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- BAT price remains above the 20,50,100,200 day Daily Moving Averages.
- The current price of Basic Attention Token is currently around $0.2944 with a total increase of 3.55% during the intraday trading session.
- The pair of BAT/BTC is approximately at 0.0001052 BTC and has inclined by 4.18% in the last 24 hours.
The bullish trend has gained as the BAT is going upward, and the price is heading in the direction that the bulls want it to that is the primary resistance level. The bears might make an effort to enter the trade and reverse the upward trend. As in the past, the bulls overcame the downward momentum and brought about the bullish trend.
BAT’s price was $0.4254, up 5.48% overall throughout the intraday trading session. The BAT/BTC pair is now at around 0.0001052BTC and has risen by 4.18% over the past 24 hours. The market appears to be dominated by bulls. This might cause the price to break through to the primary resistance of $0.3289 and hit the secondary resistance of $0.3561. If the bull’s composure from earlier sessions persists, the price may decline toward the primary support of $0.2358. If the bears arrive with a stronger approach, the price may penetrate the secondary support of $0.2099.
During the intraday trading session, the volume of the BAT climbed by almost 1.87%. This continuous volume decline suggests that selling pressure has intensified and purchasers must move quickly to help the currency reach its full potential. Around 0.1166 is the volume-to-market cap ratio.
The Technical Analysis of BAT
The technical indicator shows the following: The relative strength indicator is on the verge of overbought territory. The average RSI is 53.62, whereas the current RSI, which is 61.34, is higher. Bulls worked very hard to move the RSI into the overbought area. Furthermore, the currency has arrived in the overbought zone. But the bulls had time to plan for their objectives, the bears were erratic, and the RSI crossed into the overbought region. To normalize the RSI, the bears will have to work harder. Coin pricing remains above the 20, 50, 100, 200 Daily Moving Average. The MACD and MACD signal have intersected giving a positive crossover.
Conclusion
The Basic Attention Token appears to be bullish, with the price consistently remaining above the daily moving averages. The current price of BAT is $0.2944, and the BAT/BTC pair has increased by 4.18% in the last 24 hours. However, the bears may attempt to enter the trade and reverse the upward trend. If the bulls’ composure from earlier sessions persists, the price may break through the resistance.
Technical Levels
Support Levels: $ 0.2335 and $0.2099
Resistance Levels: $0.3289 and $0.3561
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 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.
