Lucky Block Price Prediction – February 12
It is time for the LBLOCKUSD to grow again. The coin market is anticipating hitting the key resistance level of $0.0002000 soon to bolster the recovery sentiment. Should buyers change their orientation and stop further selling pressure; the bullish pattern may increase the coin price to retest the previous high of $0.0001069 value which might hit the $0.0002000 supply trend line.
Levels:
Resistance levels: $0.0000700, $0.0000800, $0.0000900
Support levels: $0.0000500, $0.0000400, $0.0000300
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
The LBLOCKUSD pair is in a bearish market zone. The price currently trades slightly below the EMA which proves its bearishness in the long-term outlook.
The bears’ activity at the $0.0000388 support level during yesterday’s session has made the coin price drop below the supply trend line in its recent low
Actions from the short traders further drop the Lucky Block price down to a $0.0000387 low level below the EMA-50 as the daily chart opens today. Nevertheless, today’s price drop has still not stalled the bull run, traders might seize this opportunity to invest in the coin now at a lower rate for more gains ahead.
Meanwhile, if the bulls can improve their buying skills, a retest of the dynamic resistance trend line at the previous high of $0.0001069 could refuel the bullish momentum in the LBLOCKUSD price and render any bearish correction invalid. Investors who buy at this level can expect sustainable growth above the $0.0001069 price level.
In addition, the daily stochastic indicates an upward trend; this means that further selling pressure is uncertain. Hence, the next bull target might hit the $0.0002000 price level in the near days in its long-term outlook.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
The momentum on the medium timeframe (4H) is also bearish. But it seems likely that the bulls are about to take over and push us higher. The price bars are seen above the EMA-50, this means that buyers are coming in gradually to dominate the market.
The market price reversal at level $0.0000388 below the EMA-50 as the 4-hour chart opens today indicates that LBLOCKUSD investors are active and ready to move the price up to a significant level at the upside. Further, the rising prices reclaimed more confirmation for a bullish recovery.
If the bulls could add more pressure and the coin price sustains above the $0.0000494 supply level, we can expect a good upside move up to its previous swing high of $0.0000552, and then we can buy there as well.
In a like manner, the momentum indicator which is pointing up also indicates that the price action of LBLOCKUSD will remain in the upside and a $0.0002000 high level might be the target in the days ahead in its medium-term perspective.
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