Basic Attention Token Price Analysis – 3rd March 2021

Basic Attention Token (BAT) market cap currently stands at US$829 million with US$300 million in trade volume over the past 24 hours. BAT is ranked 74th on the Brave New Coin market cap table. The BNB price is down 36% in the last 7 days, and 109% in the last month.

About Basic Attention Token

Basic Attention Token is an Ethereum (ETH) based ERC-20 token, designed to be exchanged between publishers, advertisers, and users. Brendan Eich is the founder and CEO of BAT, the creator of Javascript, and co-founder of Mozilla and Firefox. The token is designed to put a value on user attention.

The project encompasses an open-source, decentralized ad exchange platform, designed to address fraud and opaqueness in digital advertising. The BAT ecosystem also includes Brave, an open-source, privacy-centered browser designed to block trackers and malware. The Brave browser decreases page load times by blocking ads, while enabling micropayments between publishers and content creators, and provides an alternative to ad-based revenue streams.

When a user opts into Brave Rewards they start seeing Brave Ads and accumulate BAT, which they can claim on a monthly basis via the integrated wallet. Users can customize how many ads they’d like to see, 1 to 5 per hour, or choose not to see any ads.

Brave Ads do not replace current web page ads, they are separate and uniquely different. Users see them as offers in the form of notifications. When users click to engage with these notifications, they’re presented with a full-page ad in a new ad tab of the Brave browser. Because ad matching happens directly on the user’s device, the user’s data is never sent to anyone, including Brave.

Users can donate the BAT earned from viewing Brave Ads to their favorite websites, YouTube creators, or Twitch streamers. In its 2021 roadmap Brave announced in February that it would be launching a new Brave wallet, and a range of other initiatives to support the decentralized economy. According to desktop browser statistics from Kinsta, Google Chrome currently has a 73% market share, and Brave has 0.05%.

Technical Analysis

Roadmaps for future market movements can be found on high timeframes using Exponential Moving Averages, Volume Profile Visible Range, Pivot Points, Ichimoku Cloud, and divergences. Further background information on the technical analysis discussed below can be found here.

Watch full BAT Coin Technical Analysis on YouTube

Historically, BAT/USD has remained range bound since the first exchange listing in 2018. On the BAT/USD daily chart, the 50-day and 200-day Exponential Moving Averages (EMAs) have been bullishly crossed since January 17th, 2021. Both the 50-day EMA, at US$0.45, and 200-day EMA, at $0.31, should now act as support. Very little volume support (horizontal bars) exists until the US$0.26 zone, additional volume support sits in the US$0.34 zone.

Turning to the Ichimoku Cloud, four metrics are used to indicate if a trend exists; the current price in relation to the Cloud, the color of the Cloud (red for bearish, green for bullish), the Tenkan (T) and Kijun (K) cross, and the Lagging Span. The best entry always occurs when most of the signals flip from bearish to bullish, or vice versa.

Daily Cloud metrics, with doubled settings (20/60/120/30) for more accurate signals, are currently bullish; the spot price is above the Cloud, the Cloud is bullish, the TK cross is bullish, and the Lagging Span is above Cloud and above price. The trend will remain bullish as long as the spot price is above the Cloud. Kijun support currently sits at US$0.46.

Both the BAT/BTC and BAT/ETH pairs are neutral to bearish with prices below the 200-day EMA and below the daily Cloud. Potential long entry conditions will trigger when prices move above these key trend metrics. Immediate upside resistance for the BAT/BTC pair and BAT/ETH sits at 1,700 sats and 0.0005 ETH, respectively.