Cryptocurrencies

BTT Price Prediction: 200-day Moving Average Key to Near Term Price Action

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Written By: Eno Ikenna Eteng
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    Summary:
  • The BTT price prediction could get a bullish boost if the recent integration with the Binance Smart Chain (BSC) drives adoption for the token.

The BitTorrent price prediction for a potential push to the upside got a lift this weekend after Tron and BitTorrent announced that the BitTorrent Chain (BTTC) had integrated the Binance Smart chain to the cross-chain solution. 

This integration could open new vistas of opportunity to BTT. The exchange of cross-chain assets for users on the Binance Smart Chain and the BTT ecosystem will get a significant boost, as it enables the seamless exchange of assets listed on both platforms. According to Samy Karim, Lead Coordinator of the BSC ecosystem, the integration allows millions of BTT and Tron users access to the NFT, GameFi and Infra projects being built on the BSC. At the same time, Binance users can interact with the BTTC’s dApps. 

The BTT price is up for the 2nd day in a row, trading 1.49% higher.

BTT Price Prediction

The price candle has bounced off the 200-day moving average. This bounce could take the price action towards the 0.004159 resistance. 0.004410 and 0.004563 (31 October high) are additional resistance barriers to the north that stand between the bulls and the 0.005024 resistance level (14 August and 5 September highs). 

On the flip side, a decline below the 200-day moving average targets 0.003819, with 0.003537 and 0.003396 serving as additional barriers to the south. These support pivots stand between the bears and new targets at the 26 September/27 October lows at 0.003041. 

BTT/USDT: Daily Chart

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This post was last modified on Nov 08, 2021, 17:04 GMT 17:04

Written By: Eno Ikenna Eteng

Eno's work as a technical analyst and author since 2009 is well recognized in the industry and on several freelance platforms. He is also a member of the prestigious UK Society of Technical Analysts and a top-ranked participant in the Basic Investment Banking and Asset Management simulations with Amplify Trading.

Published by
Written By: Eno Ikenna Eteng