The BAT/USD chart presents the token is still under an uptrend. However, the token price is quite close to the crucial support of $1, and with the current bearish momentum, it poses a good chance to drop below this level. Check out what can be expected next?
Key technical points:
- The BAT token forms a descending triangle pattern in the 4-hour time frame chart
- The daily RSI line drooping at a greater speed than the price action
- The intraday trading volume in the BAT token is $180.7 Million, indicating an 8% loss
Source- BAT/USD chart by Tradingview
Reclaiming the $1 resistance was a crucial step up for the BAT token investors. This rally was triggered at the end of October, significantly increasing the token price by reaching the $1.4 mark. However, the price had to retrace back to retest the new support of $1 and till today its is still hovering near this level.
As per the crucial EMAs(20. 50, 100, and 200), the BAT token still maintains its bullish trend as the price is trading above these EMA lines.
The Relative Strength Index(51) line is steadily dropping to the lower level, indicating the increasing strength of the market sellers.
BAT/USD Chart In The 4-hour Time Frame
Source- BAT/USD chart by Tradingview
This BAT price action suggests an even further fall in the token by forming a descending triangle pattern in the 4-hour time frame chart. The neckline for this pattern is at $0.95, and the token traders could grab a great short opportunity if the price gives a proper breakdown from this bottom support.
The MACD indicators project a bearish momentum in this token, where both its line MACD and signal are moving below the neutral zone.
Basic Attention Token (BAT) Rallies 67% in the Past 24-Hours
- BAT sees a new rally of 67%.
- At the moment, the crypto is showing all green in the market.
- There is a high probability for BAT to record a new ATH.
Basic Attention Token (BAT) price rallies to over 67% in the crypto market. The current BAT upward momentum is based on its price action and groundbreaking performance.
The crypto market is showing lots of red flags today but BAT is freshly reflecting new greens like it doesn’t care how other cryptos are struggling to go green. This is an outstanding performance and bull action that the crypto is currently orchestrating.
On the other hand, this also appears that BAT has geared up to record a new all-time high, even despite how major cryptocurrencies are showing red in the market. Not only this, last week, BAT’s price rallied more than 150% after it rebounded from the bottom. Rekt Capital shared the BAT post on Twitter.
$BAT / USD – #BAT #basicattentiontoken
BAT has rallied over 150% since rebounding from the bottom of the triangle and breaking out from this week
BAT has reached new All Time Highs
A new macro uptrend has begun#BTC #Crypto pic.twitter.com/JV2CXnG87R— Rekt Capital (@rektcapital) November 27, 2021
According to the post, Basic Attention Token still has the strength to begin a new macro uptrend and rock its price to the moon. At the same time, the BAT token is more proactive to change hands exponentially if traders make a slight purchase.
BAT is trading at a decent price of $1.68 with a market volume of over $2 billion. Its market capitalization value is also $2,508,913,872 threshold on CoinMarketCap.
Basic Attention Token (BAT) is a new blockchain-based system for the digital advertising industry. It is an ERC-20 token that operates under the Ethereum network that tracks and monitors media consumers’ time and attention on websites.
Basic Attention Token Best Performer in Top 100 After Technical Breakout, New Wallet
The advertisement-focused basic attention token (BAT) soared higher in price today after a major technical break-out on the chart sparked a buying frenzy among traders.
The token, which among other things is used to reward users in the privacy-centric internet browser Brave, rose by 21.7% over the past 24 hours, trading at a price of USD 1.59 at 10:20 UTC on Friday.
The gains today positioned BAT as the day’s best-performing token among the top 100 cryptoassets by market capitalization by a relatively wide margin.
The token, ranked as the 76th most valuable cryptoasset per CoinGecko, has also risen by 62.8% over the past 7 days, and 123.1% over the past month.
The recent gains come after the Brave browser on November 16 announced the Brave Wallet, a crypto wallet integrated into the browser with no need for browser extensions installed.
The wallet reportedly works with all Ethereum Virtual Machine (EVM) compatible chains, including Polygon (MATIC), xDai, Avalanche (AVAX), and others, as well as Layer-2 networks built on top of Ethereum (ETH).
The current price gains are also notable from a technical analysis perspective, with today’s rise marking a major breakout above the token’s all-time high of USD 1.6498 from April this year.
Moreover, today is also the first time since October 30 that BAT has traded above the USD 1.4 level, after a failed attempt at staying above that level back then.
BAT has seen gains even as the rest of the crypto market has experienced selling, with for instance bitcoin (BTC) being down nearly 4% over the past 7 days.