Fri. Aug 19th, 2022

All major cryptocurrencies have advanced in the last several days and the price of Basic Attention Token is also supported by this situation. Basic Attention Token pays publishers for their content and users for their attention while providing advertisers with more in return for their ads. Basic Attention Token has its token BAT that can be exchanged between users. As a crypto-currency, BAT is very similar to all other cryptos but it is used by Brave Browser, an open-source web browser that automatically blocks ads and trackers. Brave Browser and BAT allow users to monetize their attention and personal information. Users are able to choose how they engage with ads and what information they share with marketers. In exchange, users receive payments of BAT which they can use to subscribe to ad-free browsing services at their favorite websites. Some problems include BAT’s ability to effectively battle ad fraud (this is hugely expensive). Also, some experts are skeptical and they can’t see how they’ll possibly be able to provide advertisers with better data than Facebook already can and how they’ll keep users in their browser rather than the apps these social networks provide. Positive things for BAT are good leadership with an extremely good reputation/track record, it solves a really interesting problem, and has the possibility of mass adoption. It is very hard to explain the real value of Basic Attention Token and because of that, I would recommend to everybody to be careful with investing in BAT. In the chart below (a period from April 2019), I have marked major resistance and support levels which can help us to understand where the price could move. The current resistance levels are $0.3, $0.4 and $0.5, $0.2 and $0.15 represent the strong support levels.

https://www.investopedia.com/terms/b/basic-attention-token.asp

The price of Basic Attention Token currently stands around $0.22 and the first strong sign of recovery could be if the price jumps above $0.30. If the price drops below $0.2 strong support that would be a strong “SELL” signal and the open way to $0.15. In the chart below we can see how did the price of Basic Attention Token performs in the last 30 days. On this chart, I have marked a “trendline” and if the price drops below this trendline that will be a “SELL” signal.

https://www.crunchbase.com/organization/basic-attention-token

Recommendation: The price of Basic Attention Token has advanced from $0.21 to $0.23 in less than five days but according to technical analysis, this cryptocurrency remains in the bearish phase. Basic Attention Token is a very risky cryptocurrency with some problems and investors should be careful with investing in BAT. If the price jumps above $0.3 that could be a very good opportunity for the short term traders, short-term traders can put the stop-loss at $0.25 and take profit at $0.35 or above. The strong support level of this cryptocurrency stands around $0.2 but according to technical analysis, the downtrend is not over yet.

 

By Dov Herman

Dov is a Blockchain and Forex trading enthusiast, who spends most of his time trading and examining software who are related to cryptocurrencies and forex trading. You can follow on Dov’s reviews and articles here on TrustedBrokerz and across the web.