Price Analysis

Basic Attention Token Price Analysis: BAT Coin Bull Run Fades, But It Continues to Trade in Bullish Zone

One of the popular American cryptocurrency exchange, Kraken, has recently announced to add support for Basic Attention Token. The move will surely attract new investors toward the BAT coin.

Current Statistics of BAT:

  • On August 26, at UTC 05:27, Basic Attention Token was trading around $0.189277.
  • Against Bitcoin, the BAT coin price was valued around 0.00001848 BTC per chip.
  • Additionally, the market capitalization of the cryptocurrency was around 242,684,937 USD.
  • At the same time, the 24-hour trading volume of the altcoin was 27,944,975 USD.
  • With a return on investment of 12.77%, a total of 1,279,225,522 BAT chips were circulating in the market at the time of writing.

BAT to USD Price Comparison:

BAT Price Prediction
BAT Coin Price Chart by TradingView

On August 21, BAT was trading in the red zone and was degrading further. In the first half of trading, the coin declined by 6.59%, but afterward, it gained a huge momentum of 12.2% and shoot up to the level of $0.18895. Nevertheless, the bullish run in the coin faded soon afterward, and it went back to the level of 0.18 USD. In the early hours of August 22, the altcoin again showed a substantial hike of 14.52% and touched the $0.20179 mark. The BAT coin kept hovering in the green zone around those levels till August 25. In the early hours today, it again made a dip of 5.51% and stooped to 0.192 USD mark. Since then, it has shown a flattish action but stayed in the green zone until the time of writing.

BAT Coin Price Prediction:

The strengthening of BAT in the last couple of days has been an assuring one regarding the future of the coin. For now, the immediate resistance for the Basic Attention Token is at 0.202 USD, and the support level is at 0.186 USD.

Conclusion:

The listing of BAT on Kraken is an important milestone for the crypto. The community must be expecting for increasing in the trading volume and market capitalization of BAT. As far as trends are concerned, the short term trend is more of flattish or slightly bullish. However, the long and medium terms are bullish.

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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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