Lucky Block Price Prediction – September 7
There is a possibility for the LBLOCKUSD pair to turn positive and retest the $0.0003429 low value soon as the market selling pressure seems exhausted at the moment. If the forces from buyers in the market should increase and the current support level at $0.0000899 holds, the coin price may possibly turn positive, and the $0.001000 upper resistance value and beyond could be the target.
Levels:
Resistance levels: $0.0002000, $0.0002100, $0.0002200
Support levels: $0.0000900, $0.0000800, $0.0000700
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
The Lucky Block price is in a bearish momentum on the daily chart. This is because the sell traders are actively involved in the order flow, but it seems that the price might turn positive soon as the coin sellers seem exhausted.
The sustained bearish pressure at the $0.0000814 support value during yesterday’s session has made the crypto’s price stay below the supply trend line in its recent low.
Today, the bulls are trying hard to remain above the $0.0002000 supply mark, so there is a possibility for the coin price to pull back at the current support of $0.000899 to invalidate the bearish theory.
With the overall market trend still bearish, if the buy traders could add more efforts to their buying actions, the LBLOCKUSD price is likely to plunge higher and retest the high accumulation zone of $0.0003429 level to restore the recovery sentiment back to the crypto market.
Notably, the coin market is now trading below the 205 range of the daily stochastic. This implies that the price of Lucky Block might turn positive soon.
If the Lucky Block’s price could sustain above the $0.0003429 resistance level, the resulting rally may surpass the $0.001000 price level in the days ahead in the higher time frame.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
LBLOCKUSD is trading in a bearish market zone in its medium-term perspective. The prices can be seen below the moving averages at the moment. However, this cannot stay long as the market is about to turn positive soon.
The sell traders made a downward move to the $0.0000814 support level before the end of yesterday’s session. This gave sellers more strength to continue with the trend in its recent low.
Actions from the bears further dropped the coin price down to the $0.0000899 support level below the two EMAs as the 4-hour chart resumes today.
Should the coin price turn up from the $0.0000899 support and jump above the $0.0001602 supply mark, the bearish thesis would get invalidated.
However, a potential upswing above the $0.0001602 previous high would get better confirmation of a bullish recovery which would lead the price to the upper resistance territory.
In a like manner, the Lucky Block market now approaches the oversold region, which means that the selling pressure will end soon. This will compel long-term investors to resume the bullish recovery pattern; as a result, the price might turn positive to hit the $0.001000 upper resistance level in the days to come.
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