Basic Attention Token (BAT) price has been in an uptrend in the recent days, gaining over 17% in the past week and showing signs of a further bullish move. According to technical analysis, the pair of BAT/BTC is trading at 0.00001012 BTC, witnessing a 7.32% intraday surge that signals high correlation between both the pairs.

Since mid-January, BAT crypto price has been able to surpass the 50-day EMA and form a bullish trend reversal. Taking advantage of this, the BAT price began to soar with higher high swings and managed to grow up to 66% in the span of a month. During this rally, BAT price even tried to break out of the 200 day EMA and make investors full of confidence.

However, the breakout attempt failed to gain further momentum and the bullish rally started to consolidate for a few days near the $0.3362 resistance level, pulling the price back to $0.2000. Soon enough, Basic Attention Token price showed signs of a recovery by crosssing the resistance level and giving rise to the possibility of a bounce-back from the support levels.

At present, with the combination of the bullish Marubozu candle on the weekly timeframe and the MACD and RSI indicators, Basic Attention Token is suggesting further upside movement in the upcoming months. As the market volume to market cap ratio is at a favorable 0.2369, one can expect that the resistance levels of $0.3362 and $0.4500 will be conquered soon. Furthermore, the support levels of $0.2000 and $0.1600 will provide some stability to the moving prices of BAT.

In conclusion, Basic Attention Token's price is driving in a bullish direction as it reenters the bullish track. With numerous indicators suggesting further upward momentum, investors and traders are keeping a close watch on this digital asset. Despite all of these happenings, one should always practice caution when speculating in cryptocurrencies, as the market is associated with potential risks of financial loss.



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