• The 12-day EMA and the 26-day EMA were sloping horizontally indicating a sideways trend.
• Nevertheless, the BAT price is likely to experience a price breakout or a price breakdown in a few days to come if the price continues its range bound move.

BAT /USD Medium-term Trend: Ranging

• Resistance Levels: $0.36, $0.38, $0.40
• Support Levels: $0.34, $0.33, $0.32

Last week the BAT price was in a sideways trend. The crypto’s price had been in a sideways trend since May 12. The BAT price was ranging between the levels of $0.32 and $0.40. The 12-day EMA and the 26-day EMA were sloping horizontally indicating a sideways trend. The range-bound traders can trade a ranging market.

A trader can initiate a short trade if the price test the upper price range and exit such trade near the support zone. Similarly, a trader can initiate a long trade if price test the lower price range and you exit such trade near the resistance zone. Nevertheless, the BAT price is likely to experience a price breakout or a price breakdown in a few days to come if the price continues its range bound move.

BAT/USD Short-term Trend: Ranging

On the 1-hour chart, the price of BAT is in a sideways trend zone. The crypto’s price is fluctuating below and above the EMAs. On June 2, the bulls tested the $0.37 price level and were resisted. The price fell below the EMAs and it is likely to continue  its fall. Meanwhile, the BAT price is in the oversold region of the daily stochastic but below the 20% range. This indicates the price is in a bearish momentum and a sell 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.