Basic Attention Token Price Projection: Will BAT Price Go Above The Resistance of $1.3?

BAT bulls are looking to halt for now
  • BAT price is in the accumulation zone on the daily chart. Meanwhile, the BAT/BTC pair is seeing a positive momentum with a gain of 4.9%.
  • BAT token is seeing a decrease in the large transactions. Meanwhile, the technical indicators do not show any bullish move signs.

BAT came into limelight due to its unique concept that powers a new block chain-based digital advertising platform designed to fairly reward users for their attention, while providing advertisers with a better return on their ad spend. BAT price projection shows a gain up to $3 in upcoming months. BAT is loosely correlated with BTC and expects to grow further up to $3 by the end of next year.

Basic Attention Token is currently ranked 62nd, with a market capitalization of $$1,849,934,558.The volume ($$569,327,305) of the coin has seen an increase of 64.04% in the 24-hour time frame. The volume to Market capitalization ratio for the coin is 0.3096. If the ratio goes above 0.8, then a buying rush can be seen.

Whales Are Still In A Hibernation For BAT Price

Source:Into the block
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The above graph shows the transactions greater than 100K on the BAT platform.The graph tells about the overall sentiment of the big whales towards the coin.There is no significant change in the large transactions from last month.There is a possibility of the trend reversal also in the coin.

BAT token has seen an increase of positive sentiment in the social media.This can be a sign for the price jump to higher levels 

Technical Indicators Projects A Consolidated Momentum For BAT Price

Source:Trading view

The weekly technical chart for BAT showcases a bullish momentum. On coming to the daily chart,BAT price is showing signs of a consolidated move. BAT price is trading above 50 and 100 Moving Average. The 50MA price is at $0.817, making it temporary support for the coin. The coin’s resistance on the upside will be at $1.3, and on the downside, it will see a bounce back from $1. BAT has formed an accumulation zone in the 4-hour time frame. If the price breaks 10% below the area, then a robust bearish momentum can be seen. BAT price can see a downtrend below $1 in the upcoming days.

RSI(Bearish): It is currently trailing at 58.9, showcasing its presence in the neutral zone. There is negative slope formation in RSI, which suggests a bearish momentum. If it crosses above the threshold of 60, then a strong bullish momentum can be seen.

Conclusion

BAT price projects a downtrend for a short period. BAT price can reach up to $3 until the end of this bull season. The BAT/BTC pair can also see a bullish move. An Investor should do their due diligence before investing.

Technical Levels

Major Support:$1

Major Resistance:$1.3

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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