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- 1 BAT price prediction remains bullish for the next few months till it sustains above the $0.2000 level.
- 2 Basic Attention Token price bounced back by taking support near the 50-day EMA.
- 3 The EMAs in the BAT crypto displayed a golden crossover and the price sustains above it.
BAT price prediction stays bullish for the next few months till it sustains above the $0.2000 level. BAT crypto price took support near the 50-day EMA and showed a decent bounce. It shows the presence of buyers at the lower levels so downside risk is low.
The 50-day EMA positively intersected with the 200-day EMA indicating that an uptrend may continue. Meanwhile, the buying volume also surged and the price was positively impacted so the participation of the big players is visible.
In mid-November, the Basic Attention Token price attempted to break out of the $0.2600 hurdle. However, the sellers were active and succeeded in rejecting the price.
Later, the price witnessed booking and reversed downward. It retraced back to the previous breakout at $0.2000 and eroded 50% of the gains. Luckily, buyers were active near the support and succeeded in halting the downfall.
Gradually, the price recovered and reached the November 2023 high. But the question is whether the buyers can break the $0.2600 hurdle or face rejection.
Will BAT Price Perform Well in the Coming Months?
BAT price is in the recovery mode and buyers look more aggressive as compared to sellers. The short-term sell-off is getting absorbed near the support. It indicates that some big player is active and will not let the price go below the $2.000 level.
However, the next phase of recovery in BAT will trigger when buyers can break the $0.2600 hurdle. Till the price sustains above both the EMAs, the probability of breaking the $0.2600 barrier remains high.
The analysis suggests that BAT crypto price is inside the bulls’ grip and may show a good performance in the coming months.
BAT Price Analysis: Bears Losing the Grip in Supply Zone
Basic Attention Token price is forming a bearish hammer candle on the weekly chart. It indicates that sellers are trying their best to defend the supply zone. However, the price action tells us that bears are losing their grip. So, they may lose control over the supply zone at times.
The MACD curve is sloping upward and the histogram bar is forming green bars. The RSI curve at 58 also favors the bulls and suggests more upside is pending.
Conclusion
BAT price prediction suggests that bulls are active and more upward momentum is possible. The chart pattern is also bullish and shows that the price is getting ready for a massive breakout.
The analysis suggests BAT crypto is inside the bulls’ grip so the possibility of $0.2600 breakout remains high.
Technical Levels
- Resistance levels: $0.2641 and $0.2800
- Support levels: $0.1956 and $0.1800
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.