- The BAT price is expected to have a bullish behavior.
- After a certain consolidation between its 50 EMA and 100 EMA levels, the BAT price is now trading above its 50 EMA and 100 EMA.
- BAT price is expected to have further consolidation and retracement.
The Basic Attention Token (BAT) is a form of digital currency that is used to measure the worth of attention. It is based on the incremental duration and the number of pixels viewed for any applicable advertising material. Future quantification and monetization of user behavior connected to digital advertising are the goals of the BAT system.
BAT: A Consistent Bullish Trend
The current trading price of BAT is $0.222, up by 3.64% on intraday trade. It has increased by nearly 23% over the past month. The 24-hour volume traded in the Basic Attention Token currency stands at 1.24 Million.
By looking at the present scenario, it can be said that the currency has been on a steady rise and has performed consistently. The channel pattern in the above chart shows the behavior of the BAT price over the past two months and it seems like it will continue this trend.
Exponential Moving Average (EMA) and Moving Average Convergence and Divergence (MACD)
By looking at the 50, 100, and 200 EMA levels in the chart, the token is currently trading above its 50 and 100 EMA levels. Previously, when the token picked up pace from its support level, one can see that following an up-trend, it took a rejection at its 100 EMA and then went into consolidation between 100 EMA and 50 EMA levels.
In the current scenario, the BAT price may get a rejection at 200 EMA, then it might again move in consolidation. However, in the long run, the BAT price is expected to have a steady rise as buyers are trying to move its EMA levels up.
By looking at the MACD (12 and 26) curve, in the month of June, there was a strong convergence and it led to a good increase in the price. At present, both the lines are very close to each other, hence indicating a neutral behavior in the price.
Relative Strength Index (RSI)
If we look at the RSI indicator, it is currently at 63.69 and is trying to enter the buying zone. It may get into the overbought zone and that will lead to a further rise in the price if the buyers establish good control, or else, it may stay in a neutral zone, depending on the activity in the market.
Conclusion
Overall, the price of the Basic Attention Token is expected to have a positive outlook in the long run, as it has performed very consistently by having good retracement levels and trends over time. However, for some time, one may expect a consolidation in the BAT price till it forms a further retracement or break-out at its 200 EMA levels.
Technical Levels
- Resistance levels: $0.262 and $0.295
- Support level: $0.20 and 0.17
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.