Basic Attention Token (BAT) Price Analysis: Will The Current Positive Move Be Sustainable For BAT?

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.
  • BAT is currently regaining its positive move with overall price recovery action in the market on Saturday’s market session
  • The BAT/BTC pair is performing positively with an overall gain of 0.72% bringing the current level to 0.00002110 BTC
  • However, the BAT/ETH pair is facing a marginal overall loss of -0.91% bringing the current level to 0.00064074 ETH

Basic Attention Token is currently showing positive signs as it sustained above the crucial mark of $0.20 which the major support level of $0.21. It is having an overall gain of 1.50% with its current price of $0.222523. The market capitalization stands at $327,723,851 with the 24-hour volume traded of $154,296,477. 

Source: Coinmarketcap

The intraday chart of BAT highlights that there is a kind of pump and dump activityy which is noticed. Excluding the sharp positive and negative divergence, the price levels are kind of consolidated. The crypto asset must surge above the price level of $0.25 for indicating that it is on the roadmap of major price recovery to the level of $0.30. During its ongoing price recovery action in the market, the token has got a support level of $0.21 which is followed by the resistance level of $0.25. 

BAT Technical Analysis 

Source: Tradingview

The technical chart highlights the significant downtrend faced by BAT during the past month of September. The downtrend got minor support at 0.618 fib level but the comeback of bears was much stronger which was unable to sustain the price levels and dropped abruptly. The current price levels are currently moving below the MA of $0.223 which is a kind of bearish indicator. 

For a sustainable bullish move, the price levels need to break above the fib level of 0.236. MACD levels are also indicating an upcoming bearish move with the bearish crossover damaging the levels. RSI levels are also showing a low trend with the current level of 40.76 

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