All of the cryptocurrency markets are intent on continuing their bullish surge. The Basic Attention Token price is one of the stronger risers today, continuing its week-long trend.
With so many markets flashing in the green, there is a lot of good money to be made for traders. Daily gains of 10% or more are not uncommon this week.
Basic Attention Token Price Push
Similar to other altcoin markets, the value of basic attention token is in a very good place. It too has had a solid uptrend in recent days. This is a bit surprising, as the early part of the past seven days saw relatively flat momentum in general.
With a low of $0.181623, the basic attention token price didn’t appear overly attractive to traders on January 9. Today, however, its value has increased to $0.235663. A remarkable turn of events, as a 23% gain for the day elevates this market to a new level.
Fueling the basic attention token price surge is ample trading volume. Nearly 17% of its current market cap has changed hands across exchanges. The main trading markets are BAT/BTC on Exrates, Binance, and Coinbene, BAT/USDT on Binance, and BAT/USD on Exrates.
BAT/USDT Technical Indicators
Bollinger Bands: As the basic attention token price uptrend continues, the Bollinger Bands remain wide open. There is only one way for BAT right now, and that is up. The volume charts also show there are primarily green candles all across the board.
It has to be said that BAT was subject to narrow BBs for several days. No real activity took place between January 9 and January 14. This wide-open maw can certainly last for a while, albeit it primarily depends on what is happening to bitcoin in the coming hours.
Moving Averages: The hourly BAT charts show bullish MA momentum. The MA20 is well ahead of the MA50, indicating a bearish crossover won’t occur out of the blue. The MA200 is slowly moving up as well, albeit not in a definitive manner.
On the daily chart, the bullish crossover between MA20 and MA50 is also apparent. It shows that the current basic attention token price is ahead of the MA200, which could spell some bearish momentum in the short-term. A very interesting market to keep an eye on.
RSI: The BAT token is in clearly overbought territory right now yet it seems unwilling to drop to normal levels again. That is a very bullish sign, but also an indication of a course correction occurring at some point. For now, it will not happen just yet.