- The price of Basic Attention (BAT) has decreased by 1.81% in the last 24 hours and is currently trading at $0.20076.
- BAT has stopped forming lower lows and has made a new higher high swing, rising by 3.40% in the past week.
- The trading volume of BAT has spiked by 49.34% in the last 24 hours, suggesting that there is a renewed interest in the token.
Basic Attention coin created fresh higher highs a few days ago, indicating a change in trend, and is now encountering resistance at its current market price (CMP). The market is reversing from the resistance level, although buyer interest appears to be dwindling as momentum has slowed down.
Since last week, the Basic Attention coin has been moving in an upward direction, but resistance is currently present at its current market price (CMP). Additionally, the bearish crossover of the 20/50 EMAs shows that market sentiment is bearish side and buyer hopes were breaking downs. If BAT’s price breaches the support level, this can cause a further decline in price.
Basic Attention Coin Technical Analysis
The Basic Attention coin is trading above 20 and 50 EMA but the crossover is bearish which represents bearishness and absence of buyers interest in the market.
It would be better to wait for the bullish crossover in the market as the market is taking resistance at CMP as it had created a swing high previously at the same level.
Based upon the current scenario the RSI is trading above the 50 level. However, it seems that the market has given a fakeout as it is reversing just after giving a breakout from the previous swing level. Based upon this behavior of the market, RSI waning below the level of 50 can lead to a downtrend.
Market Structure
Based upon the current market scenario Basic Attention crypto started to make higher highs by taking rejection from the 50-day Exponential moving average and creating support at the 20-day exponential moving average and is now currently facing resistance at the previous swing high, this somehow represents the absence of buyers in the market and also depicts the losing interest of buyers.
Technical Levels
- Support Level –The current support levels are 0.18331 and 0.16410
- Resistance Level – The current resistance levels are 0.22619 and 0.25797
Conclusion
By looking at the current market scenario we can depict that the market is showing mild bearishness. However, it is reversing from the previous swing high, and also the BAT coin is trading in the bearish crossover. Based upon the analysis the Basic Attention coin can drop to the lower levels and in order to show new higher levels it will have to break the $0.20855 level.
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.