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- Basic Attention token price is up by 17% on a weekly basis.
- BAT crypto price holds the 50 day EMA and attempts to break the 200 day EMA.
- BAT price formed a long term base near $0.200.
Basic attention token price formed a bullish continuation pattern and gained 17% on a weekly basis. BAT crypto price sustained above the 50-day EMA indicating that a short term trend is working in favor of the bulls. It is also attempting to break out of the 200 day EMA which could spur investor confidence. BAT price has recovered 44% (approx) from a recent swing low at $0.2000, showing signs of long term base formation.
Basic attention token price is trading at $0.2873 rising 7.00% intraday. The 24-hour volume to market cap ratio is at 0.2369. The pair of BAT/BTC is trading at 0.00001012 BTC with an intraday rise of 7.32% indicating high correlation between the direction of both the pairs. In mid-January, BAT crypto price managed to climb above the 50-day EMA and gave signs of a bullish trend reversal.
BAT price began to rise upwards by forming higher high swings and rallied nearly 66% in one month. During the rally, BAT price broke out of the 200 day EMA and created positive hope for its investors. However, the breakout was not successful and the bulls failed to give the follow up momentum.
Basic Attention Token Price Turned Bullish?
Basic attention token price consolidated for a few days near the supply zone of $0.3362 but slowly and steadily it reverted in the downward direction. Early March, BAT crypto price began to decline, forming lower-lows and ended up losing all its previous gains. Mi-March, BAT price took a halt at $0.2000 and formed a bullish engulfing candle and showed decent recovery from the lower levels.
Presently, BAT price has picked up momentum and might be suggesting that the buyers are back on track. Technical analysis suggests that BAT crypto price is in an uptrend and is likely to show more upside in the coming months.
Is the BAT Price Bullish on Multiple Time-frames?
BAT price broke out of the previous week’s high and formed a bullish Marubozu candle on a weekly timeframe. BAT price is turning bullish on multiple timeframes and any minor rejection will create the possibility of bounce-back from the support levels.
The MACD generated a positive crossover indicating buyers’ strength. The RSI at 59 sloping upward indicates that more room for upside is open for the bullish traders.
Conclusion
Basic attention token price is up by 17% on a weekly basis and seems like buyers are returning back to the bullish track. Technical analysis suggests that BAT price is in bullish grip and that more upward momentum is possible in the coming months.
Technical levels
Resistance levels : $0.3362 and $0.4500
Support levels : $0.2000 and $0.1600
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.