Basic Attention Token (BAT) Price Analysis: BAT Coin Price Falls Below The Support Level Of $0.15

  • BAT crypto price is having an overall loss of -1.78%, After facing major price corrections and breaking the support level of 0.15, BAT has shown signs of bearish momentum in today’s market.
  • However, the pairs of BAT/BTC and BAT/ETH are performing positive with an overall gain of 0.60% and 0.15% respectively which can be a positive sign for the altcoin.
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Source: Coinmarketcap

The 7-day weekly chart shows the price corrections faced by the altcoin which brought the price level from $0.15 to the major support level of $0.12. The crypto asset has now shown positive movements for avoiding any further downfall below the major support level.

An upward movement from the major support level indicates that BAT still has the potential to build a sustainable bullish momentum in upcoming days. The altcoin started the year with the price level of $0.18 and went to year-high of $0.30 before facing major downtrend in the cryptomarket

Over the past few days, BAT crypto price is moving between the price range of $0.10 and $0.15. A break below the price level of $0.15 indicates that the altcoin has might just open up vulnerability to reach the critical support area of $0.10. However, the overall downfall in the market doesn’t look much significant and can avoid any further significant downfall looking at the price recovery the market was making for past two days.

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Source: Tradingview

The technical chart represents the bearish momentum faced by the altcoin from the previous month which is followed by the price recovery. However, BAT has started to signs positive momentum which can be seen at the tip of the downtrend line.

The technical indicators and oscillators also favor bullish momentum. MACD levels are finally reaching the bullish zone after remaining in the bearish zone. However, RSI dropped to the level of 55 but strongly favors BAT bulls. CCI also had negative divergence from the overbought region which indicates that the altcoin can have a sustainable and long-term bullish momentum in the cryptomarket

Resistance level: $0.15 and $0.20
Support level: $0.12 and $0.10

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