Basic Attention Token Price Prediction — Will BAT Hit $2 Soon?

  • Bullish BAT  price prediction is $1.01 to $1.95.
  • The BAT  price will also reach $2 soon.
  • BAT  bearish market price prediction for 2022 is $0.4282.

In Basic Attention Token’s (BAT ) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about BAT  to analyze the future movement of the cryptocurrency.

Basic Attention Token Current Market Status

According to CoinGecko, the price of BAT  is $0.911 with a 24-hour trading volume of $136,022,861 at the time of writing. However, BAT  has increased nearly 3.4% in the last 24 hours.

Moreover, BAT  has a circulating supply of 1,497,173,045 BAT. Currently, BAT  trades in cryptocurrency exchanges such as  Binance, OKX, Bybit, FTX, and BingX.

What is Basic Attention Token (BAT )?

Basic Attention Token (BAT) is the token that powers a new blockchain-based digital advertising platform developed to fairly reward users for their attention while providing advertisers with a better return on their ad spend. The primary use case for the Basic Attention Token is as a payment token for running advertising campaigns through Brave Ads. Basic Network Token (BAT) is an ERC-20 token. BAT is built on the Ethereum blockchain. This consensus algorithm makes sure only valid are confirmed, while the combined work of the Ethereum mining network ensures BAT transactions are essentially irreversible once confirmed.

Basic Attention Token (BAT ) Price Prediction 2022

Basic Attention Token holds the 89th position on CoinGecko right now. BAT  price prediction 2022 is explained below with a daily time frame.

BAT /USDT Inverted Head and Shoulder Pattern (Source: Tradingview)

The inverted head and shoulders pattern used as an indicator. This pattern is related to the reversal of the downward trend in prices. This is one of the most common signs of reversal. When the price drops, it will hit a bottom (trough), and then start to recover and rise. Market resistance pushed it back to another trough.

The price fell to the point where the market could not maintain a lower price, and the price began to rise again. Again, market resistance pushed prices down, and prices fell for the last time. If the market cannot support the lower price, the previous low will not be made. This will trigger a higher low before the price rises again. This movement produces three valleys or troughs called the left shoulder, the head, and the right shoulder.

Currently, BAT  is in the range of $0.91. If the pattern continues, the price of BAT  might reach the resistance level of $1.12. If the trend reverses, then the price of BAT  may fall to $0.4282.

Basic Attention Token (BAT ) Support and Resistance Level

The below chart shows the support and resistance level of BAT.

BAT /USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of BAT.

  • Resistance Level 1 – $0.78
  • Resistance Level 2 – $1.01
  • Resistance Level 3 – $1.39
  • Resistance Level 4 – $1.65
  • Resistance Level 5 – $1.95
  • Support Level 1 – $0.63
  • Support Level 2 – $0.42

The charts show that BAT  has performed a bullish trend over the past month. If this trend continues, BAT  might run along with the bulls overtaking its resistance level at  $1.95.

Accordingly, if the investors turn against the crypto, the price of the BAT  might plummet to almost  $0.42, a bearish signal.

Basic Attention Token Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of BAT  is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of BAT  lies below the cutoff line, indicating weaker participants in the current trend.

BAT /USDT RVOL, MA, RSI (Source: TradingView)

More so, the BAT’s Moving Average (MA) is shown in the chart above. Currently, BAT  is in a bullish state. Notably, the BAT  price lies above 50 MA (short-term), so it is completely in an upward trend. Therefore, there is a possibility of a reversal trend of BAT  at any time.

Meanwhile, the relative strength index (RSI) of the BAT  is at level 66.79. This means that BAT  is in a nearly overbought state. However, this means a major price reversal of BAT  may occur in the upcoming days. So, traders need to trade carefully.

Basic Attention Token Price Prediction 2022 — ADX, RVI

Let us now look at Basic Attention Token’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

BAT /USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of the Basic Attention Token. Currently, BAT  lies in the range of 33.40, so it indicates a strong trend.

From the above chart, the Relative Volatility Index (RVI) of BAT. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of BAT  lies above the 50 levels, indicating that the direction of volatility is high. In fact, BAT’s RSI is at 66.79 level thus confirming a potential buy signal.

Comparison of BAT  with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Basic Attention Token.

BTC Vs ETH Vs BAT  Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the BTC is moving at the upward trend. But, the recent trend of ETH and BAT moves in a downward direction.

Conclusion

With continuous improvements in the Basic Attention Token network, we can say that 2022 is a good year for BAT. For this reason, the bullish price prediction of Basic Attention Token in 2022 is $1.95. On the other hand,  the bearish BAT  price prediction for 2022 is $0.4282.

Furthermore, with the advancements and upgrades on the BAT  ecosystem, the performance of BAT  would help to reach above its current all-time high (ATH) $1.65 very soon. But, it might also reach $2 if the investors believe that BAT is a good investment in 2022.

FAQ

1. What is Basic Attention Token?

Basic Attention Token (BAT) is the token that powers a new blockchain-based digital advertising platform developed to fairly reward users for their attention while providing advertisers with a better return on their ad spend.

2. Where can you purchase BAT?

BAT  has listed on many crypto exchanges which include Binance, OKX, Bybit, FTX, and BingX.

3. Will BAT  reach a new ATH soon?

With the ongoing developments and upgrades within the BAT  platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Basic Attention Token?

On November 28, 2021, BAT  reached its new all-time high (ATH) of  $1.90.

5. Is BAT  a good investment in 2022?

Basic Attention Token (BAT ) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of BAT  in the past few months, BAT  is considered a good investment in 2022.

6. Can Basic Attention Token (BAT ) reach $2?

Basic Attention Token (BAT ) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Basic Attention Token (BAT ) will hit $2 soon.

7. What will be the BAT  price by 2023?

Basic Attention Token (BAT ) price is expected to reach $3.9 by 2023.

8. What will be the BAT  price by 2024?

Basic Attention Token (BAT ) price is expected to reach $4.7 by 2024.

9. What will be the BAT  price by 2025?

Basic Attention Token (BAT ) price is expected to reach $5.3 by 2025.

10. What will be the BAT  price by 2026?

Basic Attention Token (BAT ) price is expected to reach $6 by 2026.

Disclaimer: The opinion expressed in this chart solely the author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

The post has appeared first on thenewscrypto.com

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