The Battle Infinity Bulls have been pressing on the supply zone for the past two days. The resistance level has held strong against the bullish pressure without even yielding ground. However, as the market session began today, we can see the bull market going as far as $0.0018.
- Resistance: $0.0022, $0.0021, $0.0020
- Support: $0.0015, $0.0014, $0.0013
IBAT/USD: The Indicators’ Outlook
When we look at the Bollinger Bands Indicator, we will notice how it illustrates the increasing pressure on the unmoving resistance level. The market has been experiencing higher lows in the past two days. This has the implication of increasing pressure on the position of the bears in the market. When we have higher lows and unmoving resistance levels, it usually results in a bullish price breakout. However, such a strong bullish move like this can trigger a reprisal response from the supply line.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
However, contrary to expectations, the bull market is stabilizing at around the $0.0018 price level as it wears out the bearish pressure that was supposed to send it back to low price levels. It seems like the bulls are getting stronger and are taking the market. And according to the MACD, we are about to have a bullish crossover above the zero level. But the bull market is currently facing strong resistance at $0.0018. The market needs stable support here that will give it the advantage of taking on more price levels.
Want a coin that has a huge potential for massive returns? That coin is Battle Infinity. Buy IBAT now.