Bitcoin
BTC$43 085.96

-1.06%

Ethereum
ETH$2 995.89

-2.88%

Cardano
ADA$2.19

-2.78%

Tether
USDT$1.000508

-0.01%

Binance Coin
BNB$341.32

-2.13%

XRP
XRP$0.937804

-0.90%

Basic Attention Token (BAT): Its Upside Flow About to be Disrupted


#Basic Attention Token

Despite being one of the most fundamentally sound cryptocurrencies, Basic Attention Token (BAT) hasn't been putting up any significant results in terms of price action lately. The negative 42% against USD on the yearly time frame and only 15% gain over the past 30 days suggests that there is not enough fuel in the BAT market for the price to make any noteworthy strides. However, it doesn't mean that the currency bears no upside or downside potential in general. But for the time being, Basic Attention Token has been lurking in the shadows, not making any headlines or featuring in the 'top gainers' ranks.

Abiding by the ascending channel, for now


When the COVID-19 panic sale made the cryptocurrency market crumble, BAT went along with the rest of the coins, losing 60% of its value in a matter of three days. Like in many other crypto markets, the golden cross on the daily time frame played a cruel joke on traders. In contrast, the death cross that followed worked out to the fullest extent, and every trader knows what happened next, not only to BAT but to the market in general, a total and unhinged capitulation.

Nevertheless, being a solid cryptocurrency with an established pool of sellers and buyers, Basic Attention Token didn't hesitate to begin getting on its feet after the knockout blow. What's fascinating about this currency is how diligently and meticulously it has been making its way to the upside within a picture-perfect rising channel. One doesn't have to be a seasoned trader to make money in such an obedient, pattern-adhering market that features only one relatively erratic move to the upside throughout the past three months.

1-day BAT/USDT chart

Little by little, BAT has been paving its path to the upside, climbing on top of the 50-day EMA to confirm its bullish intentions, and then the 200 EMA, although the latter hasn't been fully mounted yet. It seems that Basic Attention Token could be gliding in such a groovy tempo all the way to the all-time high at $0.98, but the bears seem to have other plans regarding its future price. There are three main factors that suggest the looming reversal of the current mellowy minor uptrend.

Thirdly, the volume profile displays a gigantic spike in bearish volume right after the penetration of $0.23 that later transformed into a big cluster of such volume, which could mean that a lot of traders are going short on BAT.

The analysis of all these factors brings us to the conclusion that traders should brace themselves for a sizable price decrease of no less than 20% in the next two weeks, followed by a consolidation below the 50 EMA. Therefore, if you went long on BAT anywhere above $0.154, now would be a good time to place a stop-loss.

Author: Alex Paulson for Crypto-Rating.com

Related

Basic Attention Token (BAT) Remains All-Around Bearish
Basic Attention Token (BAT) Remains All-Around Bearish
Basic Attention Token (BAT) Awaits Another Bearish Wave
Basic Attention Token (BAT) Awaits Another Bearish Wave
Basic Attention Token (BAT) Backs Off in the Face of Tough Resistance
Basic Attention Token (BAT) Backs Off in the Face of Tough Resistance
Basic Attention Token (BAT): Little by Little, The Price Travels Higher
Basic Attention Token (BAT): Little by Little, The Price Travels Higher
Basic Attention Token Stands at a Crucial Junction
Basic Attention Token Stands at a Crucial Junction
Basic Attention Token: Improvement in Fundamentals Negated by Market Crash
Basic Attention Token: Improvement in Fundamentals Negated by Market Crash
Basic Attention Token (BAT): Nice and Steady Growth
Basic Attention Token (BAT): Nice and Steady Growth
Basic Attention Token (BAT) Price Prediction
Basic Attention Token (BAT) Price Prediction
BAT coin Price Forecast
BAT coin Price Forecast

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 78.4% 36 $43 085.96 -1.06% -0.99% $811 219 237 866 $31 154 347 636
2 Ethereum (ETH) ETH Ethereum predictions 72.8% 51 $2 995.89 -2.88% -0.73% $352 615 203 825 $19 398 346 385
3 Cardano (ADA) ADA Cardano predictions 66.8% 75 $2.19 -2.78% 4.85% $70 222 973 640 $3 116 899 060
4 Tether (USDT) USDT Tether predictions 96% 1 $1.000508 -0.01% 0.06% $68 577 822 872 $71 068 899 614
5 Binance Coin (BNB) BNB Binance Coin predictions 68.8% 65 $341.32 -2.13% -7.03% $57 388 122 424 $1 555 748 368
6 XRP (XRP) XRP XRP predictions 72.8% 49 $0.937804 -0.90% 1.05% $43 811 978 119 $3 027 320 393
7 Solana (SOL) SOL Solana predictions 69.6% 66 $140.97 2.76% 1.92% $41 927 787 826 $2 899 305 540
8 USD Coin (USDC) USDC USD Coin predictions 91.2% 1 $1.000382 0.02% 0.01% $31 131 613 966 $3 198 579 010
9 Polkadot (DOT) DOT Polkadot predictions 68.8% 69 $28.28 -3.69% -2.07% $27 931 334 671 $1 725 163 950
10 Dogecoin (DOGE) DOGE Dogecoin predictions 66.4% 70 $0.203144 -1.88% -4.12% $26 705 464 939 $865 252 649
11 Terra (LUNA) LUNA Terra predictions 67.6% 59 $38.33 7.47% 37.20% $15 331 923 428 $1 698 547 134
12 Avalanche (AVAX) AVAX Avalanche predictions 58.8% 85 $68.09 0.67% 14.92% $14 998 801 484 $1 254 781 240
13 UniSwap (UNI) UNI UniSwap predictions 65.2% 70 $22.95 -6.14% 7.70% $14 034 322 529 $1 164 508 712
14 Binance USD (BUSD) BUSD Binance USD predictions 92% 1 $1.000300 0.02% 0.02% $13 519 244 531 $5 111 421 269
15 Chainlink (LINK) LINK Chainlink predictions 63.6% 70 $23.60 -5.17% -1.55% $10 736 258 209 $1 106 679 987

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.