BAT token ranks at the 78th position in terms of market capitalization. It is one of those blockchain-based technologies that carry the potential to disrupt the current advertising industry that works on forced ad displays for free content. The current ecosystem is more rewarding for the intermediary than the creators and viewers, and BAT Token addresses this issue by rewarding both creators and viewers for advertisements.
Not only does it cater to the privacy concerns of current-day internet users, but it also cuts down on ad frauds and marketing loss to the advertising companies. Its Brave browser and BAT token ecosystem showcase a strong potential, but despite the potential, there has been limited growth in its actual volumes. Since they are currently using the very advertisement model they intend to disrupt, it has become increasingly complicated for users to trust the BAT ecosystem.
BAT Price Analysis
BAT token has grown significantly in terms of number since its ICO launch in 2017, where it raised over USD 35 million. From the lows of 2020 to the peak of 2021, the BAT token has raised over 1250%. This growth trajectory has entered into a negative zone since the last two months as BAT lost close to 60% of its market value. Currently, $1 has become a major resistance level which can be confirmed by both Bollinger Bands and 200 days moving average. Trading close to the lower band of Bollinger Bands indicates weakness and a red flag for short-term gains. Historical price action showcases a potential to retest the upper band in the next two months.
200 DMA is one such indicator that highlights the growth trajectory in the last 200 trading sessions. The breach of this important level in January was a major blow for BAT investors and holders. Although this does not directly impact their operations, lowering value means less conversion. RSI has also been down to the 40s band, which indicates BAT to be slightly close to oversold zones, indicating lesser buyers than sellers. Based on BAT coin price prediction, it may pull down the value of an asset this time, it can overcome the 200 DMA resistance and trend over it with higher volumes.
Combining volumes to the RSI indicator, we can witness a 50 times decrease in volumes compared to December 2021. Investors should take note of its immediate support level at $0.552 levels, with the first resistance being active around $1 levels.