Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Basic Attention Token (BAT) Technical Analysis: The One to Watch This Week

Published 06/19/2019, 06:29 AM
Updated 06/19/2019, 07:41 AM
 Basic Attention Token (BAT) Technical Analysis: The One to Watch This Week

Basic Attention Token is positioning well for a breakout soon from a falling wedge pattern, having spent the last 40 days downtrending between two pinching trendlines. The #48 cryptocurrency by market capital per Cryptocompare, is currently trading at around $0.34 and has banked a 1.23% gain against the US dollar today after returning to a strong uptrending support yesterday.

Trading volume over the last 24hrs has seen a marginal increase but has not been enough to confidently challenge the strong sloping resistance of the falling wedge. This particular resistance has successfully defeated BAT (LON:BATS) buyers several times over the last two weeks, and is currently preventing BAT’s price from returning to its previous highs.

Will bullish traders be able to overcome this formidable level, or will they continue to capitulate and send BAT’s price crashing further? Let’s take a look.

B...

This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.