Basic Attention Token Prediction for Today, November 7: APE/USD Bears Market

Basic Attention Token was targeting the $0.35 resistance price level from which it was defeated on September 13. After the strong buying pressure helped secure support at $0.27, the bulls market charges at the $0.35 price level. However, the selling pressure is still strong around the same $0.35 price level and the bullish attempts fails.

Basic Attention Token Market Price Statistic:

• BAT/USD price now: $0.267
•  BAT/USD market cap: $366,785,355
•  BAT/USD circulating supply: 1.50Billion
•  BAT/USD total supply: 1,500,000,000
•  BAT/USD coin market ranking: #82

Key Levels

• Resistance: $0.25, $0.20, $0.15
• Support: $0.30, $0.31, $0.32

Basic Attention Token Market Price Analysis: The Indicators’ Point of View

The down-trending price stops briefly at $0.31 on November 7 due to strong bullish support at the level. When we view the market from a broad perspective, we see that the market is generally in a downtrend. However, from October 22, we see the buying pressure increasing till November 4 when the bullish price was rejected at the $0.35 price level. The MACD lines are far below the bullish zone. This is due to the bearish trend of recent weeks. The MACD lines are already facing the upward direction, trying to enter the bullish zone, but the bear market is now slowing them down.

BAT/USD 4-Hour Chart Outlook

The bullish price slowly fades at $0.34 and a brief period of price consolidation occurs from November 4 to November 6. Then the market indecision becomes more erratic as selling pressure and buying pressure increase proportionally. Then, the bears gain the upper hand and after the bears gain the upper hand, we see the RSI line falls to the threshold of the oversold region. The RSI line moves horizontally from here due to the bullish support. Because the RSI line is now in the oversold zone, it is likely the bear market stop here and the market retraces $0.027.

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