• The BAT /USD pair is still in a range bound move between the levels of $0.30 and $0.40.
• Traders should look out for a buy setup in order to initiate long trades.

BAT /USD Medium-term Trend: Ranging

• Resistance Levels: $0.36, $0.38, $0.40
• Support Levels: $0.32, $0.30, $0.28

The BAT /USD pair is still in a range bound move between the levels of $0.30 and $0.40. Traders are look out for buy setups in order to initiate long trades at the lower price range. All the false breakouts have retraced back to the range bound zone. The moving averages were sloping horizontally in between price range.

The crypto’s price is also characterized by small body candlesticks like the Doji and the Spinning tops. The candlesticks described the indecision between the buyers and the sellers at the current market price. The small body candlestick contributes to choppy price action. The small body candlestick contributes to poor price movement.

Their continued presence will determine the duration of the range bound movement. Meanwhile, the BAT price is in the oversold region of the daily stochastic but below the 40% range. This indicates the price is in a bearish momentum and a sell signal.

BAT/USD Short-term Trend: Bullish

On the 1-hour chart, the price of BAT is in a bullish trend zone. The 12-day EMA and the 26-day EMA are sloping horizontally. In the daily chart, the crypto’s price is consolidating at the lower price range for a possible breakout.  Meanwhile, the BAT price is in the overbought region of the daily stochastic but above 60% range. This indicates that price is a bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.