Lucky Block Price Prediction- October 5
The market price of LBLOCKUSD may resume its upside moves soon. Should the coin retest the supply trend line at the $0.0007163 mark for another breakout attempt, a close above the mentioned supply, will trigger this pattern and a buying opportunity for traders.
Key Levels:
Resistance levels: $0.0005000, $0.005100, $0.005200
Support levels: $0.0003300, $0.0003200, $0.0003100
LBLOCKUSD Long-term Trend: Bearish (1H Chart)
Lucky Block is bearish in its long-term outlook. Crypto is responding to the selling activities at the moment and also the inflows from the bears. However, the downtrend is ending soon and the possibility of more upside is near.
Earlier today, the buy investors pushed the price up from $0.0003403 value to the $0.0003507 supply trend line, the momentum was lost while the bears drove the price down to a low at the $0.0003297 level. Thus, the buy traders can join the market with this pattern at a lower price for more gains in the future.
More so, the LBLOCKUSD pair is now trading in the oversold region, which means that the buyers will return and dominate the coin market soon. The target might possibly be the $0.03000 upper high mark in the days ahead in its long-term outlook.
LBLOCKUSD Medium-term Trend: Bearish (15-Minute Chart)
The LBLOCKUSD pair is in a downward move in its medium-term outlook. This is because the short traders are more actively involved in the order flow.
The bulls attempted the $0.0003486 resistance mark and later dropped to a $0.0003322 low level as the 15-minute chart begins today. Thus, if the buyers break up the near resistance value, a possible relief rally may drag the coin price to the $0.03000 resistance mark.
Meanwhile, the market is now around the oversold region of the price indicator, this suggests that the new pattern trend is about to resume, if this is achieved, the bulls may likely reach a high at the $0.03000 trend line in the coming days in the lower time frame.
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