BAT Technical Analysis: Price May Soon Breakout of the Subsequent Resistance Levels of $0.624 and $0.643

Basic Attention Token (BAT) is a digital currency that aims to eliminate the inherent inefficiencies and security violations in the digital ad world. In the recent past, this altcoin has witnessed unprecedented growth with the large-scale adoption of BAT by leading brands. It is also being used as a utility token by many blockchain-based gaming apps and platforms. The following BAT technical analysis will predict the price trends for the next couple of days:

Past Performance

On Jul 23, 2021, BAT opened at $0.513. On Jul 29, 2021, BAT closed at $0.594. Thus, in the past week, the price has increased by roughly 16%. In the last 24 hours, BAT has traded between $0.567-$0.617.

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Day-Ahead and Tomorrow

Currently, BAT is trading at $0.619. The price has increased from the day’s opening price of $0.594. Thus, the market seems bullish.

The MACD and signal lines are positive. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bullish. Hence, we can expect the price to rise further.

Currently, the RSI indicator is at 68%. It faced rejection at 56% and rose to the current level. Hence, buying pressures are very high. High buying activity will exert upward pressure on the BAT price.

Besides, the OBV indicator is upward sloping. Thus, buying volumes are higher than selling volumes. Hence, the price may go up further. In short, all three oscillators have given bullish signals.

BAT Technical Analysis

Currently, the price is above the first Fibonacci pivot resistance level of $0.612. The price may soon break out of the subsequent resistance levels of $0.624 and $0.643, respectively.

The price has tested and risen above the 23.6% FIB retracement level of $0.606. It may soon break out of the 23.6% FIB extension level of $0.63. Thus, as of now, the bulls seem strong. Thus, we can expect the price uptrend to continue tomorrow as well.