Basic Attention Token price analysis: The bulls overpowered the bears and conquered the price of the BAT

  • The bulls have taken over the price of the coin is moving on the upward curve
  • The current price of Basic Attention Token is currently around $0.4254 with a total increase of 5.42% during the intraday trading session.
  • The pair of BAT/BTC is approximately at 0.0002547 BTC and has inclined by 5.40% in the last 24 hours1

The BAT is getting upward momentum, the bullish trend has come in momentum, and the price is moving towards the desired targets of the bulls.

The bears will try to get involved in the trade and bring the bullish trend. As previously the coin has started following the bearish trend the bulls have overcome the bearish trend and brought the bullish trend now the BAT is breaking the bears’ backbone and gaining some upward momentum now it’s time to check how the bears will overcome this defeat by the bulls.

The price of BAT is currently at $0.4254 and it has increased by a total of 5.48% during the intraday trading session. The pair of BAT/BTC is approximately at 0.0002547BTC and has inclined by 5.40% in the last 24 hours. The bulls seem to dominate the trade. This may lead the price to reach the primary resistance of $0.4388 and this price could break up to the secondary resistance of $0.4593. If the bears come with a better and stronger approach the price may breakthrough to primary support of $0.3959, if the bull’s calmness from earlier sessions holds, the price may drop towards the secondary support of $03598 The bears will have a hard time getting to their desired targets. As the bulls are dominating the coins price creating attraction of new investors towards the BAT.

The volume of the BAT has increased by around 170.48% during the intraday trading session the continuous drop in the volume indicates that the selling pressure has increased and the buyers have to get in action to make the coin revive its potential. The volume to market cap ratio is around 0.1831.

The technical indicator shows the following: The relative strength index is getting close to being overbought. The current RSI, which is 57.47 is higher than the average RSI, which is 50.33. Bulls put a lot of effort into pushing the RSI towards the overbought region. And the coin has reached the over brought zone. But the bears were inconsistent, the bulls had time to prepare for their goals and the RSI entered the overbought zone. The bears will need to exert more effort to normalize the RSI. The price of the coin is still higher than the 20,50,100,200 Daily Moving Average. Investors of BAT rely on the bulls to keep their aspirations alive. However, the bullish trend is increasing investors’ expectations.

Technical Levels

Support Levels: $0.3959 and $0.3598

Resistance Levels: $0.4388 and $0.4593

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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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