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- The BAT price is recovering over the daily chart but the token needs to speed up the recovery to sustain in the volatile crypto market.
- The crypto asset is trading above the 20 and 50 days average and is about to approach the 100-day one.
- The BAT/BTC pair is at 0.00002006 BTC which is at a loss of 0.94%.
BAT’s price after facing a bearish rally is now at a flattering uptrend movement over the daily price chart. This flattering uptrend is showing the efforts of bulls and the volume also crossed the average on the previous 3 days. If the situation continues the coin may recover soon as the price surged 28% in the past 10 days. This recovery is not enough so the coin needs to attract more buyers in order to speed up this recovery, and it is necessary as the investors are facing huge losses. The bears will definitely try to interrupt and make the volume fall which in turn will lead to a price drop. The token may fall in a parallel channel if both the bulls and bears will try to manipulate the price.
The current price for BAT which is at a flattering uptrend is trading at $0.43 which is a loss of 4.78% in its market capitalization in the last 24 hrs. The coin has a volume of 74 million which is also at a loss of 6.94% in the 24 hrs trading session and a market cap of 649 million. The volume market cap ratio is 0.1154
Short-term Analysis for BAT
The BAT token has started following a downtrend movement over the short-term (4 hrs) graph amid the return of bearish pressure. But the bulls had started opposing the movement.
Technical indicator MACD shows the battle between the bulls and bears as the histogram is fluctuating investors need to wait to get a directional move. Whereas the relative strength index is indicating a slight increase in buying but is also fluctuating. The RSI value is nearly equal to 50.
Conclusion
BAT’s price after facing a bearish rally is now at a flattering uptrend movement over the daily price chart. If the situation continues the coin may recover soon as the price surged 28% in the past 10 days. The token may fall in a parallel channel if both the bulls and bears will try to manipulate the price. On the other hand, the BAT token over the hourly graph shows the bearish pressure along with the bulls battling for dominance over the market. The investors should wait for a directional move.
Technical levels
Resistance levels: 0.46 and $0.51
Support levels: $0.38 and $0.28
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
