- The trading volume in the last 24hr at the time of writing this article is -7%
- The price of BAT/BTC and BAT/ETH at the time of writing this article is 0.00001468BTC and 0.0002064ETH respectively
- The price is near the support and 100MA is acting as resistance.
LONG TERM VIEW:-
We look at the daily time interval and we can see the price is near the support and the bulls are trying to push up. Let’s look at the technical indicator, we can see that the MACD is showing the red histogram meaning the MACD line below the Signal line, in addition to that we can see RSI is in the neutral zone near the 40 and is pointing towards the overbought zone (70). Lastly we can see the Moving average as the 20MA has crossed the 50MA in a downward direction as the 20MA is heading towards the 100MA. We can also see the 100MA is acting as a resistance bulls need a huge volume to break the price.
SHORT TERM VIEW:-
In the 4hr time frame we can see the price is taking resistance at 20MA but the bulls are still pressuring a lot. We can look at the MACD as it is showing the green histogram, meaning the MACD line is above the Signal line. Having said that, we can also see the RSI is in the neutral zone near 47 and it is pointing towards the overbought zone (70). In the end we can see that 20MA is below the 50MA and both are below the 100MA.
Looking at both the long term and short term view we can see that the trend is bearish in the long term and there is a change in the 4hr time frame. The price is near the $0.65 mark where we can see that bulls are trying their best to push the price up but they need a huge volume to support it. If the bulls are able to break the price then we will be able to see a bullish momentum but if failed to do so we can see the bears taking control of the price again.