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- Basic Attention Token price rallying bearish followed by the bear market in the whole cryptocurrency market.
- The crypto asset is trading below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of BAT/BTC is at 0.00001287 BTC with an intraday drop of 4.57%.
Basic Attention token price is trading with a strong downtrend momentum over the daily chart. The token is trading below a downward sloping line and it should thrive to break out through the trendline. However, the bear looks pretty determined with this downtrend momentum in the bear market. BAT coin is facing short-selling pressure from the last few trading sessions. BAT coin must avoid getting caught in the short-sellers clutch. BAT investors might get disturbed by this momentum of BAT and may witness the token’s fall till half of its current value. As support lies at $0.20 if BAT fell from the current level.
Basic Attention token price is presently CMP at $0.37 and has lost 7.01% of its market capitalization in the last 24-hour period. However, trading volume is still up by 5.51% in the intraday trading session. This shows that BAT coin is still having buyers attracted and now BAT investors need to wait for any directional change over the chart. The volume to market cap ratio is 0.1372.
BAT investors are waiting for the token’s recovery over the daily chart. However, the consequences of the bear market can be seen over the token and now the whole cryptocurrency market is experiencing a bloodbath as BTC slips below the $30000 mark. The BAT coin must attract more buyers in order to avoid being caught by the bearish trap. Meanwhile, the change in the gradually falling volume change signifies the token’s fall over the daily chart.
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What do Technical Indicators Suggest about BAT?
BAT coin must attract more buyers to hike above the downward sloping line over the daily chart. BAT investors need to wait for the token to surge towards the trendline and it seems pretty difficult for the token to surge upwards in situations like bear market over the whole cryptocurrency market. Technical Indicators haven’t signalled anything yet for the BAT coin.
Relative Strength Index haven’t signalled anything from the last few trading sessions. RSI is at 33 and investors can expect any directional change below 30.
MACD exhibits that the MACD line is heading toward the signal line for a crossover. However, bears may interrupt the momentum in between.
Conclusion
Basic Attention token price is trading with a strong downtrend momentum over the daily chart. The token is trading below a downward sloping line and it should thrive to break out through the trendline. BAT investors need to wait for the token to surge towards the trendline and it seems pretty difficult for the token to surge upwards in situations like bear market over the whole cryptocurrency market. Technical Indicators haven’t signalled anything yet for the BAT coin.
Technical Levels
Support Level: $0.20
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
