- On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $0.001800 overhead resistance.
- The bulls recovered and made an upward move and reached a high of $0.001650.
BTT/USD Medium-term Trend: Ranging
- Resistance Levels: $0.001400, $0.001600 ¸$0.00180
- Support levels: $0.001200, $0.001000, $0.0008000
Yesterday, June 12, the price of BTT was in a bearish trend. The BTT market reached the $0.001800 overhead resistance level on May 28. The following day the bulls were resisted and BTT market was on a downward correction to the support of the 12-day EMA. The bulls recovered and made an upward move and reached a high of $0.001650. On June 2, the bulls were resisted again; the coin resumed another downward correction which was corrected on June 9. On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $0.001800 overhead resistance.
From the Fibonacci tool, the crypto’s price has 0.236 and 0.382 Fib. retracement levels which are continuation zone for the trend. The coin price has entered the downtrend zones of 0.50 and 0.618 Fib. retracement level. In other words, the current trend has been reversed. Meanwhile, the price of Zcoin is in the oversold region of the daily stochastic but below the 40% range. This indicates that price is in the bearish momentum and a sell signal.
BTT/USD Short-term Trend: Bearish
On the 1-hour chart, the BTT price was in a bullish trend. The 12-day EMA and the 26-day EMA are sloping northward. The crypto’s price is falling and at same testing the 12-day EMA to break above the EMAs. The crypto’s price is trending above 12-day EMA in a bullish uptrend. Meanwhile, the price of BTT is in the oversold region of the daily stochastic but above the 20% range. This indicates that price is in the bullish momentum and a buy signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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