Bullish BitTorrent price prediction bets may be in the works after the blockchain project announced it would collaborate with the TRON project to develop a new project. Known as BitTorrent Chain (BTT), the product aims to be the first cross-chain interoperability protocol to act as a scaling solution for DeFI projects, NFTs and other Layer 2 networks. The project is due for release in October, according to a tweet by BitTorrent.
The BitTorrent price has been in a correction since its May 2021 highs. For those wishing to tap into this information, what is the BitTorrent price prediction at this time?
Price is now trading in a range following the bounce of the 78.6% Fibonacci retracement level at 0.003125. The recent resistance at 0.004546 needs to be uncapped to advance towards the 0.005360 price mark (61.8% Fibonacci retracement level). A further advance targets 0.006, with 0.006930 (50% Fibonacci retracement) also serving as a potential barrier to the north.
On the flip side, a decline below 0.003125 opens the door to downside targets 0.001969 (21 June and 20 July lows), with 0.001123 and 0.000277 serving as additional targets to the south.
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