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Basic Attention Token Price: BAT +6%, Gets Market Attention. Monday, November 5th

05 november 2018, 22:17 by Gene Cotillo

BAT Gets Market Attention

While the recent increase interest is not going to drive the prices up on that merit alone, the projects purpose is helping to bring new money into the market. Basic Attention Token (BAT) is clearly showing signs of new market cycle that is starting. It appears that it is aiming back for the $1.0 area, where it will find some resistance, mainly as a psychological barrier. Once it is able to break through $1.00, things start to look very good for the token.

BAT/USD Price Chart, Monday November 5th:

Basic Attention Token Channels Confirmed by Bars and Bulls

By cloning the support trend line and bringing it up, it creates a possible channel for Basic Attention Token (BAT). Given that trends often bound within parallel channels, in addition to the amount of headroom Basic Attention Token has in this channel, it appears a breakout is on the way.  Supporting this move are the bar patterns, that also show a possible path. Further confidence comes from Bullish flags on the BATBTC charts, where BAT has Broken through resistance and has gotten bullish confirmation. The momentum behind this new push will help determine how long it lasts and if it has the strength to hold against a bearish pull back.

Basic Attention Token Benefits from Entire Market

As will be the case with most of the positive news coming from cryptocurrency markets over the next few days, a lot of the success is due in part to Bitcoin cash and its impending Hard Fork. The creation of new coins and speculation is bringing investors in and it is causing all of the coins to get some action. For most coins, this will result in a few days of volatile, spiky trading and then the coin will settle back into its previous area and trend, but a few will get strong enough pushes that they can keep the momentum going long enough to gain and stay up when the dust settles. Basic Attention Token (BAT) has a great chance to keep the momentum going. New investors are seeing BAT for the first time, and given the strength of the project itself, some are going to latch on to it. 

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