BAT price analysis 7 June 2019; Following a bullish run for $0.4

BAT price 22 may

The BAT had a relatively good performance over the course of Spring 2019, in April it nearly managed to reach its all-time high, but stopped dead at the $0.41 price point.

Now, after suffering from a large bearish market for more than a couple of days, the coin is starting to rise again and may come knocking at the $0.4 once again by the end of June.

At the moment of writing this article, the coin is well supported by the $0.30 price point and gearing up for a $0.35 resistance level, but the future doesn’t really look bright for BAT, unfortunately.

BAT price chart

BAT chart by Trading View

The near future looks quite bearish, but it’s not likely to fall below the $0.3. Even if Bitcoin manages to pass the $8000 once again the BAT simply does not have the strength and support to follow it anymore.

It’s most likely that Facebook’s Global Coin is going to overtake BAT’s whole idea if it introduces payment options for Facebook ads. If this happens, the BAT basically loses its whole value as a coin and would fall through immediately, but that’s a call for the bulls and not the bears.

Once Global Coin’s true description is available and delivered by Zuckerberg himself, it is most likely that BAT will lose around 30% of its market capitalization due to depreciation and will fall back down to around $0.2.

However, that will not be an end to the coin as bulls will definitely start pushing it once Global Coin stops being in the centre of attention.

Should the $0.30 support level be broken the BAT will most likely not handle it in the long run.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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