In the previous daily session, Battle Infinity bulls had to deal with pressure from the bear market. They were forced to briefly shift base below the $0.00178 price level. But they were quick to regain a grip on their key support level. And this was the base at which the bulls regained the $0.0018 price level.
Key Levels
- Resistance: $0.0022, $0.0021, $0.0020
- Support: $0.0015, $0.0014, $0.0013
IBAT/USD: The Indicators’ Outlook
The last daily session closed with the bullish price already at $0.0018, and this made the lower band of the Bollinger Bands indicator change direction to the upside. However, the volume of trade is very small. This may be contributing to the bullish price being pegged at the key level of $0.0018. As the volume of trade increases, the market may see more bullish price action.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
The MACD in the 15-minute time frame signals a bullish crossover of the two lines. This might be the time to place a long trade. But, looking at the market from a broad perspective, the price channel is moving to the downside. This is because the bullish price has just reached the 20-day moving average. To change the direction of the market, the price needs to get above the 20-day moving average; then the next stop for the market will be $0.001860.
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