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- BAT is currently above 50 and 100 DMA but can see a negative crossover in the future.
- Technical indicators for BAT indicate a weak downside trend in price. It is down by more than 0.7% intraday.
Basic Attention Token (BAT) aims to revolutionize the way digital advertising works. They reward their users for their attention while providing a better return to their advertisers. It was developed by Brenden and Brian. It was launched in 2017 and became one of the fastest-selling ICOs.
BAT is built on the Ethereum blockchain. The primary use case of the BAT token is to run an ad campaign on the Brave browser. Basic Attention token has seen substantial growth with 1.7 million creators. Bat has 465,118 holders which is expected to grow in the future. It has over 10 million wallets and has done 4 million on-chain transactions. BRAVE has also been seeing strong growth with 21 million daily active users.
BAT has a market cap of $414,435,666 and is ranked 95th in the crypto-verse. The volume of BAT has seen a decline of over 44% in the past 24 hours. BAT has a total supply of 1.5 billion and 99% of it is circulating in the market. BAT price is down by 85% from its all-time high but can see a recovery soon.
Are Bears Taking the BAT Price Down?
BAT price has been trading near its 50 DMA in the weekly technical chart and showing a weak upside move. On the daily chart, strong bearish candles are being formed which can push the price down. BAT is trading near the value of $0.27 with a drop of 6.24% in the intraday session.
The upside trend of BAT can see a halt near the value of $0.3. Meanwhile, the support in asset price can be observed near $0.2. BAT is trading above the 50 and 100 Daily Moving Averages but can see a negative crossover in the future. It can push the asset price to a new low in the future.
The RSI of BAT is near 52 with a strong downside slope in asset price. The overall sentiment of the indicator suggests a bearish trend in price.
Summary
Basic Attention Token is attracting a lot of attention from investors due to their unique approach to advertising. BAT price can observe a negative crossover which can push the price down in the future.
Technical Levels
Major Support:$0.2
Major Resistance:$0.3
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.
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.
