• On the upside, if the bulls break above the EMAs, the crypto's price will rise to the range-bound zone.
• Meanwhile, the BAT /USD pair is still in a range-bound move between the levels of $0.30 and $0.40.

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

Yesterday, July 24, the price of BAT was retracing after being resisted at the 12 days EMA. On July 16, after the downward trend correction at the $0.20 price level, the bulls made an upward move to break above the EMAs. The bulls are facing resistance at the 12-day EMA.

On the upside, if the bulls break above the EMAs, the crypto's price will rise to the range-bound zone. On the other hand, if the bulls fail to break the EMAs, the price will commence a range-bound move below the EMAs. Meanwhile, the BAT /USD pair is still in a range-bound move between the levels of $0.30 and $0.40.

The 12-day EMA and the 26-day EMA 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.

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 above the 20% range. This indicates the price is in a bullish momentum and a buy signal.

BAT/USD Short-term Trend: Ranging

On the 1-hour chart, the price of BAT is in a bearish trend zone. The 12-day EMA and 26-day EMA are sloping horizontally. In the lower timeframe, the BAT price is in choppy price action. The resistance and support level can not be determined. 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.