As most cryptocurrency markets keep moving up, expectations are very high. The Basic Attention Token price is still trying to reach $0.3, albeit some good progress has been made in the past few hours.
BAT Price Momentum Intensifies
It is always good to see the different crypto assets note strong gains. None of this would be possible without Bitcoin's momentum, however. Whereas some markets are already in double-digit percentile gains, the BAT price uptrend is slower, but more deliberate. A near 4% gain on the day is already in place so far.
To sustain this uptrend, there needs to be ample trading volume. BAT Is lagging a bit behind, as just over $53 million in volume is not too great. Top trading pairs are BAT/BTC, BAT/USDT, and BAT/USD today. All of these different markets can have a big impact on the price over the coming hours.
BAT/USDT Technical Indicators
Bollinger Bands: As the Bollinger Bands narrow a bit, one would expect accumulation to begin. For BAT, that is not the case, as the recent bearish pressure is turning into a bullish surge again. With green candles showing ample body, it would appear that the volatility and liquidity will pick up in the coming hours.
Moving Averages and RSI : The MA20 and MA50 are still moving up slowly, which is a prominent sign. No divergences are on the horizon, which should push the BAT price higher in the days to come. Even the RSI is angling up again, yet it is still rather neutral, instead of bullish.
Resistance Levels: Surpassing $0.2814 will be a key hurdle to overcome in quick succession. It used to be a support level but has turned resistance in recent days. Further resistance can be found near $0.2921.
BAT/BTC Technical indicators
Bollinger Bands: The BAT/BTC BBs look a bit different. Despite noting some gains yesterday, the momentum remains bearish. Overcoming today's red candle is not difficult, as there is very little body to it. With volatility and liquidity narrowing, establishing an uptrend will be challenging.
Moving Averages and RSI: The MA20 is moving further away from the MA50, indicating that the bullish momentum hasn't subsided yet. For now, the MA200 isn't moving in either direction, which is expected after the recent mini dip. All signs point at an eventual continuation of the uptrend, but there is still some key resistance.
Resistance Levels: A lot of resistance looms on the horizon for BAT/BTC. The current level near 2,760 Satoshi will be a minor check. Pushing through to 2,774 Satoshi is possible today, assuming Bitcoin doesn't go down again. The first key resistance is near 2,809 Satoshi , but that may remain out of reach for a little while longer.