Basic Attention Token, BAT Price Analysis: Bulls Charging In A Channel

  • BAT prices have seen some downside which pushed the coin towards the support
  • BAT prices are moving in upward channel 
BAT
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BAT coin’s prices are moving in an upward channel from the past few days. The prices have reached the support again and this support can push the prices further and give a breakout from $0.3274(Resistance). The market cap and 24 hour volume are $$471,089,009 and $41,557,101 respectively. 

BAT Prices May Zoom By 22%, Depends on Support

Dogecoin
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BAT prices are approaching support and are having a possibility of zooming 20% from the current levels. The prices are currently above 10 EMA($0.3), 20EMA($0.28) and 50EMA($0.255), all these are providing support for price. 

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The Bollinger Bands are moving upwards in unison suggesting ullish movement. The upper band is acting as resistance at $0.344 and median and lower bands are providing support at $0.3 and $247respectively. 

RSI has reached 61.11 levels and may not face resistance anywhere but at 85 levels. 

The MACD(8,21,5) is in the positive territory with signal line intersecting the slow line. Such action in the indicator causes the coin to consolidate or move down(after crossover). We can also expect the signal line to take support from slow and rebound the coin towards new highs. 

The ADX is at 32 levels, this suggests the trend to be strong enough to persist. The DI+ and DI – are at 23 and 16; indication of domination of bulls over bears. 

Conclusion:

BAT coin is currently moving in an upward channel and retesting ts support. A move along the support can create an ascending triangle which can push the coin towards $0.34($618 Fibonacci levels) or $0.38(0.786 Fibonacci levels) 

Support: $0.296(10 EMA and 0.5 Fibonacci levels) and $0.278(20EMA and 0.382 Fibonacci levels) 

Resistance: $0.336(0.612 Fibonacci levels) 0.36195(Recent High) 

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Kartik Dhankanihttp://thecoinrepublic.com
Kartik Dhankani is a BAF Student based out of India and a stock market trader and Financial Analyst. He seeks to diversify his reach to different investment alternatives and analyse them using his knowledge for fundamental and technical analysis

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