Basic Attention Token (BAT) breaches $0.40 after 20% surge

Basic Attention Token (BAT) breaches $0.40 after 20% surge
Written by:
Ali Raza
21st August, 13:26
Updated: 21st August, 13:27
  • BAT price reached a new YTD high earlier today, after spiking up by 20%.
  • This was the sharpest surge that the coin has seen, in 2020, and it still shows no sign of slowing down.
  • The coin has just breached the $0.40 mark, and it continues to go further.

Basic Attention Token (BAT) is another of many altcoins that have managed to reach a new YTD recently, thanks to a series of bull runs that took place over the summer. BAT has now gone past $0.40, after growing by nearly 20% in the last 24 hours.

BAT before the mid-March price drop

BAT has not seen that much activity in 2020, at least when compared to other cryptocurrencies. Its YTD chart shows that the token has had plenty of small oscillations throughout the year. Its price is constantly going up and down, but only by a small amount.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

However, the bigger picture shows that the coin has also had a movement that accurately follows the market sentiment.

For example, BAT started the year just below the price of $0.20. During the first few weeks of January, its price was rather stable, apart from the mentioned small oscillations.

In late January, it grew a bit, which was followed by a strong surge in the first half of February. After reaching its peak in the middle of the month, BAT dropped, and then crashed past the support at $0.20 in mid-March.

BAT after the price crash

In months that followed, BAT saw consistent growth — once again, accompanied by numerous small ups and downs. But, on a greater scale, it kept going up, as can be seen in a chart above.

This was noticed by the community that bought BAT along the way, further fueling its growth. However, the coin then came to a stop after hitting $0.27.

It remained below this level from late June until only a week ago, when it started seeing a major spike up. This surge took it up to $0.36, and while this level briefly troubled it, BAT finally broke it earlier today, thus continuing its strong surge, which took it to the current price of $0.415127.

Conclusion

BAT price followed the market sentiment throughout the year, and only about a week ago, it started surging up rather strongly. Today, it managed to breach a major resistance and skyrocket by 20%.

Invezz uses cookies to provide you with a great user experience. By using Invezz, you accept our privacy policy.