Basic Attention Token

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Basic Attention Token (BAT) is decreasing in the short-term, attempting to find support before eventually resuming its upward movement.



BAT had been decreasing underneath a descending resistance line since April 10, when it had reached a then all-time high price of $1.69. It was rejected by the line for the fifth time (red icon) on Nov 25. 



However, BAT broke out the next day and proceeded to reach a new all-time high price of $2.02 on Nov 28.



Even though BAT has been decreasing since then, technical indicators are still bullish. 



The MACD, which is created by short and long-term moving averages (MA), is positive. This means that the short-term MA is moving faster than the long-term average. This indicator is a staple of bullish trends.



While the RSI has generated a bearish divergence (green line), it’s still above 70, which also indicates that the trend is bullish. 



If the decrease continues in the short term, the $1.40 area is expected to act as support.



Chart By TradingView



Short-term movement



The six-hour chart suggests that BAT will decrease at least to the $1.40 support area. It has created a double top, which is considered a bearish pattern, meaning that a decrease would be expected to follow. 



In addition to this, the price created a long upper wick (red icon), a sign of selling pressure, and the RSI generated a bearish divergence. 



Therefore, a short-term downward move would be likely.



Chart By TradingView



BAT wave count



Cryptocurrency trader @Thetradinghubb outlined a BAT chart, stating that it’s likely to increase towards at least $1.25.



Source: Twitter



Since the tweet, BAT has moved above the target and proceeded to reach a new all-time high price on Nov 28.



BAT seems to be in wave four of a five-wave upward move. Wave four is corrective, meaning that BAT is likely to move downwards until it completes this phase. 



There is considerable support near $1.80 created by: 



0.5 Fib retracement support levelPrevious descending resistance linePrevious ascending parallel channel



A decrease to the $1.80 level would also complete a fourth wave pullback, an occurrence in which wave four is completed in a sharp fall prior to the continuation of the upward move. 



After this, another increase would be likely to complete the fifth and final wave.



BAT Chart By TradingView



For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
  The post Basic Attention Token (BAT) Cools Off After Rally to New All-Time High appeared first on BeInCrypto.


Basic Attention Token (BAT) is decreasing in the short-term, attempting to find support before eventually resuming its upward movement.
The post Basic Attention Token (BAT) Cools Off After Rally to New All-Time High appeared first on BeInCrypto.


beincrypto.com

Basic Attention Token (BAT) Cools Off After Rally to New All-Time High

The Metaverse tokens are on the run again. Some of the key news that caught the attention of the crypto investors was ‘bytedance,’ which is the parent company of TikTok, entering into the Metaverse ecosystem. Moreover, the Token’s.com subsidiary ‘Metagroup’ bought a plot of virtual real estate on Decentraland worth $2.4 million. The MANA token has surged around 28.4% in its intraday session.
Key technical points:

The MANA token price obtains dynamic support from the 20-day EMA line
The daily RSI chart line is struggling to keep up with the token’s price action
The intraday trading volume in the MANA token is $6.9 Billion, indicating a 63.4% gain


Source- MANA/USD chart by Tradingview
As mentioned in my previous article on MANA/USD, the token price bounced back from 0.618 Fibonacci retracement level to continue its rally. In this recovery phase, the token provided a great entry long opportunity when the price breached the neckline of the Cup and Handle Pattern in the 4-hour time frame.
The MANA token is now steadily moving north and has even breached the All-Time High of the $5 mark. The token displayed a long bullish candle of 28.4% gain in the last 24-hour, supported by a significant volume activity.
 
The MANA token displays a bullish alignment in the crucial EMAs(20, 50, 100, and 200). Moreover, The Relative Strength Index(74) suggests a positive sentiment among the token buyers; however, the bearish divergence in RSI is still a matter of concern.
MANA/USD Chart In The 4-hour Time Frame
Source- MANA/USD chart by Tradingview
After the correction phase, the MANA token price resonated in a rising channel pattern leading this new rally to higher levels. However, the increasing buying pressure from the crypto investors resulted in a bullish breakout of the channel pattern and the $5 mark simultaneously.
The token is currently retracing back to retest this support, and if the price manages to sustain above them, the crypto traders could get an excellent long opportunity to go long.
 
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The post Decentraland Price Analysis: The MANA Token Breached The All-Time High Of $5; When Can You Buy? appeared first on Coingape.


The Metaverse tokens are on the run again. Some of the key news that caught the attention of the crypto investors was ‘bytedance,’ which is the parent company of TikTok, entering into the Metaverse ecosystem. Moreover, the Token’s.com subsidiary ‘Metagroup’ bought a plot of virtual real estate on...

coingape.com

Decentraland Price Analysis: The MANA Token Breached The All-Time High Of $5; When Can You Buy?

