Battle Infinity is preparing for another upward performance. The bullish market of yesterday continued till 11:00 pm when IBAT/USD reached the resistance level of $0.005196. Also, that is where the price closed the day. The price has since then been on the way down, favouring the sellers. At some point in the downtrend, buyers tried to recover their hold in the market. But the selling pressure was stronger. Toward the end of today’s market, bulls held up the price at $0.004259 to prevent any further downward push by bears.
Key Levels
Resistance: $0.004300, $0.004400 $0.004500S
support: $0.004200, $0.004100, $0.004000
IBAT/USD: The Indicators’ Outlook
In the Relative Strength Index, the RSI line is changing direction in the oversold zone as it is trying to retrace an upward level. This is what investors should pay attention to as they plan to invest or reinvest in Battle Infinity. Once the market enters the oversold territory, the price will certainly correct itself to the upside.
Battle Infinity Short-Term Trend: Bullish (15-minute chart)
The Moving Average Convergence and Divergence indicate that the sellers are losing strength and buyers are coming up. The bullish histograms are green, showing vigour, and the height of the histograms are increasing as time advances. In addition to that, the faster line of the MACD has crossed the slower line on the downside of point zero. This is to confirm that the trend has changed. As for the RSI, market strength is measured at 38%, which cannot be regarded as a bullish market yet because it is still below 50%. Nevertheless, the line is rising. It is time to buy!
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