Basic Attention Price Token (BAT) Price Analysis: An Utility Token For Brave Browser Providing 11.86% gains

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • Basic attention price token (BAT), which is currently ranked as 30th in the world’s largest cryptocurrencies list is providing a handful of gains this year.
  • It debuted the year at $0.181186 and broke the resistance level of $0.20.

Basic attention token (BAT) is a utility token on the blockchain network of the brave browser. The main purpose of this token is that it can be used to pay the website expenses incurred by brave functions, such as advertisement filtering and data protection. 

Source: Tradingview

BAT is currently ranked 30th on the list of world’s largest cryptocurrencies with the market capitalization of $407,928,492 and the 24H volume traded is over $130,941,446. The current price is around $0.285295 with a gain of 9.27% in today’s market. 

BAT starting the year with the price of $0.181816 after facing bearish momentum in the month of December 2019. It also struggled between the $0.18 and $0.19 volume until January 14th where it finally broke the major resistance of $0.20.

After that, it has managed to keep itself above $0.20 level and currently is around $0.28 with the market capitalization of $403,443,838. The 24H volume traded is over $31,437,787. 

Fundamentally, the project is having an advantage from the growth of strong publishing and that too from famous digital platforms like youtube, Reddit, Vimeo, and other websites. Growth of other aspects like browser downloads and on-chain transactions remains a little cold. 

Source: Tradingview

The technical charts suggest that BAT will continue to show signs of bullish movement. The RSI level is around 65. The CCI remains in the overbought area which indicates that it can face price correction after making sharp positive rallies.

MACD levels indicate that there is a strong buying phase for BAT which is followed by a bullish cross. The next major resistance will be around $0.30. However, the sharp bullish momentum may result in a price pullback in which the support level will be around $0.25.

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