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Basic Attention Token Price: BAT -12%. Failed At Key Resistance Level. Friday, November 9th

09 november 2018, 10:45 by Gene Cotillo

Basic Attention Token at Key Resistance Level

Basic Attention Token has been one of the few cryptocurrencies lately that showed green yesterday, when what looks like a correction started to happen within most of the top cryptocurrencies. And it was not simply green, but high percentage gains, compared to the rest of the major cryptocurrencies. Yesterday, Basic Attention Token enjoyed gains of nearly 9%, and it seems that taking a long, daily position whil trading is the best route to success and profits.

Looking back over the past few weeks, had you been in the long for BAT since the long setup triggered on 13 October at $.18 USD, you would have realized a total gain of roughly 64%. 

The $0.3811 resistance level turned out to be the top BAT could achieve and many investors monitored the gains closely. Watching the overextension signal, looking for any extreme red could very well indicate that reversal candles which follow soon after. This is a pivotal point in the short-term pricing of Basic Attention Token over the short term. 

On the reversal, we can expect prices to fall, obviously, While a breakthrough would signify further gains, it is not likely that these gains will come in any faster or more drastic of a fashion than we have seen in the past few weeks. Challenging and breaking through the resistance level will allow Basic Attention Token to enjoy more of the same positive gains that it has been experiencing until it flirts with the new resistance levels. Those levels would allow Basic Attention Token to have clear sailing to right around $0.53 USD.

Currently, BAT needs to focus on surviving the current correction without any significant losses.

BAT/USD Price Chart, Friday November 9th:

There is a medium overextension signal at the current resistance level, so be cautious and watch closely for a breakthrough and conformation or for failure and confirmation in order to make your best decisions.

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