The Battle Infinity bulls have been protecting the $0.0016 level for the past few days. The price level is a stronghold for the buyers. At this point, the bulls are trying to wear out the bearish pressure and stage a bullish price run.
Key Levels
- Resistance: $0.0022, $0.0021, $0.0020
- Support: $0.0016, $0.0015, $0.0014
IBAT/USD: The Indicators’ Outlook
From the appearance of the Bollinger bands indicator, we can see that the bears are resilient as they keep making encroachments below the $0.0016 level. The bands illustrate the price channel slightly moving to the downside. However, the bulls keep recovering the $0.0016 price level. They need to keep their position at this point because the bears have so far made many attempts to break into bullish territory.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
From the 15-minute perspective, the Bollinger Bands indicator portrays a horizontally moving price channel, with price actions moving along and through the 20-day moving average. This is an indication of buyers’ and sellers’ tug-of-war, even though the market is volatile. If the bulls can continue to protect their position at $0.0016, they will eventually drive the price to new heights.
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