• The BAT /USD pair is still in a range bound move between the levels of $0.30 and $0.40.
• On July 4, the  bears broke the lower price and the downtrend was corrected at the $0.2000 price level.

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. Yesterday, July 21,  the BAT price was resisted at the 12-day EMA after four days  of an upward move above $0.2000 price level. On July 4, the  bears broke the lower price and the downtrend was corrected at the $0.2000 price level.

The $0.2000 support level is holding  as the bulls make an upward move to reach the previous highs. Traders should initiate long trade at the lower price level in anticipation of a bullish trend .    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. Meanwhile, the BAT price is in the oversold region of the daily stochastic but above the 20% range. This indicates that price is in a bullish momentum and a  buy signal.

BAT/USD Short-term Trend: Bullish

On the 1-hour chart, the price of BAT is in a bullish trend . The 12-day EMA and 26-day EMA are trending upward. The EMAs is flattening below the $0.25000 price level indicating that price is ranging. Traders should look out for a buy setup in order to initiate long trades. 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.