200-day Moving Average Key to Near Term Price Action
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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