- The Basic Attention Token has very low supply inflation.
- BAT crypto has been witnessing very low-volume activity for the last few days.
Basic Attention Token aims to transform digital advertising through its Ethereum-based ERC-20 token and Brave browser. Created by Brendan Eich, co-founder of Mozilla, BAT rewards user attention and incentivizes content creators while prioritizing online privacy. Brave Software Inc. powers BAT, providing a secure, transparent ecosystem for users, publishers, and advertisers.
The market cap of the Basic Attention Token has been trading flat over the last 24 hours and has witnessed a slight advance of 0.2%. Despite this, the traded volume for the crypto has declined by 27.6%.
Basic Attention Token has a market cap value of $368.709M, resulting in a market cap ranking of #173 per CoinMarketCap. Also, the value of the traded volume in the last 24 hours for the crypto is $14.366M, resulting in a volume/market cap ratio of 4.29%.
The crypto has a circulating supply of 1.49B BAT, and the total supply is 1.5B BAT. The maximum supply of the crypto is also similar to the total supply of the crypto. This is followed by a fully diluted market cap of $361.79M, and the supply inflation of the crypto is just 0.12%.
Basic Attention Token has a market cap dominance of 0.02%, and the crypto volatility is also high, which results in a volatility of 10.14%. The crypto sentiment is bearish, as per Coincodex, and the fear and greed index shows greed among investors.
Basic Attention Token Crypto Derivatives Analysis
The long/short ratio for the Basic Attention Token is 1.0214, followed by the crypto, which has witnessed higher long liquidation in the last 24 hours. This further resulted in a long liquidation of $4.33K, against which the short liquidation is worth $0.228.
The volume of trading for crypto derivatives further increased by 4.5% in the last 24 hours. This further results in a traded value of $15.43M. Despite this, the open interest has witnessed a decline of 4.2%.
BAT Crypto Technical Analysis
The BAT crypto price has formed a symmetric triangle on the daily chart if the crypto and the crypto price have broken below the following pattern. The crypto price further is making a lower low swing on the chart.
The price of the crypto further continues to decline to lower levels and has also completed the retracement of the downtrend. Also, crypto has a lot of space on the lower side, which might lead to low support levels.
BAT/USD Chart by TradingView
The price of the BAT crypto was retraced to the 20 and 50-day EMA and is continuing to decline, followed by the bearish cross of the EMAs. The price has also dropped below the 200-day EMA, showing a strong price downtrend.
The MACD and the signal line overlap, but the following metrics trade below the zero level. The bullish histograms are also fading, indicating the possibility of further decline in the crypto price.
The RSI has declined below the 14-day SMA and is currently trading at 37.61. The RSI has been consistently declining from the overbought zones and is slipping towards the lower levels.
Summary
BAT’s price breakdown below a symmetric triangle pattern signals a potential decline, supported by technical indicators like bearish EMAs and weakening MACD histograms. With declining options volume and bearish sentiment, the crypto price might continue to lead to lower levels and hit the support level.
Technical Levels:
- Support levels: $0.1690 and $0.2120
- Resistance levels: $0.3530 and $0.3890
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.