BAT Gains Momentum, Will It Reach $0.3000?

Basic Attention token (BAT) price is halting the gains near the 20-day EMA mark and buyers are losing the momentum. Moreover, the token pulled back from the 100-day EMA and retained in the neutral region. The technicals indicate that BAT token regained its shine and has climbed above the key moving averages depicting the buyers’ accumulation.

BAT token has established a range breakout and witnessed a trend reversal above $0.2000 and rebounded from the bottom mark of $0.1500, where a double bottom pattern was formed and the token registered a breakout. Moreover, the price action shows the buyers’ accumulation and investors are drawing their attention and are looking to reach the supply zone of $0.3000.

The live price of the BAT token is $0.2231 with an intraday gain of 4.35%, showing neutrality on the chart. Moreover, the trading volume increased by 52.96% to $174.84 Million and the pair of BAT/BTC is at 0.00000600 BTC. However, the market cap of BAT token is $337.51 Million. Analysts have maintained a buy outlook and suggest a growth outlook for the upcoming sessions.

Will BAT Token Price Retest $0.3000?

On the daily chart, BAT token price showcased a range breakout and climbed above the resistance mark of $0.2000, witnessing buyers’ accumulation. Moreover, the price action highlights the volume spurt as the token surged over 30%.

The RSI curve is in the overbought zone and formed a positive divergence, indicating a favorable bullish outlook for the upcoming sessions.

The MACD indicator shows a bearish crossover and formed red bars on the histogram, suggesting a volatile outlook for the upcoming sessions.

Weekly Charts Shows Rejection From 50 Day EMA?

On the weekly chart, the BAT token price is stuck between the 20-day EMA and the 50-day EMA and buyers are trying their best to surpass the barrier of $0.2500, but due to the strong grip of sellers, buyers find it difficult and are hovering in a biased range.

Summary

Basic Attention token (BAT) price is hovering near the 20-day EMA mark and is waiting to retest the immediate hurdle of $0.3000. Moreover, the price action witnessed a rebound from the 100-day EMA and shows the buyers’ accumulation. However, the trend is neutral and the downside is capped till $0.1800, whereas the upside is open till $0.3000.

Technical Levels

Support Levels: $0.2100 and $0.2000

Resistance Levels: $0.2400 and $0.2700

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.