The BAT/USD chart presents the token is still under an uptrend. However, the token price is quite close to the crucial support of $1, and with the current bearish momentum, it poses a good chance to drop below this level. Check out what can be expected next?
Key technical points:

The BAT token forms a descending triangle pattern in the 4-hour time frame chart
The daily RSI line drooping at a greater speed than the price action
The intraday trading volume in the BAT token is $180.7 Million, indicating an 8% loss


Source- BAT/USD chart by Tradingview
Reclaiming the $1 resistance was a crucial step up for the BAT token investors. This rally was triggered at the end of October, significantly increasing the token price by reaching the $1.4 mark. However, the price had to retrace back to retest the new support of $1 and till today its is still hovering near this level.
As per the crucial EMAs(20. 50, 100, and 200), the BAT token still maintains its bullish trend as the price is trading above these EMA lines.
The Relative Strength Index(51) line is steadily dropping to the lower level, indicating the increasing strength of the market sellers.
BAT/USD Chart In The 4-hour Time Frame

Source- BAT/USD chart by Tradingview
This BAT price action suggests an even further fall in the token by forming a descending triangle pattern in the 4-hour time frame chart. The neckline for this pattern is at $0.95, and the token traders could grab a great short opportunity if the price gives a proper breakdown from this bottom support.
The MACD indicators project a bearish momentum in this token, where both its line MACD and signal are moving below the neutral zone.
 
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The post Basic Attention token Price Analysis: The Technical Chart Hints The BAT Token Posses A Threat of Dropping Back To The $0.765 Mark appeared first on Coingape.


The BAT/USD chart presents the token is still under an uptrend. However, the token price is quite close to the crucial support of $1, and with the current bearish momentum, it poses a good chance to drop below this level. Check out what can be expected next? Key technical points: The BAT token fo...

Basic Attention token Price Analysis: The Technical Chart Hints The BAT Token Posses A Threat of Dropping Back To The $0.765 Mark

  Basic Attention Token (BAT) has confirmed the beginning of a new upward movement that could take it to a new all-time high price.
BAT broke out from a descending resistance line on Oct 30, and increased by 43% the same day. The breakout was significant both because of its magnitude and the fact that the resistance line had been in place since the April all-time high. Such breakouts usually confirm that the correction has come to an end. 
After breaking out, BAT managed to reach a high of $1.47 before decreasing. The drop left a long upper wick in place, and the token has been decreasing since.
Therefore, it only caused a deviation above the 0.618 Fib retracement resistance at $1.17, which is still the closest resistance area. 
BAT is now attempting to find support prior to the resumption of the upward movement, which is supported by technical indicators. 
The MACD, which is created by a short- and a long-term moving average (MA), is positive and increasing. This means that the short-term trend is increasing at a faster rate than the long-term one. 
The RSI, which is a momentum indicator, is above 50. This is a sign of bullish momentum that often accompanies upward movements. 
If BAT manages to move above the $1.17 resistance, the next resistance area would be at $1.58, very close to the all-time highs.
Chart By TradingView
Future movement
The shorter-term six-hour chart shows that BAT is currently at a confluence of support levels at $0.95. This area coincides with both the 0.618 Fib retracement support level and the previous resistance area, which will now potentially act as support. 
However, there are no bullish reversal signs in place nor is there a bullish structure visible.
Chart By TradingView
The shorter-term two-hour chart shows that BAT is following a descending support line. Similarly to the six-hour chart, there are no reversal signs in place. 
If the token breaks down from the support line, the next support area would be at $0.81. This is the 0.786 Fib retracement support level and a short-term horizontal support area.
Chart By TradingView
BAT wave count
Cryptocurrency trader @TheTradingHubb tweeted a BAT chart, stating that the token has begun wave three of a five wave upward movement.
Source: Twitter
Since the tweet, BAT has already initiated a sharp upward movement. It does seem to be in wave three (orange), which is the sharpest of the five waves. The sub-wave count is given in black. 
The current decrease is most likely part of a fourth wave pullback, in which a sharp drop is followed by a similarly sharp upward movement that completes the fifth and final sub-wave. 
A fourth wave pullback usually touches the resistance line of the previous parallel channel, which in this case coincides with the previously outlined $0.81 support area. 
Therefore, that would be likely to be the low if BAT resumes its descent.
Chart By TradingView


For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.



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  The post Basic Attention Token (BAT) Breaks Out From 204 Day Resistance Line, Holding $1 Area appeared first on BeInCrypto.


Basic Attention Token (BAT) has confirmed the beginning of a new upward movement that could take it to a new all-time high price.
The post Basic Attention Token (BAT) Breaks Out From 204 Day Resistance Line, Holding $1 Area appeared first on BeInCrypto.


Basic Attention Token price	$1.54
Low - High 24H	$1.54 - $1.66
Market cap	$2.30B
Volume 24H	$618.40M
All time high	$1.90 -19.01% November 28th 2021
All time low	$0.072394 2026.15% July 16th 2017
Genesis date	N/A

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