Basic Attention Token price: $0.197 Key BAT resistance levels: $0.214, 0.25, $0.30 Key BAT support levels: $0.157, $0.13, $0.105

*Price at the time of writing

BAT price long-term outlook: Bearish

Basic Attention Token is correcting a gain of 8.59% over the last 24 hours, causing the token to trade at around $0.197 at the moment. Since our previous BAT analysis, the price has continued to roam in the falling wedge pattern which the BAT market has been carving since April.

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How to buy Basic Attention Token on Binance

Having smashed the immediate resistance, the important support and resistance levels are still very much intact as we pointed out previously. After establishing support around $0.157 on August 15, the token has nicely paced up to $0.214 before a slight drop.

With the current price gain, the BAT price is likely to climb higher to meet the upper trend line. The key resistances to watch out for lie at the $0.214, $0.25 and $0.30 levels. If the market pulls back, the token may slip to the $0.157 support before rolling to the long-term supports at the $0.13 and $0.105 levels.

We can see the bigger picture on the Stochastic RSI with a bearish crossover signal, suggesting a potential price drop. However, the RSI is steadily rising back after testing the oversold area – a cross above the RSI 50 should confirm the buy signal.

BAT price medium-term outlook: Bullish

Following the past two weeks of price action, Basic Attention Token now appears in an upward range after making a trend reversal in mid-August. As we can see on the 4-hour chart, BAT is now trading in a rising channel formation. This shows that the bulls are stepping back.

The BAT price is now displaying a positive climb after a quick bounce after from the channel’s lower boundary yesterday. The $0.20 and $0.22 levels may play out if the buyers remain in control. On the other hand, a price fall is likely to hit $ 0.18, $0.17 and below.

A look at the RSI reveals a positive move for the token, now slightly dropped. A further climb is likely to bring the market to the important resistances. BAT trading has reached the highest condition on the Stochastic RSI which indicates a possible pullback for BAT before a bullish continuation.

BAT price short-term outlook: Bullish

On the hourly time frame, the price of Basic Attention Token has seen substantial growth in the past 24 hours and has been trending in an ascending broadening wedge over the past few days. The $0.20 level has been rejected and now the token is looking for close support before the positive move can be continued.

The closest key area for a pullback lies at the $0.185 support before the buying pressure resume back at the $0.20, $0.21 resistances and above. If the mentioned support fails to produce a rebound level, the $0.175 support may be retested. As it appears, the bulls are more likely to step back.

Currently, the BAT price has seen a sharp drop after meeting the RSI 70 level. If the token continues to drop, the 50 level might provide support for the market. Conversely, BAT is rolling back to the oversold region on the Stochastic RSI.