Battle Infinity‘s progressive bearish price has been held down at the $0.0016 support level for almost two days. Buyers are really strong around the $0.0016 support level. They are not ready to shift ground for the sellers. Although the price fell below the support level, this turned out to be an exhaustive move that resulted in a price rally.
- Resistance: $0.0022, $0.0021, $0.0020
- Support: $0.0016, $0.0015, $0.0014
IBAT/USD: The Indicators’ Outlook
The strong bullish move that we are currently seeing on the price chart takes its support from $0.001589 and has now broken the $0.001620 resistance, and bulls are prepared to capture more price levels in the supply zone. Nevertheless, from the outlook of the latest bullish candles, appearing on the chart, we see that sellers are still putting pressure on the price. However, the buyers have the upper hand. The upper band of the Bollinger Bands Indicator has more movement to the upside than the lower band has to the downside. The two bands of the indicator moving in opposite directions suggest that there is a measure of volatility in the market. This volatility seems to reduce the momentum of the bullish progress.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
The strong bull market has pushed the bear position in the market to $0.001640. At that price level, bearish resistance is strong, and the bulls find new support slightly below $0.001620. And from here, the bulls are making another attempt at breaking the resistance level. The table is turning in favour of the bulls as the pressure is coming to them at their newly-found supply zone.
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