BAT Technical Analysis: Price Fallen Below the Support Level of $1.51
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BAT Technical Analysis: Price Fallen Below the Support Level of $1.51

April 10, 2021      Ankita Awasthi

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:

Past Trends

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.

BAT Price Analysis

https://www.tradingview.com/x/Bm6hjb1p/

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.

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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.

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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.

#Basic Attention Token #BAT
Ankita Awasthi
Ankita Awasthi

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.