The Battle Infinity market made some impressive bullish price advancements in October. Although the sellers are also active in the market, the buyers are having the upper hand. The bulls were able to establish new higher support levels from each of the price pullbacks. In the 10th hour of yesterday’s market, the market saw a very massive rise in price. But as the price reached the $0.0032 resistance level, it was cut short by bearish resistance. However, the strong bullish market refused to let the price fall below the $0.003149 price level.
Key Levels
- Resistance: $0.0034, $0.0035, $0.0036
- Support: $0.0029, $0.0028, $0.0027
IBAT/USD (Battle Infinity): The Indicators’ Outlook
In the 10th hour of yesterday’s market, the bands of the Bollinger indicator expanded greatly because the bullish move was very aggressive as it breaks two major price levels in the 1-hour trading session. With such a strong bullish move, it is normal that a strong pullback would follow. However, in this case, bulls were able to secure a higher support level for the price. Now, due to the strong bullish support, the price is going into consolidation. The Bollinger band is now moving on a horizontal pattern. This will form the basis for a more bullish price performance
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
Towards the second hour of today’s IBAT trading session, the bulls attempted to break the price away from the indecision, but at the $0.0032 resistance level, the price was rejected again. However, the bulls also have very strong support at the $0.003149 price level. The strong support and the strong resistance have resulted in a consolidating market trend for IBATUSD.
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