- Basic Attention Token is gearing up for a bullish price action.
- The hourly price action of BAT is showing a higher low above the support trendline.
- Trading volume increased by 42% overnight and was reported at $26 million.
Basic Attention Token price has been forming a bullish pattern for the past several days. At the time of writing, BAT token is trading at the mark of $0.2318 against the USDT pair. The rounding level of $0.20 still remains an important protection zone for the bulls.
On November 14, the bears hit a yearly low near the $0.20 support, but suddenly the bulls accumulated a significant amount of BAT token as the trading volume was reported at $35.5 million. Later, the trading volume is gradually decreasing on a daily basis. Meanwhile, the trading volume in the last 24 hours stood at $25.9 million, up 42%.
BAT Crypto on 4 Hour Chart
Under the 4 hour price scale, price action of Basic Attention Token (BAT) shows higher-lows above the support trendline. On the higher side, the $0.235 to $0.24 resistance zone maintains the selling pressure on BAT crypto. Now digital crypto is getting ready for massive price movementum either upside or downside.
In concern of resistance, the $0.27 level is ready for that. In contrast, the round level of $0.20 is still acting as a key support level. Thus, the market capitalization of Basic Attention Token has increased 4.30% at $347.2 Million.
Technical Indicators on Daily Chart
RSI is present at 39 mark after reversing from the oversold zone. Still its peak is remaining below the semi-line. ADX seems to be sideways at 35 mark, showing strength in ongoing recovery. But the MACD constantly stays into the negative region.
Conclusion
The Basic Attention Token (BAT) is preparing for a massive breakout above the resistance zone. RSI is looking positive for the higher trend which may drive the trend towards $0.27 resistance level.
Support level – $0.20 and $0.17
Resistance level – $0.27 and $0.350
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/11/20/basic-attention-token-bat-may-overcome-the-selling-zone-in-the-upcoming-week/