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BAT & Coinbase: More Upside to come

BREAKING. FOR IMMEDIATE RELEASE AND INFORMED DECISIONS

Coinbase Pro and Coinbase has started trading on BAT or Basic Attention Token as of Monday 5th November. Despite this, the entire market seems to be inclining as Nouvive and Nouvive Research has found. This has caused Nouvive Research to find that both BAT has some more upside coming.

What does the Technical Analysis Say? 

Bullish Bias:

  • Accumulation has increased more in November – despite the coinbase listing – a lot of the open interest has not declined
  • RSI Stochastic is incredibly oversold, the last time we saw this was at $0.23, at the current trading price of $0.312 this could mean we could see $0.43 based on historical trading data.
  • RSI Stochastic on the higher time frames will cross over shortly – especially if $0.30 is tested which is the 15D MA.
  • Volume is decreasing with increased buy side support, this means that we will see price and volume constrained before we shoot off to $0.43
  • If BAT shoots up to $0.43, this could see all the MA’s cross over on  all the higher time frames, seeing a further favourable bias towards the bulls.
  • 15MA is acting as a resistance – traditionally a sight of further bullish momentum.
  • The entire market is inclining – therefore we will not see a dump to the overall market at the moment.

Bearish Bias: 

  • There is a lot of sell side support as BAT seeks to fight its way to $0.43
  • BLACK SWAN Event: Where we could see a lot of the BAT holders sell before $0.33 is tested.
  • 0.33 has acted as a resistance 3 times – this could also a sign of a bull trap before crashing to fill the volume gaps on the way down.
  • A lot of volume gaps on the way down

Nouvive awards a BUY for BAT at current market figures and forecasting $0.43 at the minimum.

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

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