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Basic Attention Token Price Analysis: BAT bulls Sustain and Registered the Breakout, Know from Where?

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Basic Attention Token Price Analysis
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  • Basic Attention Token price manages to get support from the $0.35, that is the lower level of the consolidation phase. 
  • The crypto asset has recovered above 20 and 50 EMA while preparing for 100 and 200-days Daily Moving Average.
  • The pair of BAT/BTC is at 0.00002058 BTC with an intraday gain of 9.62%.

Basic Attention Token price has recovered from the lower level of the consolidation phase and is preparing for its breakout. BAT bulls are currently trying to sustain at the upper trendline and BAT is trading with strong bullish momentum over the daily price chart. The troken at first fell from the same consolidation phase as BTC slumped below $25000 and then BAT faltered to gain uptrend momentum over the daily price chart. However, BAT now manages to gather support and is now preparing for its breakout as BTC, the traditional cryptocurrency, has also risen from its own ashes.

Basic Attention Token price is presently CMP at $0.43 and has gained 11.71% of its market capitalization in the last 24-hour period. Trading volume has increased by 23% in the intraday trading session. This shows that buyers are indulging themselves to let BAT sustain at the verge of the consolidation phase. Volume to market cap ratio is 0.2148.

BAT coin price is trying to escape the consolidation phase over the daily price chart. BAT bulls look pretty determined to register the token’s breakout. However, bears may interrupt the uptrend momentum of BAT coin due to the ongoing bear market. For the time being, volume change can be seen below average and needs to grow for BAT to sustain at the verge of horizontal range-bound area. 

What do Technical Indicators Suggest about BAT?    

BAT coin price has been trading with strong uptrend momentum over the daily price chart. The tone looks prepared to register its breakout as it has recovered above 20 and 50 EMA. Technical indicators suggest the uptrend momentum of BAT coin. Relative Strength Index showcases the strong uptrend momentum of BAT coin. RSI is at 59 and is heading towards the overbought territory. BAT investors can expect any directional change as soon as RSI enters overbought territory. MACD exhibits the bullish momentum of BAT coin. The MACD line is ahead of the signal line after a positive crossover. 

Conclusion

Basic Attention Token price has recovered from the lower level of the consolidation phase and is preparing for its breakout. BAT bulls are currently trying to sustain at the upper trendline and BAT is trading with strong bullish momentum over the daily price chart. However, bears may interrupt the uptrend momentum of BAT coin due to the ongoing bear market. For the time being, volume change can be seen below average and needs to grow for BAT to sustain at the verge of horizontal range-bound area. Technical indicators suggest the uptrend momentum of BAT coin. RSI is at 59 and is heading towards the overbought territory. BAT investors can expect any directional change as soon as RSI enters overbought territory. 

Technical Levels

Support Level: $0.35 and $0.30

Resistance Level: $0.45 and $0.50

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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.  

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