The Basic attention token or the BAT price analysis shows rebound from the previous price with a small increase of 5% in the past 24 hours, leading the cryptocurrency to $0.242 as we are reading in the following basic attention token news.
The BAT price analysis shows that the basic attention token remained strong against Bitcoin and managed to rebound from the support at 2455 SAT and is now ranked in the 31st position since it holds a $347 million market cap valuation. BAT found the next resistance at about $0.31 during February which made the cryptocurrency roll over and starts another fall. It dropped dramatically until the support was met at $0.208 which was provided by the .786 Fibonacci retracement level.
The basic attention token is now facing strong resistance at $0.246 and has to break past it in order to continue climbing higher. Against Bitcoin, BAT was holding pretty strong in the long-term with a 0.5 FIB retracement at 2,455 SAT during the recent downturn. It also rebounded even since and traded at a price of about 2,670 SAT but still faces strong resistance at the 200-day EMA. The Basic Attention Token is ranked at the 31st position holding a $347 million market cap valuation, slowly approaching the VeChain level which was about $344 million market cap value.
By looking at the daily charts above, we can clearly see that the Basic Attention Token was seeing a strong bullish price action in the first 6 weeks of 2020. It later found strong support at $0.17 as it went on to increase the total of about 92% to reach the 2020 high of close to $0.33. BAT later went into another resistance that was provided by a long-term bearish sentiment at .618 Fibonacci retracement level, causing the market to reverse around.
BAT crashed pretty hard and dropped to a total of 38% as it plummeted and broke the support at the 100-day and 200-day EMA, continuing further lower levels to find more support at $0.208 provided by the .786 Fibonacci retracement level. We can now see that the BAT turned around to new highs and went on to break above the 100-day and 200-day EMAs. If it fails to sustain the level, the market will turn bearish.
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