At the 10th hour of today’s trading session, the market enters into a consolidation trend. Initially, bears have been in control and they have driven the market in their favour. But now, bulls are becoming stronger and this is resulting in a sideway-ranging market as the market price of Battle Infinity seems pegged at around $0.002228.
Key Levels
Resistance: $0.002800, $0.00300, $0.003200
Support: $0.002000, $0.001800, $0.001600
IBAT/USD: The Indicators’ Outlook
Bulls are growing stronger and are now able to stop bearish advances in the market. IBAT’s current trend is a result of bullish recovery. The next market direction should be to the upside since the buying pressure is increasing. After the fast line crosses the slow line in the negative zone of the MACD, it changes its bearing to the upside and it is almost crossing out of the negative zone. The histograms are performing in the positive zone of the MACD. We should expect a bullish breakout of the market soon.
IBAT/USD Short-Term Outlook: Bullish Recovery (15-minute chart)
From this point of view, we can see the bulls making slight progress. The lows of the price actions (candlesticks) are rising steadily. However, the band of the Bollinger indicator is not widening out yet, this may be due to the tug-of-war between sellers and buyers at this junction. In the MACD all the readings are on the positive side. Traders should be alert and ready to buy Battle Infinity at the right time (when the market gives clear signals)
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