BAT Bounces from the Support Breaking the Falling Channel Pattern

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Basic Attention Token
Basic Attention Token

Basic Attention Token (BAT) gave a positive breakout from the falling channel pattern over the monthly chart after taking the support from fib 0236 ($0.1748)

 The pair of BAT/BTC and BAT/ETH trading at 0.00001231 BTC (+4.09%) & 0.00038999 ETH(2.58%) respectively 

Screenshot from 2020 11 23 16 09 14
Source:tradingview

The monthly chart of Basic Attention Token (BAT) was in rising channel pattern after making the low of $0.0888 and continuously is in the uptrend making the higher highs and lower lows, however, after testing the resistance of $0.4387 the profit-booking pulls the price level down and makes the falling channel pattern. In the month of November, a positive breakout is observed from the falling channel pattern after testing the support of $0.1748. The volume recorded in the last 24-hours is $212,093,205  and while the total market capitalization is at $341,240,338. 

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Source:tradingview

On the daily chart, the coin was in an uptrend as making the higher highs and lower lows and the candles of one hour is closing above the 20 EMA acting as the support for it. While the resistance is at $0.2340 as the day’s high while it is trading at the price level of $0.2326 with the intraday gain of +8.02%, on the lower side the support is placed at $0.2071 (yesterday’s low).

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Source:tradingview

Directional Movement Index (DMI) gave a positive crossover suppressing the -DI by the +DI indicating the positive momentum in the coming trading sessions. 

The Relative Strength Index (RSI) is trading at the level of 67.31 heading towards the overbought zone and it indicating the positive momentum for BAT

Exponential Moving Averages (EMA) BAT has the exponential moving average at the level of $0.2288 will act as the support on the downside.

Support levels: $0.2071

Resistance levels: $0.2340

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