- The BAT token chart shows a golden crossover of the 50-and-200-day EMA
- The BAT/BTC pair traded for 0.00001946 BTC with a gain of 43.46%
- The daily trading volume for The BAT token is $3.95 Billion, indicating a 346.5 hike
As mentioned in my previous article on BAT, the token price managed to escape from its consolidating range when it gave a decisive breakout from a crucial resistance level of $0.766. Furthermore, on October 30th, the price provided a proper retest to this level and started rallying again. However, the price surged more than one’s expectation, displaying a long green candle of 65% gain.
About 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, encouraging the ongoing rally.
The RSI value at 72 indicates a strong bullish sentiment within the BAT token.
The BAT Token Chart Shows An Evening Star Candle At The $1.418 Mark.
As for today, the BAT token experienced intense selling pressure from the $1.418 resistance, displaying an evening star candle pattern in the 4-hour time frame chart. The token price is currently indicating a good follow-up candle and is also trying to breach the near support of $1.137. The current price of BAT token is $1.11, with an intraday loss of 9.93%
The moving average convergence/divergence indicator (BULLISH) shows that both the MACD and the signal line are moving high above the neutral area (0.00), indicating strong bullish momentum in the BAT token.
Conclusion: From a technical perspective, the BAT token price showed a remarkable recovery in its chart, suggesting a bull rally in this token. However, as mentioned above, the price is currently going through a minor retracement phase. Therefore the crypto traders can mark the significant support levels in this chart that can help the price to continue its rally.
Support – $0.98
Resistance $1.137