In the cryptocurrency world, there are always intriguing market trends to keep an eye on. While Bitcoin is still trying to find solid footing, the Basic Attention Token price is moving up rather swiftly. Its solid gains push the currency toward the market cap top 30. A very interesting trend under these rather bearish market circumstances.

Basic Attention Token Price Moves up

When all of the top markets deal with either small gains or minor losses, it is only normal there is a lack of genuine excitement. When looking further down the crypto market rankings, however, some interesting changes quickly become apparent. Some currencies note pretty interesting trends, even though there isn’t always a reason for such a bullish trend.

Over the past few hours, the Basic Attention Token price noted a 6.5% gain across all markets. Its USD value rose to $0.1275, whereas the token is now worth 3,520 Satoshi or 0.001 Ether. All of these values are pretty impressive in their own regard, as neither Bitcoin nor Ethereum is doing badly at this time. Sustaining this growth may pose its own challenges along the way.

When pump groups and trading bots on Twitter begin paying attention to a specific price trend, one automatically knows the top has most likely been reached. Unfortunately for BAT, it is on the radar of xTradeBot, as this bot already sold its profits earlier today on the Binance platform. Interestingly enough, the current value is lower than that original buy order, which seems to indicate a downtrend trend may materialize.

For traders and speculators who keep a very close eye on the current BAT price chart, it quickly becomes evident an inverted head and shoulder pattern is forming. This could lead to another leg up after the next minor downtrend, which is something to keep an eye on over the coming days. Charts like these do not always play out as originally assumed, though.

For those who assume the BAT trend will continue down its bullish path, there is a chance the value may continue to rise for a bit. No big gains are to be expected, according to Crypto99, although there is still a chance some key resistance levels will be broken over the coming hours. Chasing the top in search of profits is never an advisable course of action.

All of the current signs point toward Basic Attention Token topping out pretty quickly. That is not uncommon when a token like this starts to surge out of the blue. A 6% gain is not bad by any means, but no one should expect this figure to double anytime soon. As such, the current level may be maintained to create a new support level over the coming hours.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

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