- BTT coin is currently trading at $0.00000037
- BTT (BTT) has given a return of around 50% in the previous year.
- The BTT coin has a 24 hour trading volume of $10.3 Million.
BTT, or BitTorrent Token, is a cryptocurrency associated with the BitTorrent ecosystem. BitTorrent is a popular peer-to-peer file sharing protocol that allows users to distribute data across the internet efficiently.
The price movement of the BTT (BTT) cryptocurrency is presently following a downward trajectory, characterized by the establishment of consecutive lower lows. At present, the price is descending following a period of consolidation.
Financial Data of BTT (BTT)
The current trading price of BTT is $0.00000037 in today’s session. The coin boasts an average trading volume of $4.2 billion and a 24-hour trading volume of $10.3 million, along with a total circulating supply of 951 trillion coins.
BTT has delivered a return of over 50% in the past year, but it’s down by -40% in the last six months. This negative return indicates underperformance by the coin. This trend may dissuade potential buyers from entering new positions, potentially leading to a further decline in the coin’s value.
In January 2023, BTT reached a peak of $0.00027, after which it began a significant decline, amounting to over 95% to date. The overall price action is currently confined within a descending triangle pattern, which is considered to be a weak pattern. The price is currently pausing after a decline, and the overall market sentiment is negative, suggesting the likelihood of further decreases.
A technical analysis of indicators suggests a ‘sell’ signal for BTT. Out of 26 indicators, 13 signal a ‘sell’, while only 3 suggest a ‘buy.’ The moving averages summary also indicates a ‘strong sell’ signal for the coin, implying that sellers are exerting dominance, and a price decline is probable.
BTT (BTT) Technical Analysis
BTT by writer50_tcr on TradingView.com
Currently, the RSI sits below the 50 level, and the RSI line is under the signal line. This alignment suggests that the price is within bearish territory, hinting at the possibility of a further decline.
Additionally, the MACD is presently positioned under the signal line, indicating the presence of bearish pressure on the price. This bearish pressure has the potential to drive the price downward.
Conclusion
In conclusion, the BTT (BTT) coin price is moving in a downtrend. The price has given a negative return in the previous year along and has formed a fresh all-time low. Additionally, the indicators are negative for the stock. Hence, the price is likely to fall in the upcoming days.
Technical Levels·
- Support Level: $0.00000034
- Resistance Level: $0.00000040
Disclaimer
The views and opinions of the author or anyone named in this article are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
