Battle Infinity Market Forecast: IBAT Is Getting Ready for a Rally
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Battle Infinity Market Forecast – November 2
The Battle Infinity market forecast is for the coin to break the current momentum trend and push the price for an upward trend.
IBAT/USD Long-Term Trend: Bullish (1-Hour Chart)
Key Levels:
Supply Zones: $0.003823, $0.003262
Demand Zones: $0.002978, $0.002249
The Battle Infinity market descended into consolidation after hitting a high of $0.003823. The market could not move further beyond that point and began a swift descent through the key levels. The fall continued till it plunged into a former consolidation zone between $0.003262 and $0.002978. Since then, the coin has been ranging, getting ready for a rally.
Battle Infinity Market Forecast: IBAT/USD Outlook
The first phase of price ranging occurs at the beginning of October and lasts until the middle of the month. This led to an upsurge in the price of the coin, which rose to $0.003824, where it was rejected.
The rejection sent the market spiraling downward through several key levels until it dropped back into consolidation. Since then, the coin has been undulating through the key consolidation levels.
The market is, however, preparing for a breakout from consolidation. The Bollinger Band has squeezed on the candlesticks to showpiece consolidation. This results in a sideways trending momentum indicator.
IBAT/USD Medium-Term Trend: Bullish (15-minute chart)
The 15-minute chart shows a vivid view of the market’s range through the key levels. Like on the 1-hour chart, the Bollinger Band is squeezed around the candlesticks and the price fails to make any sharp move in or out of consolidation.
The Momentum indicator, though still in a sideways movement, had a slight surge in consolidation on the 31st of October before returning to its sideways movement. It is expected that the price will shoot upward soon enough to retest the $0.003823 resistance level where it was initially rejected.
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