Top 3 Coins to Watch Today: BAT, EOS, UBT – May 17 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Basic Attention Token (BAT)

Basic Attention Token BAT is the token that powers a new blockchain-based digital advertising platform designed to fairly reward users for their attention while providing advertisers with a better return on their ad spend. The Basic Attention Token itself is the unit of reward in this advertising ecosystem and is exchanged between advertisers, publishers and users. Advertisers pay for their advertising campaigns in BAT tokens. Out of this budget, a small portion is distributed to advertisers, while 70% is distributed to users – whereas the intermediaries that typically drive up advertising costs are cut out of the equation to improve cost-efficiency.

BAT Price Analysis

At the time of writing, BAT is ranked the 80^th cryptocurrency globally and the current price is US$0.3963. Let’s take a look at the chart below for price analysis:

BAT has dropped nearly 69% from its April 2022 high and 84% from its November 2021 all-time high.

Support might have formed last week from $0.3934 to $0.3665 and should hold if bulls are ready for a bounce. This zone overlaps with an inefficiently traded area on the weekly chart from $0.3863 to $0.3394.

If this level breaks, bears might target an inefficiently traded area on the monthly chart from $0.2907 to $0.2632. Below this level, $0.1745 to $0.1580 could provide support after a run on bulls’ stops under the Q4 2020 lows into an area of significant accumulation.

The closest resistance begins near $0.4283. This level has confluence with the 9 EMA and a brief consolidation before May 11’s spike downward.

A more significant rally might find resistance near $0.4940. This level is inefficiently traded and has confluence with the lows of last summer’s accumulation and the 18 EMA.

If the market becomes more bullish, $0.5946 may provide the next resistance. This level is slightly above the May monthly open, overlaps with multiple old lows and aligns with the 40 EMA.

2. Eos (EOS)

EOS is a platform designed to allow developers to build decentralised apps. The project’s goal is relatively simple: to make it as straightforward as possible for programmers to embrace blockchain technology and ensure the network is easier to use than rivals. As a result, tools and a range of educational resources are provided to support developers who want to build functional apps quickly. EOS also aims to improve the experience for users and businesses. While the project tries to deliver greater security and less friction for consumers, it also vies to unlock flexibility and compliance for enterprises.

EOS Price Analysis

At the time of writing, EOS is ranked the 46^th cryptocurrency globally and the current price is US$1.33. Let’s take a look at the chart below for price analysis:

EOS has plummeted nearly 66% from its March 2022 high and almost 93% from its May 2021 all-time high.

The closest resistance overlaps with the 8 EMA near $1.4544, where the daily chart shows inefficient trading. This level rejected the price’s first retest on May 13.

Slightly higher, $1.8152 offers the next noteworthy resistance. This area was inefficiently traded and overlaps with the last significant swing low in mid-March.

Last week, the price bounced from support near $1.1856, which could provide support again. This level shows inefficient trading on the monthly chart and is near the midpoint of September 2017’s accumulation.

If this support breaks, bulls could find support near $0.7229. This level is at the bottom of an inefficiently traded area on the monthly and weekly charts. It’s also the high point of October 2017’s accumulation range. However, eager bidders should be cautious as a move this low may be targeting bulls’ stops under the swing low at $0.4760.

3. Unibright (UBT)

Unibright UBT is a member company of SPO Consulting GmbH, which was founded in 1989. The cloud-based integration platform was released in 2011, while the cross-blockchain and cross-system business process integration of Unibright was launched in 2016.

Unibright’s unified framework has the goal of bringing blockchain technology and contracts to mainstream users. Unibright offers enterprise-level blockchain solutions, integration platforms, and an ecosystem centred on tokenised assets. 

UBT Price Analysis

At the time of writing, UBT is ranked the 37^7th cryptocurrency globally and the current price is US$0.3877. Let’s take a look at the chart below for price analysis:

UBT has dropped nearly 89% since its March 2022 high and 95% since its September 2021 high.

The price is currently testing probable resistance near $0.4029, which marks the upper half of last week’s rally before the last run downward and may soon overlap with the 18 EMA.

Just above, $0.4842 may also provide resistance. Sweeping this high would remove bears who trailed their stops too aggressively. It also overlaps with the lower half of early May’s consolidation.

Support may have formed near the recent swing low candle’s high near $0.3592, which should hold during a retest if the price is to rally further. This possible support formed after the price ran bulls’ stops under significant lows near $0.2361. 

Further possible support below this level becomes difficult to determine due to a lack of precise historical price action data. Some charts suggest that an area near $0.18378 could be the next bearish target and possible support. Inefficient trading might have occurred here.

If this level breaks, the stops and inefficiently traded area under the significant swing low around $0.07358 may be the next target for bears and offers potential support for bulls.

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Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.