- BAT is currently trading at a crucial point, price might head either way.
- Technicals suggest a mix of strength between the buyers and sellers.
- BAT/BTC is currently trading at 0.00001157 BTC with an intraday change of +2.94% while BAT/ETH is trading at 0.0001805 ETH with an intraday change of +1.06%.
BAT price is currently trading above all the significant 50, 100 and the 200 day moving averages. Currently, the price is very close to the 100 day moving average which is acting as support for the time being. The price is expected not to breach the 100 day moving average considering the overall crypto scenario presently. As long as the price manages to stay above the 100 day moving average, we can say that the bulls are in the steering.
The relative strength index(RSI) is suggesting a neutral momentum though the RSI line is currently below the neutral zone, but it is almost trying to break the neutral zone.
The moving average convergence divergence (MACD) is referring to a bearish momentum with both the MACD and the signal line resting below the zero line.
The MACD line is close to crossing the signal line and if this scene happens we will witness a downfall in the price of BAT. The histogram is also showing that the buyers are gradually losing strength.
The Fibonacci indicator is suggesting an immediate support at the $0.6616 price level. If the price breaches this level the $0.5816 and $0.4523 price levels will come to play. The resistance levels indicated by the Fibonacci are the $0.7262, $0.7909, $0.8829 price levels.
NOTE: The moving average 50, 100 and 200 are in colour Yellow, White and Red.
The MACD line is coloured Blue while the signal line is coloured Red.
The important support and resistance levels to keep an eye on are:
SUPPORT: $0.6616, $0.5816, $0.4523
RESISTANCE: $0.7262, $0.7909, $0.8829
TAKEAWAY: Considering the technicals mentioned above, there is a mixed strength of both the buyers and sellers. The price can head either way given the conditions above. If the immediate support level mentioned by the fibonacci is breached, the scene will be painful for the bulls in the days to come.