Basic Attention Token since the beginning maintained a very silent trend and failed to rise above $0.5 levels. Yet since the beginning of the 2021 bull run, the asset underwent an acute uptrend through Q1 2021 and managed to mark its highs around $1.64. Woefully the May crash dragged the price too low as $0.45 yet again.
After consolidating for more than a month, the asset flipped the bear with greater intensity and spiked high to hit $1.92. This rejection compelled the price to follow a serious downtrend and now when the asset is attempting to rebound, a slight weakness of buyers is amplifying the seller’s strength.
Will Basic Attention Token(BAT) withstand this trembled situation and continue heading towards the north? Let’s see!
Basic Attention Token(BAT)/USDT Technical Analysis at a Glance
After a consolidated kick-start of the current trading month, the asset leapt long by more than 20% to hit highs around $0.955. However, after hovering around the squeezed region for a couple of days, the BAT price yet again spiked up to hit the current monthly highs at $0.9871. Woefully, the asset also dropped down hard from these levels but sustained above $0.88 and now attempting hard to rise back above $1.
| Short Term | Buying volume is slowly getting accumulated and hence the price may maintain a notable uptrend until the present day’s close which may include minor pullbacks |
| Mid-Term | In the mid-term, the selling pressure is easing now and a huge bullish rally may be witnessed henceforth. Therefore, the BAT price may continue heading towards the North. |
| Long-Term | Conversely, the long-term forecast is a little bearish. The buyers appear to have relaxed a little and hence the sellers may soon jump in to extract their profits. Therefore a huge possibility of the asset entering a small correction is pretty high. |
Basic Attention Token(BAT) Technical Indicators & Pivot Points
Technical Indicators
| Technical Indicators | Value(1Hr / 1D) | Action(1Hr / 1D) |
| Relative Strength Index(RSI) (14) | 54.4 / 50.9 | Neutral / Neutral |
| MACD(12,26) | -0.002 / -0.028 | Sell / Sell |
| Average Directional Index(ADX)(14) | 35.5 / 32.3 | Buy / Buy |
| Average True Range(ATR)(14) | 0.0116 / 0.0593 | Less Volatility / Less Volatility |
Pivot Levels
| Pivot Levels | Short-Term | Long-Term |
| Moving Average(MA)-50 | $0.9369 | $1.03 |
| Moving Average(MA)-200 | $0.8866 | $0.9210 |
| Resistance | $0.9908 | $1.1175 |
| Support | $0.8831 | $0.7298 |
Summary
The rally is pretty bullish in both the time horizons as most of the indicators are pointing towards a buy signal. The resistance in both the time frames is neutral and hovering in the middle ranges and manifesting possibilities of diverting towards the south. While the MACD is showing ease in the buying pressure and hence may experience a slight pullback.
On the other hand, ADX and ATR both are following a declining trend in the short-term, displaying less volatility and weakening strength in the rally. However, a similar scenario is seen in the long term too. Yet the bulls appear to be extremely strong in both the time frames as the bull-bear power is in favor of bulls.
The BAT price is testing one of the crucial resistance levels at 200-day MA in the long term where-in a tough fight between the bulls and the bears is seen. Yet the possibility of a small-time rejection is high as the asset has already been rejected at the 50-day MA in STF. The asset needs to clear these two levels at the earliest and head towards the resistance in both the time frames.
Basic Attention Token(BAT)/USDT Technical Analysis for the Week
BAT price ever since the beginning of 2022 failed to maintain the $1 mark and despite multiple attempts dropped down below these levels. No doubt the asset acted quickly and prevented drowning further, yet the bears are leaving no stone unturned to limit the price at the current levels. Presently, the asset is hovering around levels that are pretty deciding and the next move may be pretty conclusive.
Source: Tradingview Date: 09-02-2022 Time: 1:30pm
- The price after falling by more than 33% quickly flipped and surged with a very minor margin
- The surge may still not be certified as an uptrend, as it is hovering within a parallel channel where-in the price is testing the resistance and support levels at regular intervals.
- Yet from the past couple of days, the asset is maintaining within the upper bands and currently testing the middle bands of the channel showcasing both the possibilities of the price rising towards the resistance and also plunging back to support levels
- As the technicals suggest, the BAT price may eventually surge high and is also expected to slice through the parallel channel to hit $1.1 levels very soon
Basic Attention Token(BAT)/USDT Technical Analysis for Today: 09 February 2022
The asset began the monthly trade with consolidation and further lost grip over the trend and plummeted below $0.8 levels. However, the asset maintained a strong uptrend for the next couple of days which dragged the price close to $1. Woefully, the previous day trend which was pretty bearish, the BAT price also scrambled down below $0.9 for some time. Currently, the asset is attempting hard to regain levels above $1, which is expected to happen anytime from now.
The Basic Attention Token(BAT) price at the press time is $0.9271 with a drop of just 0.81% compared to the previous day’s close. However, the trading volume and the market cap also stood plunged by 1.93% and 0.59% respectively. The price is recovering the losses incurred in the early trading hours and hence the drop may soon be flipped into notable gains.
Where & How to buy Basic Attention Token(BAT)
CoinDCX is the best platform if you are planning to invest in your favorite cryptocurrencies. Being the most secure and reliable brand, CoinDCX aims to revolutionize the crypto market in India. And hence the user base is expanding every new day and today smashed a milestone of 10 million(1 Crore).
Registering on CoinDCX is very simple, just download the CoinDCX Pro App on your smartphone and enter the required details. Once your bank details are verified, then you can fund your wallet and purchase your desired token.
Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information, or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment, or tax advice by the reader. The calculations, data, risk-return formulations, performance, or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors, or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.
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