BAT Token has been crushing it lately, but can it stay strong with the rest of crypto in chaos? Covered: The Ups And Downs Key Levels To Look For A Lesson In Bearish Divergence Bat Token: The Ups And Downs The past three days have been an absolute moonshot for BAT (Basic Attention Token), seeing […] The post BAT Token Hits New All-Time High Before Sharp Correction appeared first on CryptosRus.

BAT Token Hits New All-Time High Before Sharp Correction

BAT Token has been crushing it lately, but can it stay strong with the rest of crypto in chaos?

Covered:

  • The Ups And Downs
  • Key Levels To Look For
  • A Lesson In Bearish Divergence

Bat Token: The Ups And Downs

The past three days have been an absolute moonshot for BAT (Basic Attention Token), seeing a rise of more than 85%.

Today’s “black swan” style crash, however, has caused massive pullbacks all throughout the crypto markets, and BAT has not been immune to the slaughter.

Recommended: Basic Attention Token Skyrockets Amid Crypto Market Crash

Since finding a new all-time high today of $1.88, it has since pulled back more than 26%, and is currently trading at $1.39 at the time of writing.

Bat Token: Key Levels To Look For

BAT set some key levels of resistance back in March and April of this year at $1.45 and $1.69 respectively, which can be seen as the horizontal lines on the chart below.  Earlier today, it had blasted past all resistance points, only to now find itself back below those levels, leaving a long bearish wick to the upside in its wake.

 

A Lesson In Bearish Divergence

Arguably, BAT was already due for a pullback even without the black swan.  Case in point: the daily and weekly charts are forming a “bearish divergence” between the higher high printing on the price action chart, and the lower high printing on the Relative Strength Index (RSI) momentum oscillator.

 

This bearish divergence on the higher time frames suggests that BAT might be in for a prolonged correction.  However, that could change quickly if the price can sustain trading activity above our resistance range of $1.45 – $1.69.

Find today’s Bitcoin analysis here.

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The post BAT Token Hits New All-Time High Before Sharp Correction appeared first on CryptosRus.