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BAT prices show a falling trend, ready to crack under the $0.35 mark after the buyers failed to surpass the $0.43 mark. Key technical points:
- The BAT market price has decreased by 4.16% over the past 24 hours.
- The price action shows the retracement trying to stick to the 50-day SMA.
- The 24-hour trading volume of Basic Attention Token is $92.78 Million, indicating a rise of 71%.
Past Performance of BAT
The bullish reversal in BAT prices from $0.28 surpasses the long-coming resistance trendline to reach the overhead resistance at $0.43. The reversal rally accounts for a price jump of 45% between June 19th and 25th. However, the sellers quickly overtook the trend control resulting in a drop to $0.35 with an increase in selling pressure. 
Source- Tradingview
BAT Technical Analysis
The BAT buyers struggling to sustain above the 50-day SMA and the higher price rejection in the previous daily candles warn of a downtrend continuation. Hence, traders can expect a selling opportunity shortly when the prices close under the $0.35 mark. The most crucial SMAs 50, 100, and 200 days marked as orange, red, and black are in a bearish alignment, displaying a solid underlying bearishness. Additionally, the reversal trend struggling to hold over the 50-day SMA is a clear bear cycle indication. The MACD and signal lines show an uptrend takes a lateral shift in trend near the zero line, trying to keep the alignment positive. Thus, the indicator warns of the bearish crossover possibility. The RSI indicator displays the slope retracing below the halfway line and the yellow line of the 14-day average. Therefore, the indicators reveal a growing pressure of selling, cutting points from the possibility of upward trends. In a nutshell, the BAT technical analysis shows a higher likelihood of a prolonged correction phase.
Upcoming Trend
If the daily candle closes below the 50-day SMA or the $0.35 mark, the extended correction could lower the BAT price by 40% to reach $0.28. Resistance Levels: $0.43 and $0.56 Support Levels: $0.35 and $0.28