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- BAT price prediction suggests a strong consolidation in the price for the upcoming weeks
- BAT has observed a strong decrease in the daily transaction count.It has seen a drop of 1.63% in the BTC pair
Basic Attention Token is a cryptocurrency that aims to revolutionize online advertising. It is built on the Ethereum blockchain and was launched in 2017 by Brendan Eich with Brian. Brendan was the co-founder of Mozilla and the creator of JavaScript in 1995
BAT aims to create a more efficient and fair online advertising system. They enable users to earn BAT tokens for their attention and engagement with ads. This gives users the power to control their data and what ads they want to watch. Brave browsers use BAT for rewarding their users. Advertisers can purchase space on the Brave Platform using BAT tokens. Basic Attention token eliminates the need for middlemen in the advertising industry such as ad networks. It gives power to advertisers to reach their targeted audience more effectively. Brave Browser has 55 Million active users with 1.5 Million verified creators who accept BAT. Basic Attention token has less ROI as compared to other altcoins but can see a rise in the future.
BAT is ranked 101st in the crypto verse with a market cap of $373 Million. The tokens observe high volume through CEX and very less from the DEX. BAT has seen a stagnant growth in the number of wallets but may soon see a rise.
When Will BAT Consolidation END?
BAT’s price has been seeing a bearish trend in the weekly technical chart. It is down by 86% from its all-time high of $1.9. Basic Attention token is currently trading near $0.25 with small gains in the intraday session. It has been seeing a consolidated momentum in the daily chart. The upside trend of BAT can see a halt near $0.3. Meanwhile, a bounce back in case of a downside move can be seen from $0.2. The asset price is trading below the 50 and 100 Daily Moving Averages. The 50 and 100 DMA can act as a resistance for price in the future.
The RSI of BAT is near 40 with a small positive slope suggesting its presence in the neutral zone. The overall sentiment of the indicator is consolidating.
Conclusion
Basic Attention Token has changed the face of advertising and is growing every day. BAT token is currently in consolidation but can move to a new high 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.
