Using $0.001645 as a base, the bulls in the Battle Infinity market charged $0.001750. The price level has been acting as a major brick wall for the bulls in the market for some time now. The bears are very strong at that level. Today's market opened with three significant bullish candlesticks. But because the bearish stronghold at the key resistance level remains impregnable, the bullish price was rejected. And since then, the bull market is still just trying to regain its balance.
Key Levels
- Resistance: $0.0022, $0.0021, $0.0020
- Support: $0.0017, $0.0016, $0.0015
IBAT/USD: The Indicators’ Outlook
Due to the significant bullish activities in today’s market, the Bollinger Bands Indicator illustrates a brief upward-moving price channel. After the bullish price got rejected at the resistance level, the indicator depicts the market taking up a sideways movement, but with broad bands, signifying the volatility of the market. The bulls are still very resilient, and that is why we have a bit of movement on the upper band of the indicator.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
Looking at the market from this perspective, the bears appear to be very aggressive. The bearish candlesticks are very significant. However, despite the strong bearish move on the chart, there is not much significant bearish activity in the volume of trade indicator. This may be a sign of exhaustion on the part of the sellers. That means a bullish run is imminent. The bulls will have to establish support levels in proximity to the $0.001750 so that they can increase pressure on the position of the Battle Infinity bears and consequently break the resistance level.
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