- The BAT token shows a golden crossover of the 50-and-200-day EMA
- The BAT/BTC pair traded for 0.00001304 BTC with a gain of 3.35%
- The daily trading volume for The BAT token is $875.1 million, indicating a 221.78% hike
On September 17th, the BAT token price dropped below the $0.76 mark to continue its short-term downtrend. This down rally tried to bounce from the $0.6 mark but could never pass the overhead resistance of $0.76. This resulted in the token price resonating between these levels for more than a month then.
However, On October 29th, the price finally managed to break out from the overhead resistance of $0.76, with a massive green candle of 22% gain, closing above this resistance level.
Regarding the EMAs: The BAT token’s price is trading above the crucial EMA’s of 20, 50, 100, and 200, indicating a bullish trend. Moreover, the 50 and 200 EMA gave a golden crossover, attracting even more buyers in the coin market.
The RSI value at 63 indicates a bullish sentiment within the BAT token.
The BAT Token Crypto Chart In The 4-hour Time Frame
As for today, the BAT token price has retracted back to the $0.76 mark to obtain proper support from it. The technical chart showed a bullish inside candle in the 4-hour time frame, indicating that the price has passed the retest phase and can rally again. The current price of BAT token is $0.85, with an intraday loss of 0.05%
The moving average convergence/divergence indicator (BULLISH) shows that both the MACD and the signal line are moving above the neutral area (0.00), indicating bullish momentum in the BAT token.
Conclusion: From a technical view, the short-term trend for BAT tokens is still bearish. However, the chart currently indicates a bullish outlook for this token, as the price breaks free from a consolidating range. Thus, the long trader can expect a good target of $0.91 and $1.01 if the price sustains above the $0.76 mark.
Support – $0.8
Resistance $0.91