Basic Attention Token Price Analysis BAT / USD: Pressed Down
The BAT / USD pair peaked on April 21st this year, with the popular crypto’s losses accelerating during early June. At current trading levels, the BAT / USD pair has lost over sixty-five percent of its value since from its yearly trading high, and trades around forty percent higher from the start of the year.
Looking ahead, suggests that the cryptocurrency still has further to fall before it may start to begin a meaningful reversal. Firstly, the four-hour time frame shows a valid pattern, with the pattern holding a downside projection that would take the BAT / USD pair towards the $0.110000 level.
The daily time frame also projects further losses for the BAT / USD pair, with three obvious negative developments happening on this time frame. Firstly, a death-cross is underway, while a breakout is also in progress. The mentioned time frame also shows negative price divergence that extends down towards the $0.150000 level.
The indicator on the daily time frame also shows that the cryptocurrency is not yet oversold, despite suffering four-straight months of declines.
According to the latest sentiment data from TheTIE. , the short-term sentiment towards Basic Attention Token is positive, at 63.00 %, while the overall long-term sentiment towards the cryptocurrency matches the daily sentiment, at 63.00%.
BAT / USD by TradingView
The four-hour time frame is showing that the BAT / USD pair needs to break above the 0.208000 level to negate the pattern on the mentioned time frame. The 0.270000 level is the foremost if a breakout does occur.
The daily time frame mirrors the four-hour time frame in terms of key technical levels, with key resistance at the 0.208000 level, while the BAT / USD pair’s 200-day moving average is located at the 0.270000 level.
The pattern on the four-hour time frame dominates the technicals on the lower time frames, with the 0.168000 level the neckline and breakout point for the .
The daily time frame currently shows a death-cross unfolding, with the 50-day moving average crossing over the 200-day moving average. The negative price divergence extends down towards the 0.150000 level.
The short-term technicals for Basic Attention Token suggest a move towards at least the $0.150000 level, while medium-term analysis is even more , and points to a drop towards the $0.110000 level.
Overall, the BAT / USD pair shows few signs of making a sustainable recovery, heightening the chances of further downside for the cryptocurrency.