Market Analysis

BAT Technical Analysis – The liquid support

Since BAT began trading on the open market, this monthly grey area of support has held and provided liquidity multiple times for price to push higher. Relative to most digital asset’s price action, BAT’s PA has been stuck in the [$0.12-$0.47] range for an entire twelve-months.

Being that the lower limit has been retested many more times than the upper limit, price will need to break to the upside soon. Otherwise, the lower limit would get depleted from buyers resulting in a downside break and price exploration.

The weekly timeframe is communicating a certain level of strength in BAT’s PA for the time being. The latter was able to cross the $0.25 blue region. If a weekly candle closes above it, the next target would become $0.32, followed by $0.47.

These are all swing targets, consolidation and retracements between these levels are to be expected as always.

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