Basic Attention Token (BATUSD)

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BAT/USD - Basic Attention Token (BAT) was featured on Cointelegraph on March 4 when its price was at $0.675. Since then, the token jumped to $1.369 on March 17. That’s a 102% rally within a fortnight. This shows that traders should nurture and hold on to the tokens that have strong fundamentals backing them.

Gaining support from the right investors can many times make a lot of difference to a project. Therefore, when Grayscale CEO Michael Sonnenshein announced on March 17 that BAT was one of the five tokens added to the Grayscale lineup, it was bound to stir interest among the community. This increases the possibility of greater institutional interest in the token.

In addition to this, Japan’s bitbank exchange announced it will add support to BAT from March 17. This step increases the reach and demand for BAT among crypto-savvy Japanese investors.

Fresh investors enter a project only if they see a possibility of further earnings. The Brave transparency page recently showed that about 100 active advertisement campaigns from the U.S. were running on the Brave browser.

A whitepaper “Engaging with Ad Choosers,” by Dentsu international and Brave shows that ads on the Brave browser outperform the traditional digital campaigns on key branding metrics. As the number of users increase, advertisers are bound to take note.

With Google embroiled in a lawsuit for collecting data even in Incognito mode, users interested in protecting their privacy could look for alternatives and that may lead them to Brave browser.

BAT has been in a strong uptrend for the past few weeks. Both moving averages are sloping up and the relative strength index (RSI) is in the overbought territory, which suggests the bulls are in control.


BAT/USDT daily chart. Source: TradingView
The token picked up momentum on March 16 when it rose above the overhead resistance at $0.89. However, the long wick on the March 17 candlestick and the Doji candlestick pattern today suggest the bulls may be tiring out.

The first support on the downside is the 38.2% Fibonacci retracement level at $1. This is also a psychologically critical support. If the price rebounds off this level, the bulls will attempt to resume the uptrend. A break above $1.38 could clear the path for a rally to $2.

On the contrary, if the bears sink the price below $1, the BAT/USD pair could drop to the 20-day exponential moving average ($0.81). A bounce off this level will suggest the uptrend remains intact, but a break below it could intensify the selling and sink the price to the 50-day simple moving average ($0.58).

https://cointelegraph.com/news/here-s-why-siacoin-basic-attention-token-and-linear-lina-are-soaring