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Basic Attention Token Classic Price Analysis: Will BAT Continue To Follow The Upward Curve?

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  • The BAT is  strongly following the upward trend 
  • The current price of BAT is approx $0.455
  • The pair of BAT/BTC is currently at 0.000714 BTC

The Basic Attention Token classic strictly follows the upward momentum the bulls have worked so hard to bring this upward trend and beat the bearish trend. The BAT is following the upward trend the bears will try their best to beat the bull’s strategies but this time the bulls have a strong plan to defeat the bears. Will bears make the coin to follow the bearish trend or bull’s trend will continue?

Over this fluctuating market, the Basic Attention Token Classic is currently maintaining the price of approx $0.455 and the price has increased by around 0.90% during the intra-day trading session the coin is strongly following the bullish trend the price may reach up to the primary resistance of around $0.4693 and if the bulls do not enter the trade the price may break to the secondary resistance of $0.4988. And this could be the end of the bear’s trend and the coin may gain its potential. But if the bull’s planning gets weakens then it could bring the bearish trend and may the coin reach the primary support of around $0.4254 and the bears will try to manipulate the price more and then it would be easy for them to capture the market and bring the price to the secondary support of $0.3884. The bears may try to bring a change to the market of BAT.

The volume of the coin has decreased by 0.96% in the last 24 hours the continuous decrease in the volume indicates that the short selling pressure is increasing and if the current bullish trend continues, investors will get a chance to enter the trade. If the bears remain inactive, this would make the whales move. This indicates that bears are seeking to enter the trade; we will see who wins, bulls or bears. The volume to market cap ratio for BAT is 0.1682. To match the expectations of investors, the bears must push themselves. Because the bulls are seeking to smash the bears, the bears will have a difficult time developing a solid market for BAT and it would be more difficult for bears to reach their desired targets.

The technical indicator shows the following: The Relative Strength Index is approaching overbought territory. The current RSI is 63.72 which is above the average RSI of 55.42. The bulls worked hard to get the RSI to the overbought zone. However, the stillness of the bears is an advantage for the bulls to prepare for their desired goals and pushed the RSI into the overbought zone. The bears have to go some extra miles to normalize the RSI. The coin’s price remains above the 20,50 Exponential moving and is still lagging behind the 100,200 Daily Moving Average. 

Technical Levels

Support Levels:$0.4254 and $0.3884

Resistance Levels: $0.4693 and$0.4988

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Steve Anderrson
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