Lucky Block Price Prediction- May 12
LBLOCKUSD price will rise massively soon as the bulls are set to take the market up in the oversold region at the moment. After testing the bottom support, a usual response would be a bullish reversal; should buyers push higher and breakout from the $0.0002089, the coin price may rise massively to retest the previous high of $0.0002681 which could extend the price to a $0.02000 upper high level.
Key Levels:
Resistance levels: $0.0002500, $0.0002600, $0.0002700
Support levels: $0.0001600, $0.0001500, $0.0001400
LBLOCKUSD Long-term Trend: Bearish (4H Chart)
As an outcome of low bullish momentum, the LBLOCKUSD trades in a bearish trend. The price bars can be sighted below the resistance levels indicating a bearish trend.
The bearish pressure at the $0.0001531 support level in the past few hours has made the coin stay below the supply trend levels in its recent high.
The coin rebounded from the mentioned support and moved up to the $0.0001590 which further increases to the $0.0001609 supply value below the two EMAs shortly after the commencement of the 4-hourly chart today. This shows the bulls are set to push the price of Lucky Block higher. Thus, a possible breakout from the patterns resistance trend line will provide a long entry opportunity for traders.
Furthermore, the LBLOCKUSD price will rise massively as indicated by the daily signal which is in an upward direction in the oversold region of the daily stochastic. This means that further downward move is unlikely, so we can expect the bullish correction pattern to possibly reach the $0.02000 high level in the nearby days in its higher time frame.
LBLOCKUSD Medium-term Trend: Bullish (1H Chart)
As we can see the LBLOCKUSD pair is having a bullish posture in the medium-term term outlook. The price bars can be sighted above the EMA-9 approaching the overhead resistance indicating a bullish trend.
Increase action by the bulls to the $0.0001584 resistance value in the previous action has sustained the bullishness of the cryptocurrency.
Despite the inflows from the bears, the bulls successfully push the coin price up to the $0.0001609 high level above the EMA-9 shortly after the commencement of the 1-hourly chart today. This affirms that the buy traders are actually trading the coin at the moment and are set to increase the coin price massively.
Also, the market is currently trending upward as shown by the daily stochastic. This indicates that the market value of the Lucky Block will continue to rise. In light of this, it is anticipated that the bulls will swing the coin price upward and may eventually hit the $0.02000 supply value in the next days in its medium-term perspective.
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