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Basic Attention Token Forecast: Will BAT Reach $1 Mark?

The Basic Attention Token (BAT) fuels an innovative digital ad platform on the blockchain, aiming to equitably compensate users for their engagement and offer advertisers a higher yield on investment.

 This system is operational through the Brave Browser, which allows users to view ads that respect their privacy and earn BAT as a reward. Advertisers benefit by directing ads to the right audience, enhancing interaction, and minimizing losses from fraudulent activities.

In this ecosystem, BAT serves as the currency of exchange, circulating among advertisers, content creators, and the audience. Ad campaigns are purchased by advertisers using BAT, with a fraction of the budget allocated to content creators, and a substantial 70% shared with the audience. 

This model eliminates the middlemen traditionally associated with high ad costs, thereby enhancing the efficiency of ad spending.

Technical Analysis of BAT Crypto

BAT

The BAT crypto price has started a major bullish move from the $0.29625 support level. The price broke above the major trendline at the upper level, resulting in an upsurge of over 17% in a week. Moreover, it is heading towards $0.39000.

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The BAT token price has been performing in an uptrend. The price formed multiple higher-high swings and continued its bullish rally to date. It mirrors the stability and trust of the BAT community in its project.

BAT price prediction favors the bulls and suggests a rise in the long run. Buyers seem to be more active as compared to sellers. Therefore, the recovery looks reliable, and fresh buying is also visible.

When writing, the BAT price was trading at $0.34969 with an intraday gain of 4.38%. The market capitalization is $520.08 Million and the 24-hour trading volume is $86.83 Million. The circulating supply is 1.49 Billion and the fully diluted market cap is $523.43 Million. 

The MACD line is inclining from the lower levels followed by the incline in token value. Also, the histograms are bullish on the chart while the lines are trading above the zero level.

The RSI is inclining from the oversold zones and has inclined above the 14-Day SMA. The value of the RSI further has inclined above the 50 level and is currently trading at a level of 59.82.

BAT Crypto Price vs Volume Analysis

The volume and price graph displayed that the trading volume has increased from $21.78 Million to $86.51 Million in the last 3 days and the price has also increased. In the last 7 days, the price has grown by 17.34% and the price is expected to bounce back in the short term.

BAT Crypto Social Dominance vs Social Volume Analysis

The graph of social dominance and social volume shows that awareness and interaction on social media like X, Instagram, and Telegram have stagnated in recent times. The momentum of BAT crypto price may depend upon social dominance and social volume.

Summary

The Basic attention token is currently trading in a bullish momentum. After a major decline, it took a pullback. Major indicators are on the bullish side and the Santiment data is also positive showing the bulls are controlling the price.

Technical Levels

Support Levels: $0.26320

Resistance Levels: $0.38500

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Ahtesham Anis
Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.