Basic Attention Token Price $0.386 Key BAT Resistance Levels $0.40, $0.43, $0.45 Key BAT Support Levels $0.36, $0.34, $0,32 $0,30

*Price at the time of writing

Basic Attention Coin has seen a rough 24 hour period where price action has fallen by 10%. The market is currently trading at a price of around $0.3961. Despite the recent decline, BAT has seen a superb price increase over the past 30 days which totals over 70%. Furthermore, BAT has seen an extremely impressive 90 day run in which the coin has increased by over 200%.

The 23-month-old project is now ranked in 22nd position amongst the top-ranked cryptocurrencies by market cap value. BAT holds a $479 million market cap value and currently trades at a price that is -55% lower than the previous ATH price.

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BAT Price Analysis

What Has Been Going On?

The great run that BAT has experienced had started toward the end of February 2019 when we can see BAT climbing above the 100 day moving average level, an incredibly strong bullish signal. After breaking above the 100 day moving average, the market continued to climb further higher.

We can see that the market had managed to spike into the $0.50 level, reaching a high not seen since May 2018, before reversing and rolling over. After rolling over, the market then had dropped into support below around the $0.36 level where support was met.

BAT Short Term Term Price Prediction: Bullish

After creating fresh long term highs above $0.50, we can consider the short term trend for BAT to be considered bullish. Even after the recent price decline, we can consider the trend as bullish until price action breaks beneath the $0.35 level.

If the sellers do step back in, we can expect immediate support toward the downside to be located at the $0.36 and $0.35 support levels. Beneath $0.35, more support is then to be expected at $0.3418, $0.32 and $0.30. Beneath $0.30, further strong support is located at the $0.2794 level.

BAT Medium Term Price Prediction: Bullish

In the medium term, so long as BAT manages to break back above the $0.50 level we can expect the medium term trend to be bullish. This combined with the fact that BAT has increased way more than 2x from the bottom (around $0.1) confirms that we have left the previous bearish trend and have entered a bullish trend.

If the bulls continue to climb further higher, we can expect immediate resistance above the market to be located at $0.40, $0.4313 and $0.45. Above $0.45, more resistance is then located at the long term bearish .382 Fibonacci Retracement level (drawn in red) priced at $0.4797. This bearish Fibonacci Retracement level is measured from the ATH in January 2018 to the December 2018 low.

Above $0.48, higher resistance is then be expected at the $0.50 level. The market will require significant momentum and volume to break above the psychological resistance at $0.50. Above $0.50, we can expect more resistance at $0.5190 and $0.5575.

What Are The Technical Indicators Reading?

The RSI has remained above the 50 level for the majority of the past 3 months. The RSI has also recently rebounded close to the 50 level which indicates that the bulls have remained in control of the market momentum, a positive sign for the BAT bulls.