BAT/USD finds support in SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The price for the Basic Attention Token has been declining supported by a descending trend line. Most recently, the support of the 50-4 hour period simple moving average approached the trend line.

It caused a surge, which could encounter resistance at 1.0750. Near that level a potential upper trend line of a channel down pattern is located at. The channel is drawn by connecting the November low levels and setting the upper trend line at the November 2 high level.

If the BAT/USD pair passes the resistance of the channel down pattern, the pair could aim at the November 2 high level at 1.1096.

On the other hand, a potential decline would find support in the 50-period SMA near 0.9520. Below the SMA, the lower trend line of the channel pattern could provide support. In addition, the October 29 high levels might act as support.

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