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- 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.
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.
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.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
