Friday, January 28

The BAT token just hit a new all-time high. Here’s what’s driving the price

It is already four days of continuous profit that the BAT token accumulates, despite the little positivism that has been seen in the crypto market lately.

As of this writing, the Basic Attention Token is trading at $ 1,363, losing 4% in today’s session and a gain of 28% in the last 7 days. Thanks to this, now its market capitalization is $ 2,042 million, thus occupying the 73rd position in the Crypto Online ranking.

BAT is Brave’s native token, which is a browser primarily focused on offering as much privacy as possible and rewarding content creators in the most equitable way.

Thanks to what it offers, the user base of this browser has increased exponentially in recent years. Monthly active users have almost doubled since February this year (the user base went from 25 million to more than 42 million).

In addition to the large growth in its adoption, one of the factors that has most influenced the latest price rally is the recent launch of the native Brave wallet, which is integrated directly into the browser.

The main purpose of this new wallet is to prevent cybercriminals from successfully scamming users by publishing fake wallet extensions such as Metamask.

BAT token technical analysis

In the daily chart BAT vs USDT we see how the price jumped with great force to the upside yesterday. This momentum spread today, however, now the generalized fall of the market is causing problems to continue with the rise of this token.

After hitting an all-time high of $ 1.86 the price is rejecting high prices, hinting that a short-term correction is about to begin.

Even if the price falls, as long as the succession of higher and higher lows are maintained, it is quite probable that the price of Basic Attention Token will continue to climb higher during the next days / weeks.

Weekly chart

From this time frame we see an uptrend in the medium / long term, developing a momentum that should still extend much more.

The BAT token price is currently challenging the resistance left by the previous all-time high, located at $ 1.64. At the moment it is most likely that it will get through this hurdle, and when it does, volatility could increase considerably in favor of the bulls.

The support that must be maintained so that this scenario is not in danger is at $ 1.07.

Technical analysis of the weekly BAT token chart.  Source: TradingView.
Technical analysis of the weekly BAT token chart. Source: TradingView.

All our publications are informative in nature, so in no case should they be followed as investment advice.