Battle Infinity (IBAT) to break upside at $0.006946 Level

Updated:

Battle Infinity (IBAT) Price Forecast: August 27
IBAT/USD price may possibly resume an uptrend to break up the $0.006946 supply level soon. A decisive break below $0.004355 would bring more losses to the coin. However, a daily candlestick above the mentioned supply level would invalidate any bearish theory. Therefore, if the buyers can put more effort into their tension in the market, a shift in trend upward will be achieved.

Key Levels:
Resistance Levels: $0.007000, $0.007500, $0.008000
Support Levels: $0.005100, $0.004100, $0.003100

IBAT (USD) Long-term Trend: Bearish (1H)
Battle Infinity is in a bearish trend market zone in its long-term outlook. This is due to the inflow from the sell traders.IBAT/USD price may possibly resume an uptrend to break up the $0.006946 supply level soon. A decisive break below $0.004355 would bring more losses to the coin.The bulls however made an increase to $0.003982 earlier today after which the sellers intervened and smashed the price down to a low of $0.005102 level below the moving average. With this current trend, buyers can pick up the price at a cheaper rate and move the market further up. Therefore, if the bulls increase their tension in the market, the price tendency will move above the key levels.

In a like manner, IBATUSD is likely going to reverse and face the upsides as the market is trading below the 5% range of the daily stochastic; it means that the selling pressure will end soon. This will compel the buy traders to resume an uptrend and may likely break up the $0.006946 supply level soon in its higher time frame.

IBAT (USD) Short-term Trend: Bearish (15 Minute)
The cryptocurrency is in a bearish move in its short-term outlook. The bulls actually caused a rise to a $0.006906 high level after which the short traders returned briefly and dropped the price of the IBATUSD down below the moving averages shortly after the 15-minute session opens today.IBAT/USD price may possibly resume an uptrend to break up the $0.006946 supply level soon. A decisive break below $0.004355 would bring more losses to the coin.There is a higher probability of the price breaking up its resistance level of $0.006451 and going up much further.

Next, the coin has fallen below the level of 20% of the daily stochastic. It indicates that the pair is now in the oversold region of the market. It implies that the selling pressure is likely to run to an end. We will now be looking into the emergence of buyers in the oversold region of the market. The price action may possibly reach a high of $0.007000 level and beyond as we watch the market in a bullish scenario soon in its lower time frame.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.