Basic Attention Token Crypto Price Prediction - Will BAT Pump Further?
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
Basic Attention Token crypto has been in the limelight over the last 24 hours as the price soared up to $0.35.
Having now retraced back down to $0.308 traders will be speculating whether now potentially serves as a good time to reaccumulate.
Will BAT crypto continue to pump and which other altcoins in the market have greater chances of rising?
Retail investors holding Basic Attention Token may have heard the sirens of euphoria ringing once again as the price went up by over 22% in 24 hours.
Immediately after retesting the 20-day moving average on the weekly time frame however, the price of BAT crypto was rejected and spiraled back into a downtrend into a key buying zone.
Getting rejected on the 20-day moving average usually reflects that the bulls have not got enough momentum to keep the price driving forward.
The above chart reflects that Basic Attention Token is trying to crawl its way out of a major buying and accumulation range (the green rectangle).
Accumulating at these lower price levels could have potentially offered some strong returns.
It seems getting rejected at the 20-day moving average has slowed down the momentum of the bulls.
Ideally if BAT crypto can induce a bullish reversal and if Bitcoin continues to pump we could see the trajectory of BAT flip bullish once again.
The next major technical resistance is around $0.42 which is highlighted by the red rectangle. This is an area where if the price did rally onwards, we would be very likely to see a rejection - especially in a crypto bear market.
Traders could potentially set sell orders around this particular price range
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