Battle Infinity skyrockets well in today’s trading session. According to the Battle Infinity 1-hour trading session, the bulls dominated most of the day’s trading session. However during the fourth and fifth trading sessions, there was a standoff between the forces of demand and supply resulting into an indecisive trading sessions. But by the last trading session, the bulls took the market.
IBAT/USD Supply Levels: $0.008152, $0.008269, $0.008651
IBAT/USD Demand Levels: $0.0082669, $0.007389, $0.007241
IBAT/USD Longterm Trend: Bullish (1-Hour Chart)
From a broad view of the chart we discovered that with each day the coin attained new support level. However, at some point in the market neither the bulls nor the bears were powerful enough to win each other. But despite that, the price action is above the 9-day moving average.
The Indicator’s Outlook: IBAT/USD Skyrockets
Generally, the IBAT/USD is doing well as price actions are above the 9-day moving average. However, in the Relative Strength Index the indicator shows that all this impressive market actions may soon take a downturn soon. The reason for this is because the RSI line has been in the overbought area for a while. As at today the RSI line measures 73.4%. Although the strength of the market, according to the RSI, has hold continuously in the overbought zone for quite a while, it is expected that the market will correct to the downside soon. In view of this, the price may have to retrace a lesser value. This will give investors the opportunity to enter the market as at the time when it is cheap.
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