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- 1 BAT tried to make a breakout through its severe resistance but failed
- 2 BAT price after making an exceedingly bullish rally has been overwhelmed by the sellers
BAT Price after taking support from the level of $0.1635 since early January gained the support of the buyers and made an extremely bullish rally of more than 80% while respecting its support of 20 EMA and crossed over all the major key indicators like 50 and 100 EMA. The current BAT price is $0.2591 with a change in 24-hour trading volume of – 2.36%. BAT price is down 2.83% in the last 24 hours. BAT is seeing a decline of -2.55% in its market cap.
Although after reaching its severe resistance the 200 EMA BAT price tried to break out of it with a strong bullish candle and consolidate above those levels the buyers did not support the price and BAT fell down 14% crossing below the 200 EMA with a strong bearish candle. However, the BAT price again tried to make a retest around the price of $0.2993 but failed to break through taking a decline of 14% crossing below all the major key averages.
BAT price trending on a severe downtrend on ( Daily Timeframe )
As illustrated in the above picture the bear price is currently trading near the price of $0.2582 which is close to its current support level around the price of $0.2564 while the upward curve of the price suggests that the BAT might take a short corrective rally before continuing the downtrend market. If the price does take the correction it can go up to 6% before its resistance level while if the BAT price brakes its support level it goes further down 9% before its recent support level.
Technical Analysis ( On 1 Day Timeframe )
The RSI line is trending in a downtrend near the demand zone below the median line around 40.56 points while taking resistance from the 14 SMA which is trading around 53.12 SMA.
Conclusion
The Basic Attention token is trending under a severe downtrend below the 200 EMA after breaking down of the 20 EMA and other Key averages. BAT’s price is down 14 percent from its previous high while the downward curve of 20 EMA is suggests that it might soon move downwards with the price while giving a negative crossover. The Sellers are currently dominating the BAT price by a slight percentage of 50 – 51% across the major cryptocurrency trading platforms according to the Glass coin site.
Technical levels –
Support – $0.2369
Resistance – $0.2741
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
