Basic Attention Token Price Up By 23.76% – Time to Buy BAT Coin?

Basic Asset Token, the advertisement-centred crypto, has been on a tear in the last 24 hours. With major adoptions in the bag, investors are rushing to buy BAT.

With the crypto market set to see a paradigm shift in fortunes, BAT’s recent rally may be the beginning of a sustained bullish run to a new ATH.

We will examine the digital asset’s technical and fundamental performances so far and see if now is a great time to buy BAT.

BAT: Showing Strong Bullish Backing

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Basic Attention Token is a browser-focused token that seeks to ensure privacy while surfing the internet. BAT, with the ethos of Web 3.0 wrapping around user privacy, has become a beacon of a more decentralised future where every user decides what they do with their information.

BAT has been one of the promising tokens in a market hard hit by bearish waves. The crypto asset is up 23.76% in the last 24 hours and is trading at $1.3160. The weekly gains of the coin are also impressive as the digital asset surged 36.93%, with a monthly increase of 87.72%.

BAT has climbed 570.29% year-to-date (YTD) and 495.42% in a 12-month trailing performance. These multiple positives have paid off as BAT’s market cap is currently up 23.76% and is pegged at roughly $2 billion.

The asset’s 24-hour trading volume is also through the roof at over $967 million, reflecting a 316.22% increase in the past day.

However, the privacy-centred token is only just getting started, as previous rallies have shown. The coin token hit an all-time high (ATH) of $1.63 in the April crypto boom.

This rise sees BAT currently trading below its ATH by 18.6%. But this gives a strong indication that BAT is gaining major steam, and this might be an ideal time to buy BAT.

This growing adoption by the protocol is largely due to its 4-year earnings streak. BAT has risen 1,735.10% from an all-time low (ATL) of $0.072394 of July 2017. This increase reflects the serious bullish backing of the project.

BAT Technical And Fundamental Analysis

It has not been a smooth ride for the BAT token, as with most crypto assets. During the crypto winter months, the coin struggled at the $1 resistance line, heralded by severe regulatory action from China and Elon Musk’s criticism of cryptocurrencies.

However, if today’s rally is anything to go by, BAT may be turning a bullish corner now. The digital asset is soaring above the 20-day moving average (MA) support price of $1.1203, depicting a strong bullish backing.

BAT’s 200-day MA price shows a more positive future outlook for the protocol, despite only picking steam. The digital asset soars above the indicator price of $0.7666, meaning that this might be an ideal time to buy BAT.

The 14-day relative strength index (RSI) points to the growing market confidence surrounding the project. On the other hand, the RSI figure is trading dangerously close to the overbought region with a current figure of 67.95.

As per the moving average convergence and divergence (MACD), the indicator is currently flipping into a buy signal.

BAT’s recent good fortunes lie in a few strategic fundamental steps. The browser-based token recently introduced cryptocurrencies into its web browser called Brave Wallet. The new project would allow users to store, manage, send, and receive cryptocurrencies from a single wallet.

The digital wallet’s appeal was even more apparent after the BAT protocol integrated with the Solana blockchain.

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About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.