The Basic Attention Token (BAT) price has possibly completed a bearish impulse pattern with a breakout from the descending wedge it had been trading in for the past month.
If true, the price is expected to continue moving upwards in either an upwards correction or a new bullish impulse.
BAT Reclaims Support
The BAT price has been moving downwards since it reached a high of $0.443 on Aug 21. The decrease was swift and caused a breakdown from an ascending support line that had previously been in place since the March 13 low.
After breaking down, the price validated the line as resistance and continued its descent until it reached a local low of $0.201 on Oct 20.
Currently, the price is trading very close to the $0.217 support area, which is also the 0.618 Fib level of the entire upward move. If the price begins moving upwards, the closest resistance area is found at $0.277, a level created by the highs that validated the aforementioned ascending support line.
