The Battle infinity market has enjoyed a continuous bullish trend since the 6th of October till the IBAT market trend reached the price level of $0.002846 that is on the 9th of October. Then sellers began to increase pressure on the market. However, they were not able to control the market as the buying pressure proved stronger.
- Resistance: $0.0035, $0.0040, $0.0045
- Support: $0.0025, $0.0020, $0.0019
IBAT/USD: The Indicators’ Outlook
The price of IBAT reached the height of $0.003200 on the 10th of October. From here, the price was rejected and as a result, the price pulled back to around the current price of $0.003105. According to the Bollinger band indicator, there is still room for more bullish performance as the price action moves along with the moving average of the indicator. And the price pullback was a result of a recovery from the overbought zone. IBAT had continued in the overbought for quite a while. As expected, because of this the trend supposes to reverse. However, bulls are cutting short the bearish reversal.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
At the peak of the bullish market which is $0.003188, the buyers lose their grip on the market. and the sellers took an advantage of the slackness. They brought the price down to the support price of $0.003061. By this, we can say that buyers are still in control because the market was salvaged and the bullish trend resumed. However, the market now appears to be consolidating again at around this price. At this point in the market, the selling seem strong.
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