- Basic attention token trading sideways after creating its new 52-week high of $1.65, now consolidating at the higher levels
- The pair of BTC/BAT up nearly +3.07% trading above all the major moving averages of standing at 0.00002487 BTC
Basic attention token price consolidating at the higher levels and the profit taking pulled it from new 52-week high of $1.65. However, the trend is still bullish and soon a bullish momentum is expected. Meanwhile the volume is the major thing to watch, as the volume is gradually decreasing with respect to uptrend creating divergence with indicators. On other hand BAT is successfully placed above all the moving averages of 20,50,100 and 200-Day, where 20-DMA is acting as a short term support line. Support on the lower hand is placed at $1.15 and $0.98, likewise resistance on the higher side is situated at $1.65 and $2.00.
Over the daily chart, BAT price is showcasing sideways momentum with falling channel patterns. After a bullish move, BAT price indicates some weakness and profit taking. Currently, BAT is trading at $1.54 with an intraday gain of +4.07%; volume on BAT falls nearly -5.32% in the last 24-hour standing at $616,163,242. Meanwhile, total market capitalization shows an increment of +4.77% in the last 24-hour which stands at $616,163,242. However, over the daily chart, a major volume change is not observed. Support on the lower side is situated at $1.40 and $1.30, while resistance on the higher side is $1.65.
Relative Strength Index (NEUTRAL) indicates sideways momentum while trading at 57.02. Though, it is continuously trading flat after falling from the overbought zone.
Moving Average Convergence Divergence (NEUTRAL) currently indicates a bullish trend on the daily chart, as the bulls line (red) and the bear line (white) are overlapping each other, with no sign of clear momentum.
Support levels: $1.15 and $0.98
Resistance levels: $1.65 and $2.00.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.