{"id":372807,"date":"2021-11-26T16:26:52","date_gmt":"2021-11-26T13:26:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bat-price-hits-new-high-after-30-daily-rally-as-basic-attention-token-bucks-crypto-downtrend\/"},"modified":"2021-11-26T16:26:52","modified_gmt":"2021-11-26T13:26:52","slug":"bat-price-hits-new-high-after-30-daily-rally-as-basic-attention-token-bucks-crypto-downtrend","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bat-price-hits-new-high-after-30-daily-rally-as-basic-attention-token-bucks-crypto-downtrend\/","title":{"rendered":"# BAT price hits new high after 30% daily rally as Basic Attention Token bucks crypto downtrend"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a42162d43c56\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a42162d43c56\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bat-price-hits-new-high-after-30-daily-rally-as-basic-attention-token-bucks-crypto-downtrend\/#BAT_snubs_crypto_crash\" >BAT snubs crypto crash<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bat-price-hits-new-high-after-30-daily-rally-as-basic-attention-token-bucks-crypto-downtrend\/#Bullish_indicators_in_play\" >Bullish indicators in play<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># BAT price hits new high after 30% daily rally as Basic Attention Token bucks crypto downtrend <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Basic Attention Token (BAT)\u00a0rallied to a new record high on Nov. 26 even as global markets plunged in tandem on fears about a highly mutated variant of Covid19 detected in South Africa.<\/p>\n<p>BAT&#8217;s price surged over 30% on Friday to reach $1.88 for the first time in history, with its market capitalization rising to $2.74 billion. Its climb <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared in contrast to the cryptocurrency market that lost up to nearly $283 billion in the same period.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/f834ad9b-fea6-41aa-9ccd-7813afd3fa98.png\"><figcaption style=\"text-align: center;\"><em>BAT market capitalization. Source: CoinMarketCap<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"BAT_snubs_crypto_crash\"><\/span>BAT snubs crypto crash<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin (BTC), the world&#8217;s largest cryptocurrency by market capitalization, led the losses by falling by as much as 7.5% to under $54,000. Ether (ETH), the second-largest crypto, dropped over 9% to almost $4,000. Solana (SOL), Cardano (ADA), XRP, Binance Coin (BNB), and other tokens plunged in sync.<\/p>\n<p>Crypto traders flocked to BAT \u2014 possibly \u2014 because of its comparative lower positive correlation with the top digital assets. According to data tracker <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptowat.ch\/correlations\">CryptoWatch<\/a>, the 30-day correlation coefficient between Basic Attention Token and Bitcoin was 0.24, and the same versus Ether was 0.27.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/3928638a-8af5-4677-ab30-26b65b06e9b8.png\"><figcaption style=\"text-align: center;\"><em>BAT&#8217;s correlation efficient against top crypto assets. Source: Crypto Watch<\/em><\/figcaption><\/figure>\n<p>That somewhat explains why BAT was able to ignore the market-wide downtrend Friday.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bullish_indicators_in_play\"><\/span>Bullish indicators in play<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>BAT&#8217;s price rally to its record high prompted traders to secure their interim profits im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely.\u00a0As a result, the token corrected by more than 20% after hitting $1.88, thus returning below its strong resistance area around $1.50. <\/p>\n<p>In detail, the $1.50-level served as resistance to two technical setups developing on BAT charts since April. First, the level constituted what now appears to be a bullish Cup and Handle pattern. And second, it assisted in forming a broad Ascending Channel setup, as shown in the chart below.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/f2428143-dbc7-4984-9311-8290259a06aa.png\"><figcaption style=\"text-align: center;\"><em>BAT\/USD three-day price chart featuring Cup and Handle and Ascending Triangle setups. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>At press time, BAT was in the first part of the Cup and Handle pattern, making a rounding bowl bottom called the cup. The second part, should it appear, will be a price correction inside a descending channel range, called handle.<\/p>\n<p>A decisive breakout from the handle&#8217;s trading range and $1.50-resistance may have traders eye a run-up higher to a level at length equal to the maximum Cup and Handle pattern&#8217;s height. That roughly puts the BAT price en route to $2.75 in the coming sessions.<\/p>\n<p><strong><em>Related:\u00a0Crypto Thanksgiving: NFT drops and Black Friday deals go mainstream?<\/em><\/strong><\/p>\n<p>Meanwhile, the profit target for the BAT&#8217;s ascending triangle pattern \u2014 confirmed by more than two higher lows and a flat upper trendline \u2014 comes to be over $2.90 after measuring the structure&#8217;s maximum height from its potential breakout point near $1.50.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/99005af6-9eec-47bb-80cb-283a3a5b7d66.png\"><figcaption style=\"text-align: center;\"><em>BAT\/USD three-day price chart featuring Ascending Triangle breakout target. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Conversely, a break below the Triangle&#8217;s lower trendline would risk invalidating the bullish setup, including the Cup and Handle. Should it happen, the next resistance level appears near $0.56 for a final bearish confirmation.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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BAT&#8217;s price surged over 30%&#8230;<\/p>\n","protected":false},"author":1,"featured_media":372808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvMmNiYTE4NjctNTFhOC00NjA2LWI0NmMtYzcxZTIxYjg4MmZlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,78236,78235,74938,74939,78261,1545,73785,70359],"class_list":["post-372807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-basic-attention-token","tag-brave-browser","tag-ethereum-price","tag-market-analysis","tag-tech-analysis","tag-coronavirus","tag-markets","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/372807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=372807"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/372807\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/372808"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=372807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=372807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=372807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}