<em><strong>BAT technical analysis displays a lateral shift in trend after a sharp downfall last week. Will this range lead to a bullish reversal or a drop under $0.35? </strong></em>

Last week, the 25% decline in BAT market value led to a sideways trend above the $0.35 support level. The lower price rejection candles tease an upside reversal, but the 100-day SMA proves a be a crucial resistance barrier. So, should you bet on a bullish reversal or avoid the possible trap?
<h3>Key Points:</h3>
<ul>
 	<li>The BAT price chart shows a growing bearish influence over the daily chart.</li>
 	<li>The 50 and 100-day SMAs maintain a sideways trend in a bearish alignment.</li>
 	<li>With a market cap of $548 million, the intraday trading volume of Basic Attention Token has decreased by 5.14% to reach $36 million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/9/9MOzt1CI.png" alt="BAT/USD Price Chart" width="2047" height="1057" />

Source - <a href="https://www.tradingview.com/x/9MOzt1CI/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>BAT Technical Analysis</h2>
The bullish failure to cross the $0.45 supply zone resulted in a remarkable downfall in BAT market price. The declining trend deteriorated the market value by 25% within a week resulting in a drop to the $0.35 support level.

However, the buyers questioned the falling prices with a Morning Star pattern leading to a sideways trend about the $0.35 support level. Moreover, the lack of meaningful activities in the <a href="https://www.cryptoknowmics.com/news/why-trading-volume-matters-in-crypto-investment/" target="_blank" rel="noopener">trading volume</a> during the low price rejection candles questions the bullish commitment.

Meanwhile, the 50 and 100-day SMAs maintain a lateral trend in a bearish alignment slightly above the market price, providing overhead resistance.

Despite the support of $0.35, the buyers struggling to drive the price higher indicate weakness in bullish momentum. Thus, a possible fallout of $0.35 will intensify the bearish momentum and plummet the prices by 25% to hit June low support at $0.26.

On a contrary note, a bullish breakout from the immediate resistance of $0.38 will drive a bull cycle to $0.45 to continue the previous consolidation range.
<h2>Technical Indicators</h2>
The RSI slope losing momentum to climb higher indicates the sellers are wrestling for control. Moreover, the fast and slow lines maintain a significant gap of bearish alignment, indicating sustained selling pressure in the market.

Hence the technical indicators represent a weakness in the underlying bearishness and increase the possibility of an uptrend in BAT prices.

Resistance Levels: $0.38 and $0.45

Support Levels: $0.35 and $0.26

BAT Prices At $0.35 Struggle To Rise With The Recovering Market  

BAT price action displays a lateral shift in trend after a sharp downfall last week. Will this range lead to a bullish reversal or a drop under $0.35? 

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 Prices At $0.35 Struggle To Rise With The Recovering Market

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