Altcoin Thursday: BAT


07 OCT  2021 | ZebPay Trade-Desk
Basic attention token (BAT), is the native token of the Brave browser. The current rank of the asset is #93, with a live market cap of $1,082,780,523.  On the Brave browser, users can watch privacy-preserving adverts and receive BAT rewards for doing so, while advertisers can use the platform to deliver more targeted content, to maximize engagement. Hence,  the token itself acts as the unit of reward in this advertising ecosystem and is exchanged between advertisers, publishers, and users.

BAT witnessed a sharp correction almost by 42% from its recent high of $1 and made a low of $0.5778. The asset took support at the crucial level around $0.5732 (78.6% Fibonacci Retracement Level) and made a ‘Bullish Piercing Pattern’ and surged almost by 29.75% up to 0.7500. Currently, the asset is consolidating and hovering around $0.735 (50% Fibonacci Retracement Level). Once a breakout or close occurs above the resistance with good volumes then we may expect the prices may further rally up to the $1 mark.

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Disclaimer: Investments in cryptocurrencies viz. Bitcoin, Bitcoin Cash, Ethereum, etc. are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice.

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