It is safe to say that Basic Attention Token (BAT) has been sliding for the past three months. In fact, the overall trend for this token, associated with the Brave Browser, has been downward. Unfortunately, signs point to this bearish movement continuing. Key points:
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BAT is trading about 60% below its record highs from November.
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The token was trading at $0.71 at the time of writing, roughly unchanged from the previous day.
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BAT also remains below both its 50-day and 200-day moving averages.
Data source: Tradingview
Basic Attention Token (BAT) – Why might the bearish trend continue?
Both technical and fundamental factors are currently weighing on BAT. Broadly speaking, sentiment across the crypto market has cooled.
After an early-month rally, many investors are holding back capital while monitoring geopolitical events in Eastern Europe and tighter monetary policy in the United States. On the technical side, BAT’s price action has generally trended downward.
Since reaching all-time highs in November 2021, the token has lost nearly 60% of its value. It also trades well below its 200-day and 50-day simple moving averages. A look at the Relative Strength Index (RSI) suggests BAT has not yet reached oversold territory, which means further weakness could still be possible.
Can investors buy Basic Attention Token (BAT) now?
Yes — the current pullback does present a reasonable opportunity to enter BAT. That said, because further declines remain possible, patience is warranted. Monitor the $0.50 level in the coming days; it could serve as an attractive entry point for both long- and short-term investors.