News

Not long ago we reported that the Brave browser, which is fueled by the Basic Attention Token for its advertising economy, has hit new records with 10 million downloads on Android.

CEO of Brave and the Founder of BAT is the Brendan Eich who also co-founded Mozilla.

Recent news included the partnership with Civic for offering Secure Identity Verification on the Brave Publisher Network.

Probably the biggest fundamental factor in the rise of BAT is the fact that Coinbase published a blog post back in July, where they exploring the addition of several new assets. BAT has made this list and just recently ZRX was added to Coinbase, which also was present on the same list. This means that BAT could be possibly a near future addition for the major U.S.-based regulated exchange.

Charts

The BAT/BTC chart shows us several bullish factors that could contribute for the project’s next bull cycle. Firstly, the price broke out from a multi-month falling trend before moving further up. Secondly, the MACD indicator has achieved a bullish cross on the daily chart, while the price broke upwards from a rising wedge, which is usually a rather bearish chart pattern. This coupled with the high volume that the breakout candle produced means that the bulls are back to the market.

The price action is seemingly forming a cup right now, the spike may have been denied from further rise at a previous support zone that acts like a resistance right now. We expect a short consolidation that might form a handle and complete the Cup & Handle pattern before moving upwards.

The BAT/USD chart also shows us bullish price actions, starting with the break-out from the 6+ month downtrend and a bullish MACD cross.

We are expecting a re-test of the trendline on the short term before moving on to a bullish cycle.