Basic Attention Token (BAT) creates a blockchain-based digital advertising platform that rewards creators and consumers. It has a ledger that connects three segments through smart contracts. The native crypto coin BAT can be exchanged between publishers, advertisers, and users.
We can find several digital advertising networks in the real-world such as Google or Amazon. Still, BAT can be the future of a blockchain-based digital advertising platform that can deliver higher impact ads and assure conversion.
In traditional systems, users do not get rewards for ad viewing. However, on the Brave browser, users get rewards. After getting rewards, the users have two options. Either they can hold the BAT or exchange it for other cryptocurrencies or cash. In this way, they can support their favorite content creators.
It was founded by Brendan Eich, founder of Brave Software. In 2017, BAT organized an initial coin offering that raised $35 million in a few minutes. Still, 500 million BAT is reserved by Brave Software owner, among which 300 million will be sold in the future to promote the platform.
BAT operates only on the brave browser, and the transactions settle on Ethereum. on this browser, users can sign up for the reward program and get BAT as a reward, which can be converted into cash.
In the last 24 hours, BATUSD has been down 1.5%. On the daily chart, it is taking support at around $0.65, which can be considered a strong support level for this chart. The price may not break this level, but anything can happen in the crypto world, so you have to prepare for both consequences.
In the last four months, it has been consolidating within a range of $0.98 and $0.65, and if it continues, you can trade for the short term with a target price of $0.98. It will give you a good return in the short term. MACD and Bollinger Bands suggest bearishness because the price is trading at a lower level. Moreover, RSI is also in the oversold zone. Now you have to analyze the long-term view as well.
The weekly chart also suggests a consolidation period, but it had formed higher highs and higher lows, so in the long term, the chart may give you a better return.
However, most of the technical indicators are bearish now. We think $0.59 would be a better price to buy this coin for the long term. You have to wait for a few weeks for this price; after that, hold it at least for five years to get a good return on investment.
