Home Crypto Crypto Market Analysis Basic Attention Token Remains Bullish

Basic Attention Token Remains Bullish

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Basic Attention Token (BAT)

Market Cap: $377.29M

Circulating Supply: 1B BAT

Max Supply: 0 BAT

Volume (24h) $5.03M

 

BAT/USD plunged in the last hours and could invalidate a further increase. However, I want to show you a great buying opportunity only if this will be a false breakdown below the lower median line (LML) of the ascending pitchfork.

The rate has it into a corrective phase on the short term after the impressive upside movement. Price has found a strong demand right above an important support area. Right now you should stay away because this could be only a temporary rebound and the rate could drop and could take out the support area.

Basic Attention Token Price Prediction



 

BAT/USD has made a false breakdown below the 50% and below the 61.8% retracement levels. It has increased and has closed above the 38.2% retracement level and above the lower median line (LML) of the ascending pitchfork. A false breakdown below the LML followed by a retest will signal a further increase in the short term.

However, you should know that the rate could take out the support from the outside sliding line (SL) if it will close on it, and will invalidate a further increase.

Conclusion

The perspective will remain bullish as long as the rate stays above the SL of the ascending pitchfork. We may have a buying opportunity only if the rate will stabilise above the 38.2% retracement level and above the LML. The first major upside target will remain at the median line (ML).

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