BAT Technical Analysis: Sellers Regain Control, Warns 50-day SMA Fallout

BAT prices show a falling trend, ready to crack under the $0.35 mark after the buyers failed to surpass the $0.43 mark. Key technical points: The BAT market price has decreased by 4.16% over the past 24 hours. The price action shows the retracement trying to stick to the 50-day SMA. The 24-hour trading volume of Basic Attention Token is $92.78 Million, indicating a rise of 71%. Past Performance of BAT The bullish reversal in BAT prices from $0.28 surpasses the long-coming resistance trendline to reach the overhead resistance at $0.43. The reversal rally accounts for a price jump of 45% between June 19th and 25th. However, the sellers quickly overtook the trend control resulting in a drop to $0.35 with an increase in selling pressure. Source- Tradingview BAT Technical Analysis The BAT buyers struggling to sustain above the 50-day SMA and the higher price rejection in the previous daily candles warn of a downtrend continuation. Hence, traders can expect a selling opportunity shortly when the prices close under the $0.35 mark. The most crucial SMAs 50, 100, and 200 days marked as orange, red, and black are in a bearish alignment, displaying a solid underlying bearishness. Additionally, the reversal trend struggling to hold over the 50-day SMA is a clear bear cycle indication. The MACD and signal lines show an uptrend takes a lateral shift in trend near the zero line, trying to keep the alignment positive. Thus, the indicator warn...