Balancer and Basic Attention Token prices are trickling lower. BAL is bullish above $0.15, while BAT may swing to $0.95 if bulls break above $0.80.
The DEX and launching pad on Ethereum and other high throughput blockchains depend on BAL for governance.
The Balancer token is tracking lower, recoiling from recent highs in a correction.
BAL technical analysis reveals that the coin is retesting a key support line at the time of writing.
This line flashes with the 78.6 percent Fibonacci retracement level of the recent swing high and low, shaving three percent.
Although Balancer crypto traders are hopeful of a turnaround, sellers are in control, reading from price action in the daily chart.
For instance, the middle BB—the 20-day moving average—is the immediate resistance level.
A close above the dynamic liquidation line and $23 may rejuvenate exhausted buyers.
On the flip side, a free-fall below $18 would fast-track the dump towards $15.
There are series of lower lows clear in the daily chart, signaling correcting prices.
While sellers are in control, support above $18 may offer a lifeline for Balancer crypto buyers hoping for trend resumption above $23.
A close above the immediate resistance level may see the token rally towards $15.
Meanwhile, BAL may crater if $18 fails to tame resurgent bears.
The project aims to change digital advertising using the blockchain by fairly rewarding users for their attention through the Brave Browser. BAT is the platform's currency.
The Basic Attention Token (BAT) is stable at writing, adding two percent on the last trading day.
Even so, BAT crypto prices are in an uptrend, previously rebounding from the 78.6 percent Fibonacci retracement level of the swing high and low.
The immediate support lies at $0.60.
Technically, BAT token sellers have the upper hand as per the BAT technical analysis in the daily chart.
Bear bars are aligning along the lower BB, signaling strong downside momentum.
However, the reaction at $0.60—if bears succeed—completing a retest—would shape the immediate term resistance.
On the reverse side, gains above $0.80 and October 2021 may see BAT buyers flow back, thrusting the BAT coin higher.
The path of the least resistance is bearish at the time of writing.
However, if BAT prices find support from spot rates in a swing above $0.80, bulls could thrust the coin towards $0.95 and September highs.
For this reason, risk-averse traders can wait for trend definition and break above October highs before ramping on dips.
Steady losses below $0.65, on the other hand, may cancel BAT bulls' prospects.