Today’s trading session was opened with aggressive buying pressure that sent the price of Battle Infinity to the upside. From the $0.0024 support level, the market breaks two major resistance levels. After breaking the $0.0025 resistance level, the buyer secured a new support level of $0.002508. The bull market encountered strong resistance at $0.00255 and it is the selling pressure at this level coupled with strong bullish price activities that made the market take up a price consolidation again.
Key Levels
- Resistance: $0.0027, $0.0028, $0.0029
- Support: $0.0022 $0.0021, $0.0020
IBAT/USD: The Indicators’ Outlook
In response to the changing market trend, the upper band of the Bollinger indicator has now changed from an upward movement to a sideway movement. However, the lower band and the moving average are still on an upward movement. Likewise, the MACD Indicator now has a bearish crossover above level zero. But, a bearish trend cannot be established yet for the market as the bullish support still holds in proximity to the $0.00255 resistance. Also the bullish momentum according to the RSI measures 54.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
In the 15-minute timeframe, the struggle between demand and supply is intensifying but the buyers maintain a firm grip on their position in the market. The support level at $0.002504 still holds. However, the current price is slightly below the 20-day moving. But, the support level remains strong. The bull market is targeting $0.0027.
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