Bytom Price Analysis: Will BTM Price See The Highs Of $0.5?

BTM bulls are looking for a new high
  • Bytom price has seen a gain of 13.1% in the 24-hour time frame. Meanwhile, the BTM/BTC pair sees a positive momentum with an increase of 13.68%.
  • BTM has a triple-layer approach’s unique concept while tokenizing the real-world asset. In contrast, it has seen a gain of more than 125% from the start of the year.

 Bytom is currently ranked 181, with a market capitalization of $269,687,503.The volume ($123,180,728) of the coin has an increase of 23.37% in the 24-hour time frame. The volume to Market capitalization ratio for the coin is 0.45. If the ratio goes above 0.8, then a buying rush can be seen. BTM price forecasts a good growth.

Why to Invest in Bytom Coin?

Bytom is a blockchain-based open-source value-exchange protocol. It is used to tokenize the real world liken securities or bonds. Using the Bytom protocol, individuals and enterprises alike can register and exchange digital assets and traditional assets. Bytom uses a triple-layer approach to blockchain distributed protocols. Data transactions occur on the first layer, transmission on another, and asset interaction on the third. It is a unique concept as Bitcoin is a single layer, ETH is a two-layer protocol with smart contracts.BTM has a three-layer concept that has not been seen in other ALTCOINS. 

Technical Indicators Projects A Bullish Momentum For BTM Price

Source:Trading view
- Advertisement -

The weekly technical chart for BTM showcases a bullish momentum. Bytom price is showing signs of bullish momentum on coming to the daily chart. BTM price is trading above 50 and 100 Moving Average. The 50MA price is at $0.1087, making it temporary support for the coin. The coin’s resistance on the upside will be at $0.205, and on the downside, it will see a bounce back from $0.17. Bytom price is currently following the trend line and can go upside. The price of BTM has formed a bullish engulfing pattern on the daily chart. Bytom price can see a rise up to $0.5 in upcoming months.

RSI(Bearish): It is currently trailing at 76.42, showcasing its presence in the overbought zone. There is negative slope formation in RSI, which suggests bearish momentum. The overall sentiment of the RSI is bearish.

Conclusion

BTM price projects an uptrend for upcoming months. BTM’s unique concept of tokenizing real-world assets has increased the interest of investors. The BTM/BTC pair can also see a bullish move. An Investor should do their due diligence before investing.

Technical Levels

Major Support:$0.17

Major Resistance:$0.205

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

Download our App for getting faster updates at your fingertips.

Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange