Battle Infinity‘s bullish price was rejected at around the $0.001640 resistance level in the previous daily session. More traders took their profit at the resistance level, which contributed to the existing pressure on the bullish position in the market. This then sends the price back down to the edge of the demand zone. $0.0016 has been a strong support price level for the market for the past few days.
Key Levels
- Resistance: $0.0022, $0.0021, $0.0020
- Support: $0.0016, $0.0015, $0.0014
IBAT/USD: The Indicators’ Outlook
The Bollinger Bands, which initially illustrated an upward movement, are now moving horizontally. The indicator illustrates the price channel moving sideways with its wide price channel. That means the market is still volatile. Due to the bullish price recovery attempt, the two bands of the Bollinger indicator are now beginning to contract. The two forces are becoming evenly matched.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
At the $0.0016 price level, the bulls have been proving strong. And for the past few consecutive daily sessions, the support at that level has continued to hold. The price of IBAT consolidates at this level as the bullish support holds against the pressure from the sellers.
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