<em><strong>The BAT price action shows a bearish reversal as the buyers fail to push the trend above $0.22, resulting in a retest of the $0.20 breakout.</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The Basic Attention Token price dropped by 20% last week.</li>
 	<li>The bearish reversal rally breaks below the 50-day EMA and warns of the $0.35 fallout.</li>
 	<li>With a market cap of $549 million, the intraday trading volume of Basic Attention Token has increased by 25% to reach $65.98 million.</li>
</ul>
<h3>Past Performance of BAT</h3>
The BAT price action shows a bullish failure to sustain above the 100-day EMA due to the increased supply pressure at the $0.46 horizontal zone. The reversal rally breaks below the 50-day EMA and challenges the buyers at the crucial support level of $0.35, accounting for a 20% price drop. Moreover, the streak of four bearish candles with higher price rejection increases the possibility of a downtrend continuation as the selling price increases.

<img src="https://s3.tradingview.com/snapshots/0/0Ia5JnIP.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/0Ia5JnIP/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>BAT Technical Analysis</h2>
The BAT prices might shortly reach the crucial support of $0.28 if the <a href="https://www.cryptoknowmics.com/news/finance-minister-of-india-says-crypto-buyers-should-exercise-caution/" target="_blank" rel="noopener">buyers</a> fail to maintain dominance at the $0.35 mark. Hence traders can soon find a selling opportunity if the horizontal support level falls. As the market price falls below the 50-day EMA, the possibility of a bullish crossover between the 50 and 100-day EMA nullifies.

The daily RSI slope displays a remarkable increase in the underlying bearishness as it drops into the nearly overbought zone. Moreover, the MACD indicator signals a selling opportunity with the recent bearish crossover with a boom in bearish histograms. Hence the technical indicators maintain a bearish bias for the upcoming trend.

In a nutshell, the BAT technical analysis signals an upcoming short selling opportunity as the increased selling pressure threatens a fall below $0.35
<h2>Upcoming Trend</h2>
BAT prices might continue the downtrend, resulting in a 22% drop to take support at $0.28 if the $0.35 support level falls.

However, a bullish turnaround from $0.35 might re-challenge the sellers at $0.45

Resistance Levels: $0.40 and $0.45

Support Levels: $0.35 and $0.28

BAT Technical Analysis: Bear Cycle Warns 20% Price Drop This Month

The BAT technical analysis shows a bearish reversal as the buyers fail to push the trend above $0.22, resulting in a retest of the $0.20 breakout.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

BAT Technical Analysis: Bear Cycle Warns 20% Price Drop This Month

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