In the previous session, the Battle Infinity market charged aggressively toward the target of the $0.0021 level. But the bullish price was rejected at the same $0.0021 price level. Initially, the bullish progress was met with much resistance from the bears. However, the strong bull market needed to drag the bears along as it moved to the upside. But as the bullish price got to the major price level, the bulls succumbed to the pressure and the price fell.
Key Levels
- Resistance: $0.0027, $0.0028, $0.0029
- Support: $0.0020, $0.0019, $0.0018
IBAT/USD: The Indicators’ Outlook
As the price of the market fell, it hit a brick wall at the $0.002 level. This price level is a stronghold for buyers, and the market began to make a bullish recovery attempt from here. The bulls secure a higher support level of $0.002018, and from there, the price action catches up with the 20-day moving average. Also, in the MACD indicator, we now have a bullish crossover below the zero level. This MACD bullish crossover is a sign of the beginning of a bullish price recovery.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
From this perspective, we can see that the $0.002 price level is a strong support for the bull market. However, the bull market needs to deal with the resistance at $0.002038. And with the higher support level at $0.002018 (which is also sitting on top of the moving average in this time frame), the bulls have the advantage to break the resistance.
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