IBAT/BNB Price Forecast: August 22
IBAT/BNB will still go further if the current support at $0.008387 holds. The crypto’s price may continue its upside moves to a $0.500 high level, provided the buyers increase their actions in the market.
Resistance Levels: $0.011444, $0.011454, $0.011464
Support Levels: $0.008314, $0.008214, $0.008114
IBAT (BNB) Long-term Trend: Bearish (4H)
Analyzing the chart above, we can clearly see IBAT/BNB is in a bearish market zone. The price currently trades below the two EMAs.
Today’s 4-hour bullish engulfing candle at $0.007380 above the moving averages confirms the bulls’ dominance in the market.
However, there are bullish signals above the level of $0.007380 which indicates a possible further increase in the market value.
Meanwhile, the pair has a target price of level $0.500 as it’s about to resume its uptrend to the upper resistance as indicated by the daily stochastic pointing up in the oversold region. The mentioned target might be tested in its long-term perspective.
IBAT(BNB) Short-term Trend: Bearish (15-Minute)
The coin is in a bearish movement zone in its short-term outlook. This is due to the inflow from the sellers.
Just in after a few minutes of opening the 15-minutes chart, the bulls returned and triggered up the momentum up to the the$0.008719 resistance value above the moving averages. This will actually enable the pair to rise further.
If the IBAT/BNB price sustains above the current resistance level, the resulting rally may surpass the $0.1000 level and hit the $0.0500 psychological level at the upside in the days ahead in the lower time frame.
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