Lucky Block Price Prediction – October 20
Due to the instability in the crypto market, the LBLOCKUSD pair at the moment remains on the negative side. However, the pair could experience another bullish rally soon if the bulls should push harder and exchange hands with the bears at the $0.0000271 current support, the price may likely reverse in a bullish direction and may perhaps retest the previous high of $0.0002000 which might expose the Yen price to the $0.001000 upper high level and beyond.
Levels:
Resistance levels: $0.0001100, $0.0001200, $0.0001300
Support levels: $0.0000700, $0.0000600, $0.0000500
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
The Lucky Block price is in a bearish trend in its long-term view as can be seen from the chart below. The bears are now involved in the order flow, but it seems that the bulls are about to take over and the price could experience another bullish rally soon.
The sustained bearish pressure at the $0.0000288 support value during the past few days has made the crypto’s price stay below the supply trend line in its recent low.
Today, the bears however made a drop to a $0.0000271 support level below the moving averages; this is an indication of a bearish momentum in the context of the strength of the Yen. The bears are actually dictating the market conditions at present.
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.
With the overall market trend still bearish, if the buy traders could wrestle with sellers at the $0.0000271 value, the Lucky Block price is likely to plunge higher and retest the high accumulation zone of $0.0002000 which would increase the chances of further bullish recovery.
In a like manner, the Lucky Block pair is likely going to reverse and experience a bullish rally soon as the market is now very close to the oversold region of the daily stochastic; it means that the selling pressure will end soon.
This will compel the buy traders to resume an uptrend and may likely break up the $0.0002000 supply level to hit the $0.001000 upper resistance in the days ahead in its higher time frame.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
According to the chart below, the medium-term outlook for the Lucky Block market is in a bearish trend zone. The bears have benefited from the recent market structure. Further, the price could experience a bullish rally soon as we have just spotted a new bullish correction in place.
Sustained pressure from the short traders to a $0.0000286 low mark in the previous action has led the LBLOCKUSD price below the supply levels in recent times.
The $0.0000288 price level served as a solid resistance for the coin price as a pullback below the EMA-50 as the 4-hour session resumes today. This indicates that bulls are gradually gaining access to the market at present and may likely take over sooner.
Thus, a break above the $0.0000510 previous supply mark would intensify the buying pressure on the crypto.
Because there is currently a bullish correction in place, it is extremely likely that the coin price will experience a bullish rally soon.
Additionally, there is likely to be a further increase in the price of Lucky Block as indicated by the daily signal which is pointing upwards. We can therefore expect the buy traders to push the coin price above the overhead resistance trend line which may possibly reach the $0.001000 supply trend line in the coming days in its medium-term time frame.
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