Basic Attention Token Price Analysis: BAT looks positive for near future?


  • BAT/USD pair trading below EMA(20).
  • BAT/USD medium term support stood at $0.28.
  • BAT/USD trades near $0.30.
  • The current trading volume of Basic Attention Token is at $23,141,106.00.

03 October 2022 : In this article we will walk you through Basic Attention Token price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Basic Attention Token, Is BAT a good investment? Basic Attention Token support & resistance levels etc. But before diving deep into the BAT technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,115,587,651. The total trading volume stands at $54,833,502,933. Bitcoin shares 39.77 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,547.55 level after an upward movement of 1.86%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.3 percent reaching to $1,326.36 during the previous 24 hours.
While publishing this blog, BNB traded at $288.62, following a price change of 2% within the same time frame. XRP the native coin of XRP is down by -0.52 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.58% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Basic Attention Token Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Basic Attention Token (BAT)

BAT Resistance Levels BAT Support Levels
Resistance Level 1 $0.31 Support Level 1 $0.29
Resistance Level 2 $0.32 Support Level 2 $0.28
Resistance Level 3 $0.34 Support Level 3 $0.26

Basic Attention Token Performance

The daily chart of Basic Attention Token shows that the BAT price has surged up with a 1.32% increase in past 24 hours. The price value of the Basic Attention Token (BAT) coin is standing at $0.30 with market capitalization $448,243,518.00 USD. BAT price changes 0.11% over the week while the trading volume is hovering around $23,141,106.00 USD.

Basic Attention Token Price Analysis

BAT price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Basic Attention Token.

Moving Averages Price Indicator
Simple Moving Average (10) 0.30 Sell
Exponential Moving Average (10) 0.30 Sell
Simple Moving Average (20) 0.31 Sell
Exponential Moving Average (20) 0.31 Sell
Simple Moving Average (50) 0.34 Sell
Exponential Moving Average (50) 0.34 Sell

While BAT’s Williams %R indicator is at -56.534 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The Relative strength index (RSI) for BAT Coin is currently hovering at 48 for 14-days average line, which means BAT is in consolidation zone right now. BAT has a nearest resistance of $0.31. A bullish breakout in this resistance level would boost the uptrend momentum. The buyers could then target the resistance R2 placed at $0.32. Alternatively, if the investors turn against the Basic Attention Token (BAT), the bears might control the market and take BAT price below the crucial support level of $0.29. The BAT/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market.

Conclusions

The Basic Attention Token market is shown signs of being optimistic, and buyers have the potential to drive prices of the cryptocurrency higher in the next few days. The price of BAT is expected to break above its resistance level of $0.31. On the other hand, if Basic Attention Token broke out from the bullish pattern and led its way toward support level of $0.29.