Basic Attention Token surged 93% over the week, finally breaking out of a multi-month descending channel and briefly clearing the $0.20 resistance level. At press time, the token traded around $0.19, with trading volume up 120% and over $1.2 million in short positions liquidated during the breakout above that level. Open Interest on derivatives hit an all-time high of $59 million, while Derivatives Volume climbed 340% to $632 million. Spot Netflows reached a record $2.5 million, indicating increased supply available for selling on exchanges. If buyers absorb the profit-taking pressure and reclaim $0.20, BAT could target the $0.28 resistance level.
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