Lucky Block Price Prediction – September 5
The Lucky block market is on the verge of possible reversal as the selling pressure is about to be completed. The crypto is trading in the oversold region. Hence, the coin price might possibly rebound and turn positive at the $0.0001140 support level if further selling motive is prevented. If this is achieved by the long traders, the price breakout may test the previous high of $0.0003429 value and this may likely hit the $0.001000 supply trend line and beyond and set the potential for future growth.
Key Levels:
Resistance levels: $0.0002000, $0.0002100, $0.0002200
Support levels: $0.0000900, $0.0000800, $0.0000700
LBLOCKUSD Long-term Trend: Bullish (Daily Chart)
LBLOCKUSD is in a bullish posture in its long-term view. The price is above the two EMAs, indicating an upward momentum and the high impact of buyers in the market.
The sustained bullish pressure at the $0.0001193 supply level in the past few days actually made it possible for the buy investors to retain the strength in its recent price level.
Today, despite the moves by the sell traders the price of Lucky Block remains in an uptrend at the $0.0001140 support value which is above the two EMAs. Hence, staying above the supply levels indicates a strong possibility for a bullish correction.
Therefore, should buyers increase their buying actions and step into this uncertainty, the coin price may rise to retest the $0.0003429 resistance point which would strengthen the bullish pressure.
Notably, the pair is on the verge of reversal at the mentioned support as the price of
LBLOCKUSD now approaches the oversold region of the market. It implies that the selling pressure will soon be exhausted.
We will now be looking into the emergence of buyers in the oversold region of the market.
This crossover could encourage the breakout rally to hit the $0.001000 supply level in the coming days in its higher time frame.
LBLOCKUSD Medium-term Trend: Bullish (4H Chart)
The LBLOCKUSD pair is in a bullish movement zone in its medium-term outlook. However, the coin price which is in red above the EMA-50 is on the verge of reversal as the market is oversold already.
The sustained pressure from the bears at the $0.0001149 support level in the past few hours has contributed to its bearishness in its recent low.
The drop in the price of Lucky Block to the $0.0001140 low value above the EMA-50 as the 4-hour chart commenced today has no serious effect on the market as the price remains in an uptrend.
Hence, should buyers add more energy to their buying pressure, the crypto price could break above the $0.0001602 supply level which will offer a strong resistance to the crypto price.
Additionally, the crypto is on the verge of reversal and further downsides are unlikely as the market price of LBLOCKUSD has reached the oversold region. The coin will resume an uptrend soon, so we can now grow in confidence that a potential buy is coming near.
The price jump could hit the $0.001000 resistance level in the days ahead, indicating a strong supply zone for a potential BUY in its medium-term perspective.
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