Basic Attention Token Price Up 4.89% – Time To Buy BAT?

• Investors might be looking to buy BAT as the coin is outperforming the market.
• BAT’s technicals also look quite strong, showing that it might be ripe for investment.
• There are no fundamentals right now, but BAT’s use case could be prominent in the future.

The market is currently looking to get back into the green, even though many analysts still believe that we might be bracing up for another bearish run. However, the Basic Attention Token is one of the many notable holdouts, and investors are looking to buy BAT to still enjoy the gains.

Below, we dive deep into the analysis of the Basic Attention Token and examine if this might be a good time to buy BAT and prepare for gains.

BAT Technical Analysis: Strong Gains In The Short Term

At press time, Basic Attention Token trades at $0.8201 – a jump of 4.89% in the past 24 hours. This is optimistic against the broader crypto market, which is up by 2,27% in the same time period.

Based on recent performance, BAT is trading above all of its short-term moving average (MA) indicators – from the 10-day MA of $0.6975 to the 50-day MA of $0.7704. However, it is worth noting that the coin’s long-term MA indicators are still trading above it. Investors will want to watch the 100-day MA of $0.9417 as they contemplate whether to buy BAT.

Based on its major high, this digital assets’ 23.6 Fibonacci retracement level stands at $0.8848. Investors looking to buy BAT will want to look out for this as a resistance level, and breaking out will show that BAT might be ready to make bigger runs going forward.

Another murky sign for those looking to buy BAT comes in the asset’s negative moving average convergence divergence (MACD). The prevalent opinion is that BAT will be able to pull in a strong performance in the next 24 hours to flip the MACD into positive territory. If this happens, then the confidence to buy BAT will be even higher.

With a relative strength index (RSI)  of 66.66, BAT is approaching the overbought level. The RSI has been rising steadily for the past two days. This reflects that investors are taking note of BAT’s impressive performance and buying in.

Basic Attention Token: Get Paid For Online Interactions

The Basic  Attention Token is an asset that is looking to disrupt the online landscape. Launched in 2017, the asset was created by Brave – a privacy-focused browser that is looking to challenge big names like Google’s Chrome and Apple’s Safari browser.

Brave touts its focus on user privacy, and it is looking to bring a paradigm shift to how humans interact with ads online. Unlike traditional browsers that just show ads everywhere you turn, Brave rewards users for viewing content. Ad publishers can send targeted ads to the browser, and users can decide whether they would like to view these ads or not. If you do, Brave pays you some BAT for your troubles.

The utility token is also useful for non-fungible token (NFT) transactions as Brave has announced a partnership with the Splinterlands ecosystem to use BAT for land purchases in the virtual world. 

As the world pivots to a more privacy-focused landscape, Brave browser – and the BAT – should see increased adoption.

Buy BAT at eToro from just $50 Now!