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BAT: the price of the token rises by 4%
BAT: the price of the token rises by 4%
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BAT: the price of the token rises by 4%

By Federico Izzi - 24 Apr 2019

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The price of Basic Attention Token (BAT) stands out in today’s crypto market, rising just over 4%.

This performance is decidedly in contrast to the trend of a sector that is now almost totally in decline, and which still shows the excellent behaviour that the BAT token has had since the beginning of the year. Since 2019, BAT has shown a price increase that currently exceeds 200%. A movement that is making it climb positions day after day, reaching today 23rd place on Coinmarketcap with a capital that exceeds 500 million dollars.

BAT is the reference token of the Brave browser that is used to reward users watching the ads. It is a paradigm shift for browsers that until now have allowed for passive advertising, whereas BAT rewards for viewing the ads.

Source: COIN360.com

Of the top 100, only four are over par. Out of all, Repo (REPO) stands out as a positive sign: with “only” 48 million dollars it is the 98th in the standings and today it scores a +30%.

Among the major cryptocurrencies, Binance Coin’s descent is very pronounced and is close to a 10% drop. After having updated in recent days the absolute highs since its birth in 2017, today Binance falls below 22 dollars.

Tron also marks a strong decline of almost 8%. This is despite the recent revelation of its founder Justin Sun who yesterday announced a meeting with representatives of Liverpool Football Club to consider a possible official partnership.

The concerted decline of the altcoins causes the market cap to slide to 176 billion dollars. The dominance of bitcoin regains 55% of the market share highlighting how the movement of these last hours and days is due to altcoins not performing well. Ethereum drops just below the threshold of 10% while Ripple is now in contact with 7%.

Bitcoin chart by Tradingview

Bitcoin (BTC): the fall in price does not worry

During the night Bitcoin updated its maximums of the year at 5,690 dollars, updating the records of 2019. Profit taking prevailed and brought prices back close to $5,550, in contact with the dynamic bullish trendline that has been shaping the trend since the beginning of the month.

The downward movement does not worry. The first supports to be monitored are the most obvious, that of the 5,300 dollars and those from a monthly perspective: 5,000 and 4,800 dollars.

The upward trend features the ambition to test the $6,000, the former support of last summer-autumn 2018.

Ethereum chart by Tradingview

Ethereum (ETH)

Ethereum suffers a movement that brings prices back to 165 dollars, falling within the range of the lateral channel that had characterised the first three months of the year. The failure to exceed $175 brings back to the return of speculation that rejects prices in congestion broken in early April.

For Ethereum it is necessary to exceed 175 dollars in the next few days and then aspire again to reach 188-190 dollars, record highs of 2019. From a technical point of view, it is important not to fall below 155 dollars, which would attract speculation towards $135.

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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