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- 1 Basic Attention Token Forecast suggests that the token price is in the bullish phase.
- 2 BAT token trading above the key moving averages showcasing the bull’s presence in the price.
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
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.
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
It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
