Basic Attention Token (BAT) Reclaims Short-Term Support After Deviation Below It

Basic Attention Token (BAT) Reclaims Short-Term Support After Deviation Below It
фото показано с : beincrypto.com

2022-6-18 16:30

Basic Attention Token (BAT) bounced at a long-term horizontal support level and broke out from a shorter-term resistance line afterward.

BAT has been falling since reaching an all-time high price of $1.92 in Nov 2021. The downward movement has so far led to a low of $0.25 on June 13. This amounted to a drop of 86% measuring from the all-time high.

More importantly, it caused a breakdown from a long-term ascending support line which had been in place since the March 2020 low. Prior to the breakdown, the line had been in place for 777 days. 

Afterward, the price bounced at the $0.265 horizontal support area. The area had acted as resistance throughout 2019 and 2020 and has now seemingly turned to support. Furthermore, it is the 0.618 Fib retracement support level when measuring the entire upward movement, increasing its validity. 

Additionally, the RSI has fallen below 50 (red icon), another sign of a bearish trend.

BAT/USDT Chart By TradingView Potential bounce

The daily chart supports the possibility of a bounce. 

Firstly, the price has broken out from a descending resistance line that had been in place since the beginning of April. Afterward, it validated it as support. 

Secondly, the RSI has both broken out from a descending resistance line and generated bullish divergence (green line). This increases the legitimacy of the price breakout. 

If the upward movement continues, the closest resistance area would be at $0.52. This is the 0.382 Fib retracement resistance level when measuring the entire downward movement.

BAT/USDT Chart By TradingView

The six-hour chart shows that the price has reclaimed the $0.315 horizontal area after previously deviating below it (red circle). Such deviations are often followed by bullish trend reversals. 

The RSI movement above 50 (green circle) also supports this scenario.

BAT/USDT Chart By TradingView BAT wave count analysis

Cryptocurrency trader @thetradinghubb tweeted a chart of BAT, stating that the price has begun a short-term upward movement. 

Source: Twitter

The short-term count supports the deviation scenario, since it indicates that the movement that caused it is either an A wave or the beginning of a new upward movement. 

In the case it is an A wave, it would mean that the price is currently in wave B. Afterward, an upward movement that has at least the length of A would be expected. 

While the exact high depends on the low of wave B, an increase that takes the price towards $0.43 would be expected.

BAT/USDT Chart By TradingView

For Be[in]Crypto’s latest bitcoin (BTC) analysis, click here

The post Basic Attention Token (BAT) Reclaims Short-Term Support After Deviation Below It appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Lendroid Support Token (LST) на Currencies.ru

$ 0.00049 (+0.76%)
Объем 24H $0
Изменеия 24h: 5.17 %, 7d: -58.34 %
Cегодня L: $0.00049 - H: $0.00049
Капитализация $0 Rank 3554
Доступно / Всего 0 LST

support token bat basic deviation below short-term

support token → Результатов: 126


WatchData API suite adds support for for Bitcoin and BSC blockchains 

TheWatch, a technology company making blockchain accessible to developers, has announced it added BSC and BTC blockchains to its flagship product WatchData. They’ve also introduced ‘Filters’ to allow users to set up custom notifications and track the transaction they need and ‘Price API’ to get accurate token prices from the blockchain.

2022-6-4 22:15


Фото:

CULT DAO Prepares for Revolt 2 Earn (RVLT) Token Airdrop and Gains Anonymous Group Recognition

CULT DAO, one of the projects pushing for faster adoption of decentralized finance, revealed plans for a Revolt 2 Earn (RVLT) token, which earned the awareness of Anonymous. According to the group’s recent Twitter bio, the collective known for its hacktivist activity seems to appreciate the upcoming concept. This alleged support does not come as […]

2022-5-9 15:56


Фото:

Hoskinsea Marketplace Announces Launch Of The HSK Token Seed Sale

Hoskinsea Marketplace is thrilled to finally announce the launch of the HSK token seed sale after numerous hours spent optimizing its products and project development. Overwhelmed by the outpouring of support and enthusiasm from the community and beyond, the NFT Marketplace recently completed a private sale with an incredible group of investors, resulting in a […]

2022-5-6 14:32


Фото:

Blockchain Gaming-Focused Incubator Seedify Set To Launch New Features And Utilities For Its Token

Seedify, a blockchain gaming-focused incubator and launchpad ecosystem, is on a mission to bring the opportunities within GameFi into the global market while helping increase adoption. Seedify seeks to provide curated Initial Game Offering (IGO) through its platform that offers support to blockchain games to help them reach crowdsourced funding. Seedify also aims to help […]

2022-3-21 18:44


MetaOneVerse announces a token using Web3 technology

MetaOneVerse, an exciting token for the Web3 space, is set to introduce new features and functionalities for users; learn more about them below. MetaOneVerse: An Important Player MetaOneVerse is more than just a project with a hard-to-pronounce name; it is a HyperDeflationary token and full-stack system with support for blockchain, play-to-earn games, NFT marketplaces, Metaverse […] The post MetaOneVerse announces a token using Web3 technology appeared first on NFT News Today.

2022-3-19 05:43