The IBAT market had some time of price consolidation and it’s just coming out of that market trend. After the sideway-ranging trend, the market broke out to the upside with a very significant bullish move from around $0.00310 to $0.003423. The next thing we expect now is to see the price establish a stable basis at that height in preparation for a more bullish performance
- Resistance: $0.0038, $0.0040, $0.0045
- Support: $0.0025, $0.0020, $0.0019
IBAT/USD: The Indicators’ Outlook
The way the indicator lines of The RSI and the MACD rose from their formal level to their present levels is almost in a vertical manner. The price appreciation is very fast. This is the reason why (through a fair pull and push of the price by the two market players) Battle Infinity will take its new price level as the basis for another bullish move.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
From this point of view, we discover that bears are beginning to come into the market. Where there is a strong bullish move, it is a normal occurrence that some bearish move will be triggered. However, for the market to maintain its newly gained ground, bearish activities must not be too much so that the price can continue the uptrend.
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