Finally, in the struggle, the Battle Infinity bear market yields to the bulls. The bulls have kept the $0.001540 price level as a strong support and a basis for the bullish price run that brought about the recovery of the market to $0.0016. In the previous sessions, the bulls had made the $0.0016 level a stronghold, but massive pressure from the supply zone brought the market to the $0.001540 support level.
Key Levels
- Resistance: $0.0022, $0.0021, $0.0020
- Support: $0.0015, $0.0014, $0.0013
IBAT/USD: The Indicators’ Outlook
Buyers have aggressively entered the market, with Battle Infinity now seeing massive purchases. This strong bullish move made the upper band of the Bollinger Bands indicator move in an almost vertical manner. However, the indicator shows that the market is also very volatile at this time. As the upper band moves to the upside, the lower band moves to the downside. This means that the sellers are also formidable and could be responsive to the bullish run. But as the bulls continue to sustain the bullish run, the lower band recoils in preparation to move in agreement with the upper band and the 20-day moving average. The buyers now seek to establish strong support above $0.001640.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
The new bearish resistance has now been shifted to $0.001655. And from the look of the Bollinger Bands Indicator, the bulls appear to be making an impressive attempt to capture the price level. We can see that the upper band of the indicator is moving in a bullish way. The demand zone appears to still have more action in today’s market.
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