The Basic Attention Token (BAT) is a digital asset for the new web economy. It aims to introduce more efficiency in the digital ad industry and minimize privacy violations therein. Users can anonymously watch ads and earn BAT tokens. Creators can earn BAT tokens for churning out innovative content too. BAT technical analysis is as follows:
On April 3, 2021, BAT started trading at $1.21. As of April 9, 2021, the closing price was $1.54. Thus, in the past week, the BAT price has increased by approximately 27%. In the last 24 hours, BAT is trading between $1.49-$1.62.
Day-Ahead and Tomorrow
Currently, BAT has started trading at $1.52. The price has decreased from the opening price of $1.54. Thus, the market looks bearish.
The MACD and signal lines are negative. However, a bullish crossover by the MACD line over the signal line has occurred. Thus, we can expect some price adjustments amidst an overall negative trend. The price may rise for some time before falling again.
The OBV indicator is falling. Thus, selling volumes are higher than buying volumes. Hence, we can expect the price to go down further.
Currently, the RSI is at 39%. It faced rejection at 53% and fell to the current level. Thus, selling pressures are very high. Heavy offloading activity will lead to a further price drop.
BAT Technical Analysis
As per technical analysis, the price has fallen below the first Fibonacci pivot support level of $1.51. As the bearish forces are still strong, we can expect the price to fall below the subsequent support levels of $1.48 and $1.43, respectively.
The price has tested and fallen below 23.6% FIB retracement level of $1.52. It may soon fall below the 23.6% FIB extension level of $1.45. As the bears look strong, we can expect the price downtrend to continue today as well as tomorrow.