indicating bearish symptoms in crypto price.
Conclusion
BTT price action highlights a bearish view at the time of publishing as the uptrend has been violated in the last few days. The technical parameters of the BTT price show bearish traits, suggesting the continuation of the bearishness over the daily time frame chart. Moreover, the BTT price highlights bearish sentiments and perspectives of investors and traders regarding the BTT price in the daily time frame.
Technical Levels
- Support levels: $0.0000003500 and $0.0000003000
- Resistance levels: $0.0000007800 and $0.0000010600
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.