The BitTorrent price prediction remains uncertain as the price trades within a bearish pattern, despite the upcoming merger between TRON and BitTorrent.
The new BitTorrent Speed network has started to onboard TRON addresses with more than 283,000,000 wallet accounts and 3,000,000 TRON addresses migrated. However, this has not translated into greater demand for the token, and price action suffers from low volumes.
The price picture on the 4-hour chart shows that a descending triangle is evolving. With this pattern in the way, what would be the BTT price prediction in the near term?
BTT Price Prediction
The BTT 4-hour chart shows a descending triangle in evolution, with the lower border currently being challenged at the 0.003537 price support. A breakdown of this border completes the pattern and opens the door to downside targets at 0.003396 initially before 0.003126 comes into the mix as the measured move’s completion point. A further decline will allow the bears to set the 0.002981 support in their sights.
On the other hand, a bounce on the 0.003537 support, which attains 0.003819, will invalidate the triangle. Additional upside targets at 0.004159 and 0.004410 will come into the picture as additional upside targets.