The Battle Infinity bears are very ambitious as they continue to mount pressure on the position of the bulls in the market. The bearish price briefly broke below the $0.001650 support level. This triggers the bullish activities that caused the price to rally. Now the bull market is reclaiming the $0.0017 price level.
- Resistance: $0.0022, $0.0021, $0.0020
- Support: $0.0016, $0.0015 $0.0014
IBAT/USD: The Indicators’ Outlook
The Bollinger bands indicator now illustrates the price channel moving in an ascending pattern. But as the bullish price approaches the $0.0017 price level, the Bollinger bands contract. This portrays the pressure the bull market needs to deal with as it approaches the supply line. According to the MACD indicator, the bullish price recovery was progressive until the price came to the $0.0017 price level. At that point, the faded green histogram indicates that some traders are selling.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
From this point of view, we can see that the bulls are gaining momentum. They were at first held down at $0.001662, but they became strong enough to reach higher prices. However, at around $0.0017, the progressive bull market is caught up in a serious tug-of-war with the bears. The supply line is not giving way, and the bullish run is not giving up. As the bulls continue around the price level, there is a high probability that the resistance level will give way to the advancing bullish price.
Want a coin that has a huge potential for massive returns? That coin is Battle Infinity. Buy IBAT now.