Lucky Block Price Prediction- June 3
The Lucky Block (LBLOCKUSD) price could see another uptrend soon. The coin price may likely reverse in a bullish direction, and it may soon be prepared for another probable upward surge. The price may perhaps retrace to retest the previous high of $0.0003429 value and even further if buyers can demonstrate their strength and trade hands with sellers at the current support level of $0.0001164, further bearishness would be invalidated and the price could hit the $0.02000 supply level and beyond.
Levels:
Resistance levels: $0.0002300, $0.0002400, $0.0002500
Support levels: $0.0001100, $0.0001000, $0.0000900
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
Lucky Block market is having a bearish posture in its long-term outlook as can be seen from the chart above. The coin price can be seen trading below the supply trend levels. This is due to the high inflow from the sell traders.
The sustained pressure from the bears at the $0.0001105 support level during yesterday’s session has contributed to its bearishness in its recent low.
Today, the bears however made a drop to a $0.0001164 support level below the moving averages. Given the current trend, buyers are able to purchase the item at a lower cost and push the market higher. Thus, the price tendency will climb over the crucial levels if the bulls raise their level of market tension.
Further, LBLOCKUSD is likely going to reverse and face the upsides as the market is now trading around the 30% 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 $0.0003429 supply level which could further extend to the $0.02000 upper resistance trend line in the coming days in its higher time frame.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
According to the chart below, the medium-term outlook for the LBLOCKUSD market is in a bearish trend zone.
The sustained bearish pressure in the past few days has made the crypto price remain below the supply trend levels in its recent low.
Meanwhile, the current price at a $0.0001202 low value below the supply trend lines has not stale the market condition of the cryptocurrency. Thus, traders who buy the coin during the bearish market will also make gains in the future.
The Stochastic is also showing the market is approaching the oversold region. This means that the selling pressure will end soon. This will compel the bulls to resume the bullish trend to retest the $0.0002300 supply level; the $0.02000 resistance level might be reached in the days to come in its long-term outlook.
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