Technical Analysis of Basic Attention Token (BAT)

The Basic Attention Token (BAT) is a cryptocurrency designed specifically for use with the Brave web browser. The Basic Attention Token improves the efficiency of digital advertising by creating a new token that can be exchanged between publishers, advertisers, and users. It pays publishers for their content and users for their attention, while providing advertisers with more in return for their ads. According to some estimates, the Basic Attention Token has a bright future and this cryptocurrency might still be undervalued despite all the problems. In my opinion, this is a highly speculative cryptocurrency and still very risky. The BAT will face a huge competition from other big companies, it is also important to have in mind that Google and Facebook will probably fight to keep its share of the ad market. As long as BAT is below $0.5 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.13 and $0.20 – If the BAT jumps above $0.20 that would be a “BUY” signal and the open way to $0.25. If the BAT jumps above  $0.5 that could be a strong signal of the trend reversal and the open way to $0.8. On the other side, if the BAT falls below $0.13 that will be a strong signal “SELL” signal and the next target could be around $0.10.

Advice: In my opinion, this is a highly speculative cryptocurrency and still very risky, I would invest only a small sum of money in this cryptocurrency. As for the technical picture, the Basic Attention Token remains in bearish phase but if the price advances above $0.20 next targets could be located around $0.25 and $0.30. On the other side, if the BAT falls below $0.13 that will be a strong signal “SELL” signal and the next target could be around $0.10.

 

About Stanko 84 Articles
I am a professional forex, cryptocurrency and stock trader looking for more opportunities to penetrate the field. Writing, research, analysis, are all things I enjoy doing aside from the core trading practice as they provide a deeper perspective of market activity. I am well versed in technical analysis as well as sentiment behavior. I have 10 years experience in stock and currency markets ( analysis and trading), I am also an experienced cryptocurrency analyst. I have been writing business, finance, stock articles for over five years. My biggest strength is in technical analysis

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