BTT Up 4.96% in the Last 24 hours - Technical Analysis

Ankita  |  Mar 24, 2021

BTT is a TRC-10 utility token based on the blockchain that powers features of the most popular decentralized protocols and applications in the world. DApps powered by BTT includes BitTorrent Speed, BitTorrent File System, DLive, and others in the pipeline. The BitTorrent price is $0.0033 USD with a 24-hour trading volume of $1,065,531,925 USD. BitTorrent is up 4.96% in the last 24 hours.

BTT Price Analysis

Past Performance

During the last 24 hours, the price of BTT has moved up by 6.7%. The currency has been moving upwards for the last two to three days.BTT continued the trade at $0.0002, the price it has ended the year 2020. Later the price started to grow steadily. The altcoin hit ATH at $0.003975 on March 20th. BitTorrent is anticipated to get decent assistance from several classifications of institutions. As this is the altcoin season, BTT might rise, and it may trade between $0.005 and $0.008 for the whole year. By the end of 2021, Bittorrent might exchange at $0.01.

Days-Ahead and Tomorrow

The trading volume data allows assessing the overall strength of the trend, which, in turn, provides means for a more precise BTT price forecast, and predicts the shifts in supply and demand that play a decisive role in price changes in both the immediate and distant future. According to BitTorrent trading volume for the past 24 hours is $1 029 436 409 that constitutes an increase from the previous day. The current tendencies with regard to changes in the average trading volume reveal the increasing demand for BTT coins on the backdrop of the decreasing supply of the corresponding cryptocurrency.

The MACD and signal lines are in the negative territory. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bullish, and we can expect a further increase in price. The trend line has crossed over and gone above the signal thus giving a high direction.

Currently, the RSI indicator is at 63%. It has moved away from an overbought region. This is showing the strength of price movement has strengthened.

The A/D indicator has been low at 1.8 in line which has gone up with an increase in the price band. The price is also moving upwards with the increase in the indicator.

BTT Price Analysis

Adjust the trading strategy accordingly, make calculated investment and trading decisions in the future. BitTorrent is a non-mineable coin that is presently priced at $0.003239 and has a market capitalization of $3 206 147 948. The currently available supply of BitTorrent is 989 980 422 741 coins. It is important to grasp the projected changes in supply to properly calculate future market capitalization, hence the future price of the cryptocurrency under review.

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