Basic Attention Token has lost the mid-point of its price range over the past few weeks to bulls, falling towards $0.2. Meanwhile, Bitcoin has fallen by 13 percent and Ethereum by 17 percent over the last 24 hours. The ETH pullback saw a wick as low as $1001 but no more than the sellers jumped in to push up prices. EOS lost a critical level of $3.
Basic Attention Token [BAT]
The $0.29 area saw BAT face sales pressure and sink to $0.27, and the latest hours of sales pressure pushed rates down by another 21 percent.
The MACD displayed a bearish divergence as BAT rose to $0.29, forecasting a decline to $0.27. Subsequently, the selling pressure on BTC and ETH played a significant role.
This decline meant that BAT was back in the range between $0.2 support and $0.27 resistance. The mid-point of this range is at $0.232, and BAT’s move below it meant a move to $0.2 is in order.
The longer-term view suggested that the pull-back was a safe refresh of the heavy upside momentum. Moving step-by-level, the security of $1000 was decided, with a level of help below $975. The next area of concern will be the 50 per cent retracement stage at $850, with horizontal support at $835.
A retest of the $1150 mark accompanied by a denial would suggest imminent bearishness, whilst a trading session close above that level would give the bulls hope.
The RSI sunk below neutral 50 to display short-term bearishness, while the Stochastic RSI was in the oversold area. These signs pointed to a marginal increase for ETH, followed by a refusal in the $1150 area.
A couple of days ago, EOS reclaimed the $3 mark, a big bullish creation. It soared past $3.35 and managed to flip $3.67 but plunged hard in the last few trading sessions.
Amounting almost 28 per cent of losses over the last 20 hours at the time of publishing, EOS lost the crucial $3 mark once again when it traded at $2.78.
The OBV has shown that the past round of sale almost undid all previous accrued sales, likely bringing EOS back on square one. Its next direction is likely to be determined by ETH.
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