Basic Attention Token Price Analysis: BAT Stuck in Extreme Sideways Zone, Wait for Breakout

The Basic Attention Token (BAT) has been trending sideways for the past four days.
Despite a soft bullish trend, BAT price is in the red zone of the Supertrend indicator.
The BAT token belonging to the bitcoin pair is down 2.6% at 0.0000158 satoshis.

The Basic Attention Token (BAT) has been trading in the selling area since mid-August. Although the price behavior of BAT crypto shows an uptrend since last week, the price moved sideways after the recent surge. Thus, crypto has been under extreme pressure for the past four days.

Before registering a monthly low, the BAT coin was consolidating under a horizontal range between the support at $0.35 and the resistance at $0.47. In this wide range, many investors have lost their money as they were trapped by sellers many times. Meanwhile, at the time of writing, the BAT token was trading at the $0.358 mark against the USDT pair.

The BAT token has lost trading volume over the past few days due to excessive sideways movement, with $50 million in trading volume last evening. An increase in trading volume could attract buyers towards higher momentum. Thus, according to CMC data, the market cap of the BAT token has dropped by 1% to $535 million in the last 24 hours.

BAT bears dominated the downtrend below the red zone of the Super Trend indicator in terms of the daily price scale, following a reversal from the August high. Therefore, the BAT coin belonging to the bitcoin pair is down 2.6% at 0.0000158 satoshis.

Price Rise May Influence Buyers

The Basic Attention Token (BAT) has started to move above the 21 and 25 day moving lines of the EMA ribbon indicator on a daily price scale. Buyers may struggle in this area and the 200-MA of the lower indicator is too far but it could disrupt the further trend. Besides, Stoch RSI remains in the overbought zone.

Conclusion

The Basic Attention Token (BAT) got stuck in excessive sideways territory due to low trading volume. However, the prices have started showing signs of slight improvement since last week.

Support level – $0.30 and $0.25

Resistance level – $0.50 and $0.60

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.