The Basic Attention Token price has cleared resistance at $1.3880 and looks set to target its all-time high of $1.6505 on renewed investor interest.
After spending much of 2020 languishing in the $0.2000 to $0.4000 range, the token that powers the Brave browser, once again has investors paying attention.
The Basic attention token price has seen a resurgence in 2021, and its current momentum looks likely to see it extend on its recent performance. Its trajectory puts it on a path to test April’s (and all-time) high at $1.6505.
Launching in 2017, the Basic attention token was one of the fastest-selling initial Coin offerings to date, raising $35 Million in under a single minute. The excitement around the launch saw the Basic Attention price gain 930% in its first four months of trading, taking the token to its previous $1.0824 peak.
Like many of its peers, the Basic Attention price had struggled since the crypto markets’ first bull run, only to see a resurgence of interest in 2021.
In echoes of 2017, the first four months of this year saw the Basic Attention price return 840% to holders before giving back 50% of those gains in the early April Cryptocurrency massacre.
Down but not out, the token has since staged a miraculous recovery and now has its ATH firmly in the crosshairs.
BAT Technical Outlook
Technicals seem to be improving for the Basic Attention token price. If the market can establish itself above resistance at $1.3880, there is potential for a further 16% price rally to the ATH.
The four-hour chart shows us this level has proven resilient on many previous occasions, initially capping the price rally in March.
After peaking in April, the Basic Attention Price soon found itself back at the $1.3880 mark, bouncing four times from this support before it eventually gave way.
With the price currently trading at $1.3970, its performance at this key level will dictate if the recent rally has more legs to run.
I maintain a bullish bias for the Basic Attention token price. However, a move below the $1.3880 threshold could see a return to $1.3300. Here the price meets an ascending trend, from the 22nd of April high at $1.2450. A failure to hold this marker would invalidate the bullish outlook in the short term.