BitTorrent Price Analysis: BTT Token Plunges by 40% in a Month

  • BTT token price is in a downward trading session during the intraday trading session
  • The 24-hour volume in BTT is at $135 Million
  • The BTT/BTC pair was trading at 0.00000007 BTC with a loss of 3.3%
Source: BTT/USDT on TradingView

The daily technical chart of the BTT price forecasts a downtrend. According to Pivot points (FIB), the critical support level for BTT is $0.0019920. However, if it makes a move above, the fundamental resistance level is $0.0030261. Meanwhile, the chart shows a bearish engulfing candle, which indicates a bullish trend reversal with high reliability.

The exponential moving average (EMA) composed of 50,100,200-EMA can be a reliable support for currency price changes. However, investors can observe the price plunged below the EMA-200, ensuring a downtrend until the price stays below the EMA-200. A death cross can be marked on the chart.

Volume of (2.392B) is beneath the MA of 20-days (6.108B). Selling pressure is low in BTT, making its price remain in negative zones. Investors may also observe diminishing volume bars in the chart, which indicates a big move is expected in upcoming trading sessions.

The CCI indicator gave a (bearish) signal with -178, projecting a sell signal in the coin. Investors may observe a declining slope from -15 to -178. It may plunge in future trading sessions.

BTT Token Shows no Signs of Positivity

BTT token price traded at $0.002184 with a loss of 5.5% in the last 24-hour. Furthermore, BTT price is in a continuous downtrend and will be moving towards the support regions. In contrast, market capitalization stands at $1.440 billion. Technically, investors can perceive a negative crossover in the EMA, and the price is below the 200-EMA. As a result, the CCI index showcases a downward slope. Moreover, the price movement can be towards the support of $0.0019920 in future trading sessions.

Resistance: $0.0030261

Support: $0.0019920

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