Basic Attention Token has had a turbulent two weeks so far, rising 64% after the recently announced Coinbase Pro listing followed by a rapid 36% decline shortly thereafter. While some believe the decline was a result of the United States SEC shining the spotlight on ERC-20 tokens after fining the EtherDelta exchange, the BAT/BTC chart shows a clear pump on the day of the announcement followed by a significant dump a few days after, both happening within a single hour candle. This is more likely to be the work of a whale trader or co-ordinated group of investors.

Right now, BAT (LON:BATS) appears to have found the bottom of its decline at a point where the 0.382 Fibonacci level (3,807 Sats) meets a second uptrending line that has been a key support for BAT in recent months. Although bears remain in control of the asset at this stage, there are a handful of signs beginning to appear that suggest bulls may be about to fight back and attempt a reversal.

Will BAT be able to recover its losses and pick up where it left off last wee…

This article appeared first on Cryptovest

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