IBATUSD: Price Set for a Sharp Rally to $0.2500 Supply Level
Battle Infinity Price Prediction for Today, 6th of October:
IBATUSD is hereby facing the positive side having finished with the lows. Thus, a breakout above the $0.003199 supply mark will invalidate the bearish theory and a turnaround for the buy traders. $0.2500 high value might be achieved in this new bullish pattern.
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Resistance Levels: $0.005600, $0.005700, $0.005800
Support Levels: $0.002300, $0.002200, $0.002100
IBAT (USD) Long-term Trend: Bullish (1H)
IBATUSD pair is on its way to the upper resistance as it now trades in an upward channel. The crypto’s price continues to face buying pressure and the price bar is just above the EMA-9 approaching the upper resistance trend line.
The ongoing correction at the $0.002792 resistance mark above the EMA-9 indicates that the buy traders are actually investing in the coin. This new pattern will also improve and stabilize the aggressive buying from the previous rally.
Furthermore, the Battle Infinity price will likely continue its upward move as shown by the stochastic oscillator which is pointing upward. Therefore, a bullish breakout above the current supply mark may trigger the coin price to reach a $0.2500 high value soon in the higher time frame.
IBAT (USD) Short-term Trend: Bullish (15-Minute)
The Battle Infinity price now trades above the moving averages, this means that the coin is in an uptrend channel. The bulls are dictating the market conditions at the present.
On the 15-minute chart, the buy traders made an increase to $0.002848 earlier today, after which the sellers returned briefly and drove the price down to a low at the $0.002700 level.
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The bears lost momentum as the buyers moved in sharply and swing the price up again to a high at the $0.002792 supply trend line, thus increasing the possibility of further buying pressure.
More upsides are expected as the buyers are seen clustering around the market, it is, therefore, possible for the bulls to continue with this rally and the $0.2500 resistance mark might be achieved soon in its lower time frame.
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