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Basic Attention Token (BAT) Technical Analysis – BAT Nears A Golden Cross

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Basic Attention Token
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Basic Attention Token (BAT) is an open-source, decentralized digital advertising platform based on Ethereum (ETH). BAT held its ICO nearly a year ago on May 31, 2017, raising approximately $35M in less than 30 seconds, quite a feat. The Token itself is designed to correctly value and price user attention within the platform.

The Basic Attention Token digital advertising platform is comprised of various components, including a digital advertising exchange, attention measurement systems, analytics dashboards and machine learning algorithms. Integration of BAT into a given host application involves implementing BAT Ads, a system that matches and displays ads to users based on locally stored data. Ad targeting is performed wholly on-device, removing the need for third-party tracking.

The BAT Utility Token is designed to monetize human attention with a pay to surf business model, serving as the unit of account within the platform:

  • Advertisers purchase advertising space and user attention on the platform with BAT tokens.
  • Publishers receive user contributions and advertising revenue in the form of BAT tokens.
  • Users will be paid in BAT for viewing BAT ads.

Elements of the Basic Attention Token platform have been integrated into the Brave web browser as part of its Brave Payments program. Brave Payments, which formerly used Bitcoin (BTC), allows users to tip websites and content creators such as YouTubers and Twitch streamers with BAT tokens, akin to patronage services like Patreon.

Notable publishers who accept BAT tokens include the Washington Post; The Guardian; Vimeo; MarketWatch; Barron’s and Vice. Quite the distinguished clientele.

With that behind us, let’s take a look at the technical picture as BAT continues to display favorable technical characteristics as we can observe from the daily chart below:

As we can witness above, after breaking-out in mid-April on six-times – 6X its average daily volume, BAT continues to display favorable technical characteristics trading above both its 50 (dark blue line) and 200 (red line) day moving averages.

We can also observe that the 50DMA appears ready to cross up-and-above its 200DMA, which should such development materialize in the days ahead, would signify the notable Golden Cross, another technical positive for BAT.

While BAT remains in a favorable technical posture, there remains further work ahead as BAT presently finds itself contending with a former congestion zone highlighted in the shaded box observed above.

Thus, moving forward, both investors/traders may want to pay particular attention to potential levels of short-term resistance as well as support in order to garner additional clues/evidence with respect to direction.

If, at any time in the days/weeks ahead, BAT can clear the .45-.50 zone and perhaps, more importantly, the .55 (recent high) level, such development, should it materialize, would more than like set the stage for its next meaningful advance with a potential objective into the .70 area. On the flip-side of the coin, both investors/traders may want to utilize the .32 level as a potential area of short-term support, which just so happens to coincide with its 50 and 200DMA’s.

Nevertheless, despite overall slippery conditions throughout the cryptocurrency tape, BAT continues to stand-out from a technical perspective, whereby investors/traders may want to continue to monitor the action with a close eye moving forward.

Happy Trading!!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Chart courtesy of tradingview.com

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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