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Price Analysis

Basic Attention Token Price Analysis: Active Bearish Trend Will Not Let BAT To Sustain Its Bull Run

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The volatile characteristic of the crypto market is not letting BAT sustain their good luck for the long term. The same is highly evident from the price movement of BAT in the previous week. The strong bearish run is getting tougher every passing day, and thus, altcoin like BAT is continuously losing its worth to the erratic and turbulent BTC. Despite having its potential, it is not having any way out to get traded in the bullish ranges and also sustain therein.

Current status of BAT Coin:

Basic Attention Token Price Chart - 18 June

  • Price in BTC: 0.00003662 BTC (02:49 UTC)
  • Price in USD: 0.3403 USD
  • Circulating supply: 1,268,938,630 BAT
  • Market cap: 431,886,221 USD
  • Market rank: 27

BAT Coin Price analysis and future price predictions:

From the above 5-day chart of BAT, it is evident that its bearish run is highly persistent and has been ravaging BAT to a very great extent. From the midday of 12th June to midday of 17th June, it mostly had a bearish run. On 14th June, BAT price fell as low as 0.3093 USD. Yesterday only, it started rising above the bearish trend line and reached a value of 0.3684 USD. So, the shift in the prices is not high enough. But it is a fact that there is no adequate support level due to its highly persistent bearish trend so, there is nothing that can push BAT up against the bearish zone. No matter how hard it tries to combat, it is quite difficult for BAT to sustain this positive value. Although, within a span of 5-days only, the value of BAT has increased by 13.33% from 0.30 USD to the current price. But the major concern is the sustainability of the growth it exhibits. Considering these facts, we think that in the upcoming days, BAT can trade around 0.3302 USD to 0.3361 USD.

Conclusion:

In the concluding note, it can be said that BAT will be subjected to a steady drop down due to its persistent bearish nature. It will be tough for BAT to rise higher and even tougher to sustain. So, considering any investment in BAT despite knowing the market condition can indeed be a futile idea.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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