Basic Attention Token [BAT] Bullish While Market Consolidates

2018-10-30 19:09

Analysts online have been bullish about Basic Attention Token, BAT. The Ethereum-based token which seeks to disrupt the digital advertising space has been appreciating since the listing of 0x Project to Coinbase Pro. The projects hold some similarities with both being based on the Ethereum blockchain, and analysts anticipating that BAT has a strong chance of being listed to Coinbase Pro in the future.

Price has increased from a low of $0.15 on the day the listing of 0x Project was officially announced to trading near $0.25 in today’s price. Price reached highs of $0.3 earlier in the month but has since started to retrace.

BAT Daily Chart – Source: TradingView.com

Price has been appreciating significantly today as the discussion around the prospects of BAT increase. Price action reached an intraday high of $0.26 earlier today but has retraced to $0.24. Price action has been on significant volume despite much of the cryptocurrency market consolidating on low volume.

BAT Hourly Chart – Source: TradingView.com

The bullish movements of BAT may not be sustained if the cryptocurrency market takes a downward turn. To gauge the overall market, it is advisable for traders to monitor the price action of the market leader Bitcoin. Bitcoin currently represents over 54% of the total market capitalization, and its movements have a significant impact on those of altcoins. Bitcoin has been consolidating on low volume for the past two weeks but made some bearish movements yesterday.

Bitcoin Daily Chart – Source: TradingView.com Key Takeaways: BAT has been outperforming since the listing of 0x Project to Coinbase Pro. BAT moved from $0.15 to a monthly high of $0.3 but has since retraced to $0.24. BAT is making more bullish movements today as the discussion around the project increases. It’s important for traders in BAT also to monitor market leader Bitcoin as its movements can have a significant impact on the altcoin market.

Basic Attention Token [BAT] Bullish While Market Consolidates was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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token bat basic attention bullish blockchain consolidates

Источник: blokt.com

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