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?
BitTorrent Price Prediction
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.
BitTorrent Daily Chart
Follow Eno on Twitter.