Lucky Block Price Prediction – August 7
LBLOCKUSD is gathering momentum to hit the $0.0001099 supply to counter the bearish trend. The selling pressure seems to have ended, and the coin price could be ready for an upward movement soon. However, a daily candlestick above the mentioned supply level would invalidate any bearish theory. Therefore, if buyers can put more effort into their tension in the market, a shift in the trend above the $0.0001099 high level will be achieved, signaling the potential for significant gains.
Levels:
Resistance levels: $0.0000400, $0.0000500, $0.0000600
Support levels: $0.0000150, $0.0000130, $0.0000120
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
LBLOCKUSD price is likely to hit the $0.0001099 previous level soon as the market selling pressure seems to have ended as seen from the chart below.
The sustained bearish pressure at a $0.0000159 low value during yesterday’s session has made the cryptocurrency price remain below the supply trend levels in its recent low.
At the press time today, the bears’ action caused a drop in the Lucky Block price to a $0.0000113 support level with a bearish doji candle below the EMA-50 as the daily chart resumes. It indicates that the current trend may encounter a bullish reversal soon at the $0.0000113 current support to hit the $0.0001099 previous high.
Meanwhile, further downsides are unlikely as the market price of LBLOCKUSD suggests an uptrend on the daily signal. It suggests that the selling pressure on the Lucky Block market might be subsiding to hit the $0.0001099 high mark, extending to a $0.0001200 upper resistance level in the coming days in its higher time frame.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
The currency pair is gathering momentum to hit the previous high level as it begins its bullish trend on the medium-term outlook. The coin seems to have pulled back a little, but the overall trend is still bearish in its medium-term, as the price rises below the supply trend level.
The coin price is rising below the moving averages, indicating a bearish market sentiment. Thus, the LBLOCKUSD is correcting and will resume its bullishness soon.
A rise to a $0.0000158 high level below the EMA-50 by the bulls as a pullback shortly after the 4-hour chart opens today affirms the returns of the long traders into the market.
Thus, the price of Lucky Block is set to advance further to hit the $0.0001099 supply level, if the bulls can redouble their efforts and push above the current supply level, offering strong resistance to the crypto price.
Additionally, the LBLOCKUSD pair is pointing upwards at around the 57% range of the daily stochastic. It indicates that the selling pressure has ended, and Lucky Block’s price may continue its bullish rally.
We will now be looking into the emergence of more buyers in the oversold region of the market to drive the coin price high to hit the $0.0001099 supply level in the days ahead in its medium-term time frame.
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