The association with the largest cryptocurrency exchange in Japan will affect it negatively or positively, but it will undoubtedly be reflected in the price of the Basic Atention Token in the following days.
That is why today the family will analyze the behavior in the price of the pairs BAT / USD & BAT / ETH.
BAT / ETH
bitFlyer had $ 250 billion USD in Global Transaction Volume in 2017, which is why bitFlyer is # 1 Highest trade volume in Japan. bitFlyer enables its users to build their own crypto wallet as well as Securely Buy, Sell and Manage their crypto in one place. As being a licensed exchange, bitFlyer allows them to buy crypto with USD. It allows them to easily link their bank account, plus they can create personalized alerts and receive instant price updates.
This foundation helps us to complement our Technical Analysis, since as we can see in the chart the price of BAT has made a downward decline. In recent days, BAT has been finding a break at the support level of 0.00105548 ETH. At the time of writing this 07/10/2020 11:08 UTC the price has tried to cross below the support level, at this moment it is being debated between the bears and the bulls. Meanwhile with the support of the Fibonacci retracement we can see that the end of the bears is approaching, since the level 0.61% is working as support, this apparently will lead to the purchase orders being above the orders of sale in the following days.
Also, that bitFlyer is one of the key players in crypto and blockchain technology. For Brave, it was a natural choice to work with them to expand their ecosystem in Japan.
With a market capitalization of 1,550,638 ETH and a Volume in the last 24 hours of 529,007 ETH. From May to today Basic Atention Token has maintained bullish movements, the current retracement can present great opportunities for bulls, since if buyers manage to take advantage of the current level of support, this would provoke a boost that would lead to the exchange of BAT against ETH go up to 0.00121768 ETH.
In another scenario, if the bears manage to break the current support, the BAT value will go from 0.00105548 ETH to 0.00093956 ETH.
BAT / USD
The Brave Browser as it is configured to offer Basic Attention Token (BAT) wallets in bitFlyer. It will be Brave's first cryptocurrency wallet partner in Japan.
Brave Browser will offer the Basic Attention Token (BAT) in wallets in Japan. This association aims to offer Brave wallets for both the Brave browser and bitlFlyer users.
BitFlyer is said to be the largest cryptocurrency exchange in Japan by volume. Brave Browser Marketing Director Ryotaro Chikaki has indicated that wallets are now available outside of Japan:
"We decided to work with bitFlyer as they are the largest exchange in Japan with high user trust for their security standard." Ryotaro Chikaki said.
As far as BAT / USD is concerned we can see a similar scenario in the 4-hour chart. With a total market capitalization of $ 372,506,758 USD and a Volume in the last 24 hours of $ 127,082,417 USD
The price has not left the uptrend channel that started from March 2020 and continues to this day. At the time of writing this the price of BAT against USD is $ 0.252.
The 20-period Triple EMA is above the Double EMA 60, this would indicate that bullish movements continue at the end of the slight decline of the last two days.
Therefore, in the following days we will be able to observe that:
If the bears manage to break the current support of $ 0.255 this would cause a break in the bullish channel, this would motivate the bears to push the price even lower to the $ 0.227.
In another scenario with the support of the current support and if the bulls find the current retracement as an entry point, the value of BAT against USD could increase in the following days and reach between 0.276 USD and 0.300 USD.
Thanks for reading have a great day or a great night whatever 🤗
