- Basic Attention Token price is trying to sustain above the horizontal; range-bound area over the daily price chart.
- BAT crypto has recovered above 20 and 50 EMA and still lagging behind 100 and 200-days Daily Moving Average.
- The pair of BAT/BTC is at 0.00001906 BTC with an intraday gain of 3.38%.
The price of Basic Attention Token has risen from the bottom of the consolidation phase and is getting ready to break out. BAT is trading with strong bullish momentum on the daily price chart as bulls attempt to hold over the upper trendline. The token initially dropped as BTC dropped below $25000 and BAT struggled to gain uptrend momentum over the daily price chart. Though BTC, the conventional cryptocurrency, has also risen from the ashes, BAT has already managed to amass support and is getting ready for its breakout. BAT must sustain itself above the consolidation phase and it must gather support from the bulls to maintain itself above the range.
The current CMP price of Basic Attention Token is $0.44, and in the previous day, it lost 0.63 percent of its market value. In comparison, the intraday trading session has seen a trade volume increase of 82.83 percent. This demonstrates that buyers are being indulgent in order to keep BAT alive as the consolidation period approaches. The volume to market cap ratio is 0.1226.
On the daily price chart, the BAT coin price is attempting to break free of the consolidation period. Bulls in BAT appear to be quite motivated to record the breakout of the token. The continuous bad market, however, may cause bears to halt the BAT coin’s rising momentum. Volume change is now below average and must increase for BAT to maintain its position at the edge of the horizontal range-bound area.
What do Technical Indicators Suggest about BAT?
Technical indicators suggest the uptrend momentum of the BAT coin. The relative Strength Index showcases the uptrend momentum of the BAT coin. RSI is at 62 and is heading towards the overbought territory. MACD exhibits the uptrend momentum of BAT coin. The MACD line is ahead of the signal line after a positive crossover. BAT investors need to wait until bulls sustain at the verge of the consolidation phase.
Conclusion
The price of Basic Attention Token has risen from the bottom of the consolidation phase and is getting ready to break out. BAT is trading with strong bullish momentum on the daily price chart as bulls attempt to hold over the upper trendline. The token initially dropped as BTC dropped below $25000 and BAT struggled to gain uptrend momentum over the daily price chart. Though BTC, the conventional cryptocurrency, has also risen from the ashes, BAT has already managed to amass support and is getting ready for its breakout. Volume change is now below average and must increase for BAT to maintain its position at the edge of the horizontal range-bound area. BAT investors need to wait until bulls sustain at the verge of the consolidation phase.
Technical Levels
Support Level: $0.40 and $0.38
Resistance Level: $0.48 and $0.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
