The token has entered an uptrend on the daily chart.
- The token looks good for short-term investing purposes.
The token is constantly forming higher highs and higher lows indicating that it has gained uptrend. The price is very close to its resistance level and a slight move in price above its resistance level can be an indication of a bull move.
BAT on daily time frame
The horizontal line on the chart shows that whenever price has crossed this line it has shown a good rally upside and a similar thing can be expected this time. Therefore, if the price crosses this horizontal line or this resistance level, we can see a bull move to its next nearby resistance i.e. $0.34373944.
MACD – The MACD’s bullish crossing signal indicates that BAT has become more powerful on the daily chart. There are more bulls than bears as seen by the indicator’s bullish crossover.
Relative Strength Indicator (RSI) – The score of the RSI curve is 69.74 which is above the 50-point threshold. This means the price of the cryptocurrency is expected to rise higher.
Analyst views and expectations
We may see the token continuing its bull rally. Short-term investors can look forward to investing once the token crosses the horizontal line whereas long-term investors should wait until they see a Golden crossover or a good pattern forming on the chart.
Basic Attention token price predictions made by DigitalCoinPrice suggested that the token may average $0.57 in 2023 and continue to rise making an average of $1.02 by 2025. The website then predicted that the price of the token will be $3.35 in 2030.
According to Coinkid’s BAT price forecast , the token might close 2023 at $0.4075. Additionally, the website predicted that the price of token will begin the year 2025 at $0.5978, maybe rise to $0.7863 in November and end the year at roughly $0.8975.
In its Basic Attention token price projection for 2023, WalletInvestor was optimistic stating that the cryptocurrency might reach $0.325 in November of this year and $0.7082 in five years.
Major resistance -$0.46303294
Major support -$0.17264471
Short-term investors can look forward to investing in the token as it can give some great return in a short period of time.
Disclaimer: The opinions represented in this work along with any other opinions are presented primarily for informative purposes and are not intended to be taken as investment advice.
Source : https://www.thecoinrepublic.com/2023/01/27/basic-attention-token-price-analysis-is-bat-ready-to-give-a-bull-move/