Maker, EOS Basic Attention Token Market Analysis for 19th January 2021

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MKR moved within a fixed channel, and while the price was bullish, it was unlikely to rise above its press time resistance zone. EOS looks at the breakout from its press time channel to touch the $2.91 resistance mark. BAT formed an ascending triangle on the map, and a northbound breakout can be seen in the coming days.

Maker [MKR]

Source: MKR/USD, TradingView

Maker traded between $1,563.54 and $1,352.01 as the momentum changed between buyers and sellers over the last few days. Gains in the wider market have once again moved MKR towards its upper ceiling, but a greater change in momentum could be required for an upward breakout. The measures produced mixed signals and indicated that it was possible to shift in any direction.

The Awesome Oscillator switched back and forth between the two ends, but at the time of writing, it was bullish.

On the other side, the Chaikin Capital Movement was looking to move below the half-line, indicating that money was flowing away from the crypto-asset.

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Source: EOS/USD, TradingView

Taking cues from the larger market, EOS was trying to split over its $2.91 and $2.72 channel, the area where it traded for the past five days. Ascension to the price list could see EOS challenge the next $3.12 resistance. On the other hand, a wider market pullback might see EOS trading shift ahead within its current channel.

In the near-term, the leverage could remain with the bears as the Relative Strength Index plummeted into a neutral position. If the index moves into the oversold area, the price can fall on the charts.

The On Balance Volume indicated a lack of confidence in the market as the index pushed flat at a slower pace.


Basic Attention Token [BAT]

Source: BAT/USD, TradingView

A peek at the 4-hour map showed that BAT was the ascending triangle. An upward break from the trend could see BAT climb to its August 2020 level and begin a new, local high. If the price is smaller than the pattern, the support should be checked at $0.265.

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The fast-moving line of the MACD passed above the signal line after missing a bearish convergence. Furthermore, the bars on the histogram showed that the price was bullish.

The price increase over the past week was backed by an increase in buyer numbers, as the On Balance Amount grew in parallel with the price.



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