foxperiodical

BAT Token Price Analysis: Bears on the driving seat, Hopelessness surrounding Bulls! 

  • BAT price is failing to break resistance, price entering the bear’s territory. 
  • BAT might witness more red days considering the Oscillators. 
  • BAT/BTC is trading at 0.00001520 BTC with an intraday change of -3.00% while the BAT/ETH pair is trading at 0.0002222 with an intraday change of -0.27%.
Tradingview

BAT Price is currently trading below all the significant 50, 100 and the 200 day moving averages. This is an indication of the price being in the bear’s territory. The Price earlier failed to break and sustain above the immediate moving average 100. If this trend continues, we might see BAT bleed more in the near future.

Tradingview

The Moving Average Convergence Divergence (MACD) is also suggesting bearish momentum. The MACD line and the Signal line are both below the Zero line and the MACD line is below the Signal line hence creative red bars in the histogram. The bears are getting active and we might witness a fall in price. 

Tradingview

The Relative Strength Index (RSI) is also below the normal zone which means that the sellers are getting active. The RSI line tried to approach and break the normal zone which it failed and experienced selling pressure. Now, as we see the  RSI heading downwards, this may take the price of BAT further down. 

Tradingview

The Fibonacci indicator is suggesting an immediate support at $0.5926 price level. The $0.4681 level will also act as support, if the price breaks down. The resistance levels indicated by the Fibonacci indicator are $0.7319, 0.7942, $0.8828 price levels.

NOTE: The moving average 50, 100 and 200 are in colour Yellow, White and Red. 

The MACD line is coloured Blue and the Signal line is coloured Red. 

The important support and resistance levels to keep an eye on are: 

SUPPORT: $0.5926, $0.4681

RESISTANCE: $0.7319, 0.7942, $0.8828

TAKEAWAY: With all the technicals mentioned above, BAT Price may witness a plunge in the near future if it fails to hold the support levels mentioned above.

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