Basic Attention Token Price: $0.30 Key BAT Resistance Levels: $0.4, $0.45, $0.5 Key BAT Support Levels: $0.25, $0.2, $0.1.5

*Price at the time of writing

BAT price long-term trend: Bullish

While Bitcoin continues to gain market dominance, most top altcoins are losing momentum and retracing to solid support levels. Accordingly, BAT nears the $0.3 support on a bearish retracement after recording a $0.5 high on April 21.

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How to buy Basic Attention Token (BAT) on Binance

In the last three months of trading, BAT had displayed tremendous gains after rising from $0.1 in early February.

Considering the ascending green trend line as diagonal support, the token is actually in the bullish territory but has been losing the market to the bears for the past three weeks. Meanwhile, it appears that the selling momentum may exhaust on the supporting green line at $0.3, where the price is likely to bounce or break. The actual scenario is revealed on the daily RSI.

If BAT bounces at the $0.3 support, another impulsive move could possibly revisit the previous resistances of $0.4, $0.45 and $0.5 in a subsequent move. On the other hand, breaking $0.3 level might drop the price below the supporting green line, testing $0.25 support and potentially even lower levels.

Currently, the daily Stochastic RSI is reflected at the oversold territory, compounding for a bullish move.

BAT price medium-term trend: Bearish

In the medium term, Basic Attention Token is in a bearish trend. As revealed on the 4-hour RSI, the drop was revealed at the overbought area reversing the trend to the current 30 level, acting as a support for the market. However, the selling pressure is dominant.

Crossing down this level may slump the market to the oversold area, retouching the April 11 support of $0.265. In a retracement, the BAT bulls could meet resistance at $0.375 level before the rally continues. If the bearish retracement turns to a bullish breakout, the $0.42 and $0.46 targets are positioned for the positive move.

The medium-term Stochastic RSI is reflected in a downward direction, waving below the 60 level for the past week of trading. This is an indicator of the ongoing selling pressure in the market. With the structural perspective, BAT market is more likely to follow an upward move after reaching a strong demand zone.

BAT price short-term trend: Bearish

Looking at the bigger picture, BAT maintains a downward movement with a strong selling control as the market falls significantly. As of now, the token is trading at around the $0.30 price level. The huge selling pressure in the market is being accompanied by shrinking volume.

As we can see on the hourly RSI, the price action was revealed at the lower area, respecting the 30 level for the past seven days of trading.

However, the hourly Stochastic RSI is leveled at the oversold region. In case buyers do return to the market a quick resistance at the $0.34 level, where the red-descending trend line lies, is likely to be encountered. Breaking up the trend line could propel the token for a swing high.