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Basic Attention Token price analysis: BAT prices spikes above $0.862, will the bullish trend continue?

Basic Attention Token price analysis BAT breaks above Correction to follow

TL;DR Breakdown

  • Basic Attention Token price analysis is bullish for today.
  • The resistance level for BAT prices is present at $0.862.
  • Support for BAT prices is present at $0.829.

Basic Attention price analysis shows a bullish trend for BAT prices. It is expected to continue the trend throughout the day. BAT is currently trading at $0.861, an increase of 6.11 percent after a slight dip from the opening price of $0.858. The market capitalization is $1.29 billion, and the 24-hour trading volume is $268 million. Basic Attention Token price analysis reveals that BAT is currently ranking position 69 overall in the entire market while dominating 0.07 percent of the market.

BAT has been on an overall bullish trend over the past few days, with the price reaching a high of $0.862. The resistance level for BAT prices is present at $0.87, and it will be interesting to see if the bullish trend can continue past this point. The support level for BAT prices is current at $0.829, and the resistance level is present at $0.862.

Basic Attention Token price analysis on a 1-day price chart: BAT looks to break higher levels

On the 1-day chart, prices have spiked above $0.862 and seem to break higher in the following hours. The market volatility is high, with the candlesticks opening and closing within a tight range. The moving averages indicate a bullish trend, with the 20-day EMA (blue line) appearing to cross over the 50-day EMA (red line). The BAT/USD market volatility is high as the Bollinger bands are starting to expand.

Basic Attention Token price analysis: BAT prices spikes above $0.862, will the bullish trend continue? 1
BAT/USD 1-day price chart, source: TradingView

The Relative Strength Index (RSI) is 71.8, indicating that the market is in overbought territory. However, a bullish trend is still shown as the RSI has not yet made a lower low. The Chaikin Money Flow (CMF) indicator is also increasing in bullish territory.

The MACD indicator is currently in the positive zone but is close to the centerline, indicating that the current bullish trend may lose some steam in the next few hours. The Stochastic RSI also shows signs of a bearish crossover as it enters into overbought territory.

Basic Token price analysis: Recent developments and further technical indications

The 4-hour Basic Attention Token price analysis shows the token bouncing between the support and resistance levels. The Relative Strength Index (RSI) is currently at 68.7, indicating that the market is overbought territory. The Stochastic RSI is also in overbought territory, but a bullish crossover is still shown as prices are currently trading above the $0.862 resistance level.

On the 4-hour chart, we can see that the MACD indicator is currently in the positive zone but is close to the centerline, indicating that the current bullish trend may lose some steam in the next few hours. The support level is $0.829, and the resistance level is $0.872.

Basic Attention Token price analysis: BAT prices spikes above $0.862, will the bullish trend continue? 2
BAT/USD 4-hour price chart, source: TradingView

The market is expected to continue the bullish trend as long as prices remain above the $0.829 support level. A break below this level could signal a reversal in the current trend. The 4-hour timeframe also shows that the 20-day EMA (blue line) is about to cross over the 50-day EMA (red line), indicating a possible change in trend.

Basic Attention Token price analysis conclusion:

Basic Attention Token price analysis shows an overall bullish trend in the market for the last 24 hours. The market is expected to continue the bullish trend as long as prices remain above the $0.829 support level. A break below this level could signal a reversal in the current trend. The 4-hour timeframe also shows that the 20-day EMA (blue line) is about to cross over the 50-day EMA (red line), indicating a possible change in trend.

The current technical indicators are bullish, so the market may continue to rise in the short term. However, the MACD indicator is close to the centerline, indicating that the bullish momentum may be losing steam. Traders should exercise caution and monitor the market closely for any signs of a reversal.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
joel

joel

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

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