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- Basic Attention Token price prediction suggests the recovery of the cryptocurrency from a declining parallel channel.
- BAT cryptocurrency trying to remain above $0.30 over the daily chart, investors need to wait for any directional change.
- The pair of BAT/BTC is at 0.00001581 BTC with an intraday gain of 1.79%.
Basic Attention Token price has successfully recovered out from the descending parallel channel over the daily chart. BAT crypto is currently trying to sustain at the current level. The token has been falling through the declining channel since August 2022. BAT investors have been waiting for so long for the token’s recovery above the channel. The token has finally surged above the channel and is trying to sustain, now bulls must accumulate themselves to provide the throttle to the token.
The market value of the Basic Attention Token has dropped by 0.20% in the previous day to $0.3295. But during intraday trading, the volume of trades increased by 86.59%. This demonstrates the bears’ attempt to get the token into the hands of short sellers.
The price of BAT crypto is trying to sustain above the channel. Buyers need to provide the required upthrust to the token to let the token maintain its position. BAT cryptocurrency needs to surge to prove its recovery phase over the daily price chart. However, volume change can be seen below average and needs to grow for BAT crypto to surge above the channel.
What do Technical Indicators suggest about BAT?
Technical indicators suggest the recovery phase of BAT token over the daily chart. Relative Strength Index showcases the uptrend momentum of BAT crypto. RSI is at 60 and is heading towards the overbought territory. MACD exhibits the sideways momentum of BAT crypto. The MACD line is ahead of the signal line but with a minor difference. BAT investors need to wait for any directional change over the daily chart.
Conclusion
Basic Attention Token price has successfully recovered out from the descending parallel channel over the daily chart. BAT crypto is currently trying to sustain at the current level. The token has been falling through the declining channel since August 2022. However, volume change can be seen below average and needs to grow for BAT crypto to surge above the channel. The MACD line is ahead of the signal line but with a minor difference. BAT investors need to wait for any directional change over the daily chart.
Technical Levels
Support Levels: $0.30 and $0.25
Resistance Levels: $0.35 and $0.40
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.
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.
