Lucky Block Price Prediction – September 16
LBLOCKUSD is about to increase to the upside retesting the above-mentioned supply. There is a possibility for the crypto to turn positive and test the supply level of $0.0003429. Therefore, if the bulls could trigger their forces in the market, the resistance level of $0.0003429 may not hold and it may extend to a $0.001000 high level and beyond.
Levels:
Resistance levels: $0.0002000, $0.0002100, $0.0002200
Support levels: $0.0000900, $0.0000800, $0.0000700
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
LBLOCKUSD indicates a downward trend with a bearish sentiment in its long-term perspective. The coin is trading below the supply trend lines. Nevertheless, the coin is about retesting the $0.0003429 level as the market is oversold already.
The sustained bearish pressure in the past few days at the $0.0000919 support value has made the crypto price remain below the supply trend levels in its recent low.
Actions from the bears further dropped the coin price down to the $0.0000901 support level below the two EMAs as the daily chart resumes today. Thus, the anticipated bullish reversal could kick-start a new recovery cycle and may push the price above the $0.0003429 price level.
However, long traders can join the market or invest in the crypto with the current trend and buy at a lower rate for more gains in the future. This will reflect an increase in the trend momentum.
The Stochastic is also showing the market is already oversold. This means that the selling pressure will end soon. This will compel the bulls to resume the bullish trend and the price of Lucky Block retesting the $0.0003429 supply level might be the target in the days to come in its long-term outlook.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
The LBLOCKUSD pair is in a bearish movement zone in its medium-term outlook. This is due to the inflow from sellers. Further, the price is gathering momentum, and retesting the $0.0003429 supply level soon might be the target.
The interference of short-term traders to the $0.0000916 low level in the previous action contributed to its bearish momentum.
The crypto rebounded from the mentioned support with a pin bar hammer candle at the $0.0000981 supply value below the two EMAs as the 4-hour chart opens today. This indicates a genuine reversal which may attempt the $0.0001602 breakout. Further, investors may seize the opportunity now buy the coin at a lower price and look for more gains ahead.
Meanwhile, should the bulls prove stronger and increase their buying pressure, the price of Lucky Block may likely rise further to retest the $0.0003429 previous resistance level, indicating a strong supply zone for a potential BUY in its medium time frame.
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