Lucky Block Price Prediction- May 24
The Lucky Block (LBLOCKUSD) price might head towards the $0.02000 supply level and is very likely to continue growing as we are seeing a bullish correction in place. The coin gave a bullish breakout from the $0.0000917 level, suggesting buyers are making a recovery attempt. Thus, if the crypto’s price sustains above the $0.0003429 high value, the potential rally could surge higher to hit the $0.02000 value and beyond.
Key Levels:
Resistance levels: $0.0002500, $0.0002600, $0.0002700
Support levels: $0.0001000, $0.0000900, $0.0000800
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
The LBLOCKUSD price is in a bearish market in its long-term outlook. This is due to the high order flow by the short traders. The current price can be seen in green below the supply trend lines. Hence a turnaround is near for the Lucky Block buyers as the selling pressure has been exhausted.
The interactions from the bears on the crypto in the previous action have made the coin market trade below the moving average lines in its recent price level.
Meanwhile, the coin has rebounded after its massive drops. The corrective move at the $0.0000917 resistance value below the two EMAs shortly after the commencement of the daily session today is a bullish recovery attempt that shows a power struggle at the overhead resistance trend line, resisting the start of another bear cycle.
Thus, should the bulls change their orientation and the buying pressure persists, the LBLOCKUSD might possibly give a bullish breakout of the bearish pattern to retest the $0.0003429 previous supply level, this may eventually lead to the hibernation of any further bearishness.
Hence, continuation to the upsides is likely as indicated by the daily stochastic which is in an upward direction. As a result of this, the forthcoming bullish pattern might head towards the $0.02000 high value in the coming days in its higher time frame.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
The Lucky Block price is in a bearish trend in its medium-term outlook. This is due to the inflow from the sell traders. The coin has been making a lower low and lower high in the previous action which has dropped the coin price below the supply trend lines in its recent time.
After completing the downward moves, the bulls made a pullback at the $0.0000917 high mark slightly below the EMA-9 as the 4-hourly chart opens today. This shows that the bulls are ready to dominate the market. Thus, there is a higher probability of the price breaking up its previous resistance level of $0.0002681 and going up much further.
Next, the LBLOCKUSD market is pointing upwards on the daily stochastic. It implies that further selling pressure is unlikely at the moment. We will now be looking into the emergence of more buyers in the oversold region of the market. This bullish trend might possibly head towards the $0.02000 high value in the days ahead in its medium-term forecast.
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