BAT Technical Analysis Report | 1st-December-2022

The Basic Attention Token (BAT) is a crucial component of the Brave browser ecosystem. The key reason behind this project is to build a fair and rewarding system for stakeholders, including advertisers, publishers and internet users, in the digital advertising industry. The token is up by less than 1% while the volume has increased by around 34%. There are currently more than 1.49 billion BAT tokens in circulation. The digital fortune is almost completely diluted because the maximum supply is capped at 1.5 billion BAT. BAT has a market capitalisation of $351 million and currently ranks 84 amongst all crypto assets.

At the time of writing, BAT was trading at $0.235

BAT Chart | 01st December 2022
BAT Chart

BAT after resisting the downsloping trendline witnessed a sharp correction and the prices plunged almost by 40% making the low of $ 0.209. The asset has made a small ‘ Hammer’ candle and the lower shadow at the lows indicates buying at these levels. Technically, on a daily time frame, BAT is trading sideways in a range from $0.21 to $0.235 with low volumes. Breakouts on either side of the range will further decide the trend for the asset.

Support 2Support 1AssetResistance 1Resistance 2

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