Lucky Block Price Prediction – May 20
The Lucky Block price might possibly retest the $0.0003429 resistance level soon. The cryptocurrency is very likely to face the positive side soon after completing the dip lows. Therefore, if the bulls could wrestle with the bears at the mentioned support, the coin price may break up from the support trend line at $0.0001202 to release the trapped bullish momentum. Hence, the upcoming bullish pattern may push the price to the $0.0200 resistance mark and beyond.
Key Levels:
Resistance levels: $0.0002300, $0.0002400, $0.0002500
Support levels: $0.0001300, $0.0001200, $0.0001100
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
Analyzing the chart above, we can clearly see that LBLOCKUSD is in a bearish market zone. The price currently trades below the two EMAs. This means that the coin is in a bearish momentum.
The cryptocurrency has been trading below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days. This has made it difficult for the coin to remain in an uptrend in its recent low.
Today, the bulls are trying hard to remain above the $0.0003429 supply mark, so there is a possibility for the coin price to pull back at the $0.0001202 current support level to invalidate the bearish theory.
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.
Additionally, a rise in the upcoming rally and breakout above the $0.0003429 previous high value may turn around the market price of Lucky Block and the recovery pattern might reach the $0.02000 upper resistance trend line in the days ahead in its higher time frame.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
The short traders are also actively involved in the order flow in its medium-term outlook. This is a result of a low bullish outcome. This means that the LBLOCKUSD market is in a bearish trend in its medium time frame.
The bears’ activity at the $0.0001252 supply level during the previous action has made the coin price remain below the supply trend line in its recent high.
Just after a few minutes of opening the 4-hourly chart, the bulls rebounded and triggered up the momentum to the the$0.0001305 resistance value below the moving averages, this is evidence of a bullish recovery pattern by the long traders to resume the uphill trend. This will actually enable the pair to rise further.
In a similar vein, the market price of Lucky Block is in an uptrend on the daily stochastic. Thus, a further rise in the market price of the crypto is possible, if the buy traders can trigger their buying pressure and break up the $0.0002681 level. The price might possibly reach a $0.02000 supply trend mark soon in its medium time outlook.
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