Battle Infinity bulls are in control of the market today. The buying pressure is progressively increasing as the sessions go on. Now, the price is set to face the $0.0028 price level which is where the price was rejected in the middle of yesterday’s trading session. At this level, some traders are going short as the price approach the $0.0028 resistance level. However, some traders are yet going long because IBAT is likely to hit $0.003 in today’s trading session.
Key Levels
- Resistance: $0.0035, $0.0036, $0.0037
- Support: $0.0028, $0.0027, $0.0026
IBAT/USD: The Indicators’ Outlook
The MACD line is about to cross up above into the bullish zone. The rising MACD line portrays the increasing momentum of the bullish price. The histograms show no signs of weakness. But at the current price level, it seems like buyers and sellers are having a tussle for control of the market. But the buying pressure is still stronger than the selling pressure. Also, due to the retracement after the price action hit the $0.0026 price level, Bollinger’s upper and lower bands expand. This is because the bullish trend was quick to continue after the brief retracement.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
We can see from this standpoint as demand and supply clash as the price of the market approaches the $0.0028 price level. But the upper band of the Bollinger indicator widens more than the lower band. The moving Average is now following along with the upward-moving market. The lower band of the Bollinger will also follow along as the indicator forms a new upward price channel. The bulls market aims at attaining the $0.0034 price level.
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