The chart represents Basic Attention Token (BAT) vs. Tether (USDT) on Binance (1W timeframe).
The current price is $0.1501, with a strong bounce from the identified support zone.
The token has experienced a significant price surge, breaking above key resistance levels.
Key Observations:
Major Support Zone:
The highlighted support zone has historically acted as a strong demand area, preventing further downside.
This level has held multiple times since 2020, confirming it as a key accumulation zone.
Recently, the price bounced strongly from this level, signaling renewed buying interest.
Breakout & Bullish Momentum:
Following the retest of the support zone, BAT has exploded upwards with strong bullish candles.
The sharp increase in volume indicates growing interest and accumulation.
This breakout suggests a potential trend reversal or at least a medium-term rally.
Next Resistance Levels:
The price has already gained strong momentum, but some potential resistance zones to watch:
$0.35 - $0.40 → Previous consolidation area.
$0.50 - $0.60 → Psychological resistance and past key levels.
$1.00+ → If the bullish momentum continues, a return to the 2021 highs could be possible.
Market Sentiment & Strategy:
The strong breakout and volume surge suggest continuation towards higher levels.
A healthy pullback or retest of previous breakout levels could present good re-entry opportunities.
Traders should monitor weekly closes to confirm sustained momentum.
Potential Trade Setups:
Bullish Scenario:
If momentum continues, BAT could test $0.35 - $0.40 in the short term.
A successful breakout above $0.50 could open doors for a rally toward $1.00 in the coming months.
Bearish Scenario:
If BAT faces rejection at higher resistance, a pullback to $0.20 - $0.25 may offer a better entry point.
Losing the support zone (~$0.12 - $0.15) would invalidate the bullish structure, leading to further downside risks.
Conclusion:
BAT has made a strong recovery from its long-term support zone, signaling bullish momentum. If the trend continues, the next key resistance zones ($0.35 - $0.50) could be tested soon. However, traders should watch for possible pullbacks for better entries.
Basic Attention Token (BAT/USDT) – Weekly Chart Analysis
Overview:
The chart represents Basic Attention Token (BAT) vs. Tether (USDT) on Binance (1W timeframe).
The current price is $0.1501, with a strong bounce from the identified support zone.
The token has experienced a significant price surge, breaking above key resistance levels.
Key Observations:
Major Support Zone:
The highlighted support zone has historically acted as a strong demand area, preventing further downside.
This level has held multiple times since 2020, confirming it as a key accumulation zone.
Recently, the price bounced strongly from this level, signaling renewed buying interest.
Breakout & Bullish Momentum:
Following the retest of the support zone, BAT has exploded upwards with strong bullish candles.
The sharp increase in volume indicates growing interest and accumulation.
This breakout suggests a potential trend reversal or at least a medium-term rally.
Next Resistance Levels:
The price has already gained strong momentum, but some potential resistance zones to watch:
$0.35 - $0.40 → Previous consolidation area.
$0.50 - $0.60 → Psychological resistance and past key levels.
$1.00+ → If the bullish momentum continues, a return to the 2021 highs could be possible.
Market Sentiment & Strategy:
The strong breakout and volume surge suggest continuation towards higher levels.
A healthy pullback or retest of previous breakout levels could present good re-entry opportunities.
Traders should monitor weekly closes to confirm sustained momentum.
Potential Trade Setups:
Bullish Scenario:
If momentum continues, BAT could test $0.35 - $0.40 in the short term.
A successful breakout above $0.50 could open doors for a rally toward $1.00 in the coming months.
Bearish Scenario:
If BAT faces rejection at higher resistance, a pullback to $0.20 - $0.25 may offer a better entry point.
Losing the support zone (~$0.12 - $0.15) would invalidate the bullish structure, leading to further downside risks.
Conclusion:
BAT has made a strong recovery from its long-term support zone, signaling bullish momentum. If the trend continues, the next key resistance zones ($0.35 - $0.50) could be tested soon. However, traders should watch for possible pullbacks for better entries.