Basic Attention Token price: $0.197 Key BAT resistance levels: $0.205, 0.25, $0.30 Key BAT support levels: $0.157, $0.13, $0.105

*Price at the time of writing

BAT price long-term trend: Bearish

Since our previous analysis on Basic Attention Token, the price action is yet to make a significant bullish move - instead, the token continues to correct its losses. Following the swing low from $0.5 in April, BAT has seen a strong decline and yet to get out of its downtrend. This suggests a strong bearish control for the BAT market.

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Over the past few days, BAT was subdued with choppy price actions, making the market indecisive at the moment. Meanwhile, the token saw a bounce at the wedge’s support on August 15. We may see a climb to $0.205, $0.25 and $0.30 resistance if the market shows strength.

If the BAT price continues to roam along with the wedge’s lower boundary, the market will keep heading to the $0.157, $0.13 and $0.105 supports, meeting the February low. As revealed on the daily chart, BAT’s volume is fading off.

Similarly, MACD has remained in the bearish zone, indicating the bears are still in the market. The RSI is aiming higher but the signal is yet to be confirmed.

BAT price medium-term trend: Bearish

Basic Attention Token is still looking bearish on the 4-hour time frame, although the price is attempting to break away from the descending trend line (white), acting as a pennant resistance since July 26. Looking at the price action in the last 24 hours, it appears the buyers are turning active. For now, we are yet to see a significant rise. However, the BAT price is currently flagging at $0.187.

The token's short term prospects have likely been bolstered by a recent listing on the popular Kraken cryptocurrency exchange.

If the price continues to climb higher above the descending trend line, the $0.20 resistance may come into play. A further climb could propel the market to $0.22, $0.24, $0.26 and above. Meanwhile, the BAT market may fall back at $0.17, $0.15 and beyond if the volatility subdues.

The token found support at the RSI 30 and as we can see the bulls are showing up as the trend keeps rising to the highest level. The MACD is now suggesting a buy signal, although it is yet to confirm a crossover.

BAT price short-term trend: Bullish

Looking at the bigger picture, Basic Attention Token is turning bullish on the hourly time frame. After meeting support at the channel’s lower boundary, the price of BAT has been increasing over the past 24 hours, a positive sign as the market gains strength. Overall, BAT is currently up by 8.18% on the day.

The 32nd largest crypto on the market is now holding a $240 million market cap valuation along with $34 million in trading volume. If the above BAT statistics keep increasing, the price could hit $0.20 before breaking to the $0.21 resistance and above. However, a rejection at the channel’s upper boundary could roll the price back to the $0.18 and $0.17 supports.

BAT currently meets a solid resistance at the RSI 70 level, revealing a possible bounce down. Now that the MACD has crossed to the positive, we can expect strong buying pressure.