Basic Attention Token Price Prediction 2021 – Will BAT Hit $2 Soon?

Basic Attention Token Price Prediction 2021 - Will BAT Hit $2 Soon?
  • Bullish BAT price prediction ranges from $0.86 to $1.63.
  • The BAT price might also reach $2 soon.
  • BAT bearish market price prediction for 2021 is $0.50.

In Basic Attention Token (BAT) price prediction 2021, we use statistics, price patterns, ADX, and much other information about BAT to analyze the future movement of the cryptocurrency. 

The Basic Attention Token (BAT) is a blockchain-based system for tracking media consumers’ time and attention on websites when they use the Brave web browser. Its goal is to efficiently distribute advertising money between advertisers, publishers, and readers of online marketing content and ads, and it is built on Ethereum.

The Brave browser is built with Chromium, an open-source software that offers a faster, safer, more private, and more equitable internet browsing experience. Its native utility token is the Basic Attention Token (BAT).

Current Market Status of Basic Attention Token (BAT)

According to Coingecko, the price of Basic Attention Token is $0.5322 with a 24-hour trading volume of $97,005,379 at the time of writing. However, BAT dropped to 2.92% in the last 24 hours.

Moreover, BAT has a circulating supply of 1,488,718,839 BAT. Currently, BAT trades in cryptocurrency exchanges such as Binance, OKEx, Upbit, FTX and Huobi Global. 

Basic Attention Token (BAT) Price Prediction 2021

Basic Attention Token (BAT) holds the 88th position on CoinGecko right now. BAT price prediction 2021 explained below with a daily time frame.

BAT/USDT Showing Ascending Scallop (Source: TradingView)

Ascending scallops pattern is observed during a bullish rally. This pattern appears to be in the shape of a J that is slightly tilted to the right. A breakout above the pattern’s highest high is considered an upward breakout, while a breakout below the pattern’s low is considered a downward breakout.

More so, the theory explains that at the start of the pattern, there is a price drop. The drop is smaller, and it reverses back, resulting in a wider bottom. Following the reversal, the price continues to rise, and the entire pattern appears as a tilted J.

Currently, BAT is waving at its wider bottom above the entry point at $0.5322. After this, BAT would continue to rise which will appear as tilted J. With this pattern, BAT will soon reach $1.69. If the trend reverses, then the price of BAT may fall to $0.28.

Basic Attention Token (BAT) Support and Resistance Level

The below chart shows the support and resistance level of Basic Attention Token (BAT).

BAT/USDT Support and Resistance Level (Source: TradingView)

From the above two time frames, it is clear the following are the resistance and support level of BAT.

  • Resistance Level 1 – $0.86
  • Resistance Level 2 – $1.63
  • Support Level 1 – $0.50
  • Support Level 2 – $0.28

The chart depicts the bullish performance of BAT over the previous month. However, if the trend continues to rise then BAT has a chance of overtaking the resistance level at $1.63 soon. On the contrary, if the trend reversed then BAT might drop to $0.28 presenting a bearish signal.

Basic Attention Token (BAT) Average Directional Index (ADX)

Let us now look at BAT’s Average Directional Index (ADX). In Particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

BAT/USDT ADX (Source:TradingView)

The above chart represents the ADX of BAT at the range of 12.84, so it indicates a weak trend.

Conclusion

The BAT is one of the cryptos that keeps its ground against the bearish market. In addition, our long-term BAT price prediction for 2021 is bullish. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the BAT ecosystem, the performance of BAT would rise reaching $1.69 very soon. But, it might also reach $2 if the investors believe that BAT is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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