In this month, the Battle Infinity market has witnessed very powerful bullish movement between the 16th and the 17th of October. The continuous strong bullish candle that continue to appear during those periods speaks of massive buying of the cypto at that time. But when the price of IBAT gets to $0.0038, the bullish move stopped. With such a strong bullish move in the market, it is normal that are price retracement will follow. And that is what we are seeing now in the market.
Key Levels
- Resistance:$0.0038, $0.0040, $0.0045
- Support: $0.0025, $0.0020, $0.0019
IBAT/USD: The Indicators’ Outlook
At this new price level, bullish moves are needed to help stabilize the market. But currently, the market is having a down time as the price has dropped to $0.00325. Even at this point, buyers are still needed to help stabilize the market. All the indicators are pointing to a down time. The RSI is in the overbought zone at 15%. The same thing happens in the MACD indicator. We hope that as the market is now in the overbought the price may rise again soon.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
From the MACD indicator, apart from the pink histograms that is appearing on the negative side, the height of the histograms is reducing. As the the bulls begin to return back into the market, the price may enter into another consolidation market before the price goes to the upside.
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