Basic Attention Token (BAT) Price Analysis: BAT Looking Strong For Bullish Rally Again

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.
  • After facing major price corrections and reaching the support level of 0.20, BAT has shown signs of bullish momentum in today’s market. 
  • Currently, it is having an overall gain of 3.60%.
  • BAT crypto price is currently moving between the price band $0.20 to $0.25. 

Source: Coin360

The 7-day weekly chart shows the price corrections faced by the altcoin which brought the price level from $0.24 to the major support level of $0.20. the crypto asset has now shown positive movements for avoiding any further downfall below the major support level.

An upward movement from the major support level indicates that BAT still has the potential to build a sustainable bullish momentum in upcoming days. The altcoin started the year with the price level of $0.18 and went to year-high of $0.30 before facing major downtrend in the cryptomarket

The potential upcoming bullish momentum is also supported by regular inputs provided by the BAT community. On 27 FEB, the BAT community announced that their official browser BRAVE would be having a new update of one-click Wayback machine support. That made the browser to be the first web browser to offer the one-click easy access to an amazing archived version of the internet web pages. This also helped the cryptoasset to rise in its wallet count by 189. The number of tokens sent and received transaction also saw a hike in numbers by 23,346.

Overall, the main aim of the whole project is to address fraud and opaqueness in digital advertising. The project also aims to correctly price user attention for digital advertising within the platform in which advertisers pay BAT to website publishers for the attention of users.

Source: Tradingview

Basic Attention Token Price Analysis

The technical chart represents the bullish momentum build by the altcoin from the starting of the year which is followed by the downtrend. However, BAT has started to signs of positive momentum which can be seen at the tip of the downtrend line.

The technical indicators and oscillators also favor bullish momentum. MACD levels are finally reaching the bullish zone after remaining in the bearish zone for a long duration. However, RSI dropped to the level of 60 but strongly favors BAT bulls. CCI also had negative divergence from the overbought region which indicates that the altcoin can have a sustainable and long-term bullish momentum in the cryptomarket

Resistance level: $0.25 and $0.30

Support level: $0.20 and $0.18

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