Battle Infinity finds new higher support as it prepares for more upside action. The selling pressure is strong at the $0.0028 price level. That price level was where the bullish price was rejected. The market kept struggling at the resistance until the bears gains upper hand as today’s trading session begins. However, that bearish victory did not last. Bulls bounce from the $0.0026 price level aiming at $0.0028.
Key Levels
- Resistance: $0.0035, $0.0036, $0.0037
- Support: $0.0027, $0.0026, $0.0025
IBAT/USD: The Indicators’ Outlook
The bands of the Bollinger are converging as struggles between demand and supply intensify. Although the price is below the simple moving average of the Bollinger indicator, the market is on a bullish recovery. The MACD negative histograms are reducing in height although they still appear in red colours.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
From this outlook, we see the Bollinger band portraying the price channel moving horizontally. However, because the price action remains below the Bollinger moving average, it looks like the trend is tilting. As sellers continue to mount pressure on the new support level, the bulls hold their position strongly and the struggle continues. The selling pressures will eventually weaken as the support appears unmovable. Then the bullish price will break the $0.0028 level.
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