BitTorrent Price Continues Tumbling! Will BTT Price Reclaim $0.0000015 This Week?

The post BitTorrent Price Continues Tumbling! Will BTT Price Reclaim $0.0000015 This Week? appeared first on Coinpedia Fintech News

The cryptocurrency market continues to display significant price volatility in its chart as top coins display constant pump and dump in their respective portfolios. Moreover, the BTT price has recorded a loss of over 6% within the past day.

The BitTorrent price traded in a narrow space between $0.0000004428 and $0.0000005139 for almost a month, following which the market gained momentum and the price surged. The BTT coin price jumped over 127% within a single day, after which the price faced rejection at $0.000001170.

TradingView: BTT/USDT

Following this, the price recorded a correction of 37%, resulting in the price testing its support level of $0.000007467. The bulls held the price strong above the support level and recorded a bounce-back of 42%.

After bouncing between $0.0000007467 and $0.0000010603 for a while, the price regained momentum and jumped over 56% in value, after which the BTT price faced rejection at $0.0000016616.

Since then, the price has been constantly losing momentum, indicating a cool-off in the buying pressure for this token.

The technical indicator, RSI, displays a bearish curve over the mid-point, indicating a rising bearish influence in the market. Moreover, the averages show a high possibility of a bearish convergence, suggesting the price will undergo correction soon.

Will The BitTorrent (BTT) Price Regain Value?

If the bulls gain power and push the price above the key resistance level of $0.000001234, the BTT price will regain momentum and prepare to test its upper resistance level of $0.000001477 this week.

Maintaining the price at that level will set the stage for BitTorrent price to attempt to test its resistance level of $0.000001661 in the coming days.

Conversely, if the bears overpower the bulls, the price will lose momentum and fall to test its support level of $0.000001060. Moreover, if a trend reversal occurs, it will plunge further and prepare to test its lower support level of $0.000000888 this month.