22nd July 2021 | ZebPay Trade-Desk
BAT derives utility from the Brave browser. It has seen better mass adoption among both retailers and publishers, over the past few months, and coupled with the fact that BAT is still relatively undervalued given its utility, acquiring the asset at these levels seems to look like a highly attractive proposition for long term investors. In addition, as the ERC-20, and DeFi space continues to grow, this asset is poised for success.
BAT post making a weekly high of $0.60135, corrected almost 24%(up to $0.45582) as the candles made ‘Lower Top Lower Bottom’ formation. Currently, the asset has taken support at $0.425(previous low) and made a ‘Bullish Engulfing pattern’ which is a two-day bullish reversal pattern occurring in a downtrend. Hence to conclude, we may see some recovery in the asset unless the support levels of $0.425 or the low of the pattern($0.45582) are broken on a closing basis.
|Support 2||Support 1||Asset||Resistance 1||Resistance 2|
This concludes on the Altcoin synopsis for this week. Don’t forget to keep an eye out for our new poll, and let us know which coin you would like us to cover next week!
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