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BAT Price Analysis: The Bears lead the marketers’ path

Cryptocurrency


The Basic Attention Token or BAT- a token for a blockchain-based ad platform ranks 30 according to the stats of Coinmarketcap. The price of BAT at the press time was $0.24217 with a market cap of $328 million and a 24-hour trading volume of $49 million.

2 Hour Chart

Source: BAT / USD TradingView

The short term chart exhibited an uptrend extending from $0.2202 to $0.2296 and a downtrend extending from $0.2723 to $0.2607. The resistance was at $0.2479 and the support was held at $0.2323.

The Bollinger Bands had begun to travel parallel indicating that the volatility reached a neutral state.

Chaikin Money Flow: The CMF line was under the zero line suggesting that the outflow was more than the inflow of the capital placing the coin in the bearish market.

The MACD line was under the signal line indicating that the coin was under a bearish trend at the time of writing.

1 Day Chart

Source: BAT / USD TradingView

The daily chart showed an uptrend extending from $0.1333 to $0.2268 without any noticeable downtrend. The resistance was at $0.2405 while the support was held at $0.1884.

Parabolic SAR: The dotted line below the candlesticks was going up indicating that the coin was under a bullish market.

The Awesome Oscillator showed that the red bars were gaining momentum to place the coin in the bearish market.

Relative Strength Index: The RSI line was just above the 50-line indicating that the buyers were more active in pushing the coin to the bullish market.

Conclusion

The BAT coin was experiencing a bearish sentiment at the press time but since other indicators suggested that the coin was in the bullish market, a breakout can be expected soon.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.