Basic Attention Token shows sideways momentum with remote price movement as the candles formed, showing that both the bulls and the bears tried to push the price but failed. The BAT token moving in between the range shows that neither the price is able to close above the high of $0.469 nor below the low of $0.293, and the token is currently moving at the price of $0.345.
There hasn’t been any major price action for Basic Attention Token in the last few days showing indecision in the market. Once the price closes above the resistance point or below the support line, robust price action for BAT can be expected in the long run.
A bearish engulfing pattern formed on August 26, but the price didn’t descend after that, thus showing the bears are not interested in further downfall, and the price continues to move sideways. Traders must be aware of the latest happenings in the BAT token before making a final investment decision.
The RSI line is moving between the overbought and oversold zone, with the indicator currently being 42, which shows neutrality. The MACD line and signal lines recently overlapped, not clearly indicating any price movement.
Once the forming candles of BAT show major price moves in any direction, future price action can be determined. The volume bars are moving below average, being unfavorable towards both bulls and bears.
The weekly chart of Basic Attention Token shows the formation of lower low peaks as the bears constantly pushed the price downwards during the past few months. Last week, there was a marginal price movement as the bulls tried hard to push the price upside but couldn’t close above the previous high.
The MACD indicator in the weekly chart is still in the bullish zone. However, there wasn’t any rise in the price from when the MACD gave a bullish signal. The traders should wait for the next candles before entering the trade or may enter the trade depending upon the fundamentals of the token. If the BAT price close below the low of $0.293, a major downfall of the coin can be expected.
