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Basic Attention Token Price Prediction: Long-term Analysis is showing bearish sentiment

The cryptocurrency market is again under the Bearish sentiments in the values of the cryptocurrencies. The top ten cryptocurrencies are also under the bearish pressure and on the other hand, bat coin price prediction is also under the bearish correction. The bearish correction of the BAT was started on April 21, after it achieved the value of around $0.5 and since then the BAT is following the wedge pattern.

Its wedge pattern conventionally follows bullish breakout and it is currently trading and testing the value of $0.204448. Its value is decreasing by -0.81% and the market capitalization of the currency is $261,024,061. The 24-hour volume of the currency is $24,071,234 and the circulating supply of the BAT is 1,276,725,522 BAT.

Basic Attention Token Prediction: BAT is following the bearish sentiment from the previous few weeks. If we talk about the following potential of the currency then on the increasing side the currency has important resistance value around $0.215 and if this value is surpassed then the main resistances will lie around the value of $0.23 and $0.24.

BAT has gained around 500% increase during the first quarter, but unfortunately, it loses around 55% in the previous months. On the other hand, on the decreasing side, the important support level of the BAT is $0.195 and if the value further fails then the next support levels will be around the values of $0.18 and $0.17. After the excessive decrease of August 10, the RSI of the currency is neutral and while on Stochastic RSI, the sellers are meeting and expecting a possible drop in the value of BAT.

BAT medium-term price prediction: In the 4-hourly chart of the currency, the currency is following bearish sentiment after the mid-July fall back that happened after the high value of $0.28. In the course of the previous two weeks, the currency is re-examining the rebound value of mid-July $0.195 and also creating a falling channel.

The BAT is again hovering around the value of $0.195, this time it might break even lowers and a new support value will emerge. If the breakout happens around the value of $0.195, then the main support level will lie around the values of $0.17 and $0.15. BAT is going back towards oversold category as we can see on Stochastic RSI. After the refusal of the value of 9 August, the RSI is speedily recoiled from the overbought region and currently is on 50 levels. If the RSI will pass the above level then the value of BAT might become bullish again. Unfortunately, it is still in bearish sentiments in the 4-hour chart.

BAT long-term price prediction: After achieving a high of $0.5 on April 21, it followed the bearish sentiment. It is currently following the falling wedge pattern since the 4 months. It is currently trading around the value of $0.20 and the selling aim at $0.15. The wedge pattern usually follows the bullish breakout.

As we can see the BAT is under the clear bearish pressure and that’s why the investors need to watchful for the following selling values at $0.184 and $0.164, before anticipating the aid for the breach around the values of $0.13 and $0.1. The value of the BAT is going towards the lower boundary of the wedge for the third time.

The line refuses the value again, and then we might see the value near the resistance levels of $0.23 and $0.256, that is the upper wedge boundary. If the value of BAT goes up then achieving the value of $0.274 and $0.30 is easy.

If we talk about the RSI, BAT is steady on the 30 levels after it falls back from the oversold region in late April. The Stochastic RSI is moved towards the oversold region following the value decrease of August 5.

This post first appeared on Coin Market, please read the originial post: here

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Basic Attention Token Price Prediction: Long-term Analysis is showing bearish sentiment


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