Buyers of Battle Infinity are minimizing the downward movement of the price due to the aggressive bear market. The struggle intensifies as the bull market becomes evenly matched with the bear market. And because of this, the price has continued to move between $0.00164 and $0.001619 since the last session.
Key Levels
- Resistance: $0.0022, $0.0021, $0.0020
- Support: $0.0016, $0.0015, $0.0014
IBAT/USD: The Indicators’ Outlook
The MACD indicator illustrates a ranging market with prices moving around the zero level. Both the MACD line and the signal line move together, ranging in the bearish zone of the indicator. The Bollinger Bands indicator is contracting its bands, indicating that bulls are becoming formidable enough to hinder bearish price movement. However, the bears have a slight advantage because the price action is slightly below the 20-day moving average.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
The bulls have the $0.001619 price level to protect, but due to the massive pressure on the position of the buyers in the market, they are losing grip on that price level. The price falls briefly below the $0.001619 level, but a quick recovery of the bullish price follows this. Buyers cut short the advances of the bear market through the $0.001619 support level. For now, the bulls need to regain stamina against the raging bears, before they can push the price in a bullish way.
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