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Cryptoknowmics 2022-06-23 12:35:02

BAT Technical Analysis: Breakout Rally Soon To Reach $0.50

BAT prices exceed the long-coming resistance trendline with a 35% jump over the last seven days and tease a jump to $0.50. Key technical points: BAT market price has increased by 6.88% over the past 24 hours. The price action shows a trendline breakout rally gaining momentum. The 24-hour trading volume of Basic Attention Token is $112.90 Million, indicating a hike of 24.57%. Past Performance of BAT BAT prices maintain a distinct downtrend generating a bearish trendline, accounting for a 70% drop to reach the $0.28 mark. The buyers quickly started to hoard at such a discounted price resulting in a hike of 35% over the week. Moreover, the reversal rally surpasses the $0.35 resistance level. Source- Tradingview BAT Technical Analysis BAT price action forms a bullish engulfing candlestick with higher price rejection signaling a formidable selling pressure at $0.43. Hence, traders hoping for a price jump must wait for a price action confirmation. MACD indicator: A bullish reversal helps the MACD, and signal lines regain the positive alignment to head towards that zero line. Thus, the indicator suggests an extremely high likelihood of a trend that is bullish. RSI Indicator: The RSI slope brings a sharp turnaround from the oversold area, surpassing its 14-day SMA to reach the halfway line. Hence, the RSI could soon signal an opportunity to buy after breaching the halfway line. Bollinger Bands: As the Bollinger bands experience a late...

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