Lucky Block Price Prediction – February 8
The LBLOCKUSD price can retest the $0.0001074 supply level as it is about to resume its bullish race. The cryptocurrency is trying hard not to fall heavily to the downside. Therefore, if the bulls could trigger their forces in the market, the price may likely reverse and turn positive to reach the mentioned supply level which could extend the crypto price to a high at $0.0002000 level and beyond.
Levels:
Resistance levels: $0.0000600, $0.0000700, $0.0000800
Support levels: $0.0000400, $0.0000300, $0.0000200
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
LBLOCKUSD price is aiming at retesting its previous swing high soon as the market price action is bearish and oversold already in its long-term perspective. This is due to the high inflow from the short traders. Further, the price is trading below the EMA line; which means that it’s in a bearish market zone at the moment.
The sustained bearish pressure at the $0.0000380 support value during yesterday’s session has made the crypto price remain below the supply trend levels in its recent low.
Meanwhile, the current price of Lucky Block at a $0.0000376 low value below the supply trend lines has not stale the market condition of the crypto. Thus, traders who buy the coin during the bearish market will also make gains in the future.
Thus, an additional increase in the buying momentum may turn the price of Lucky Block positive to retest the $0.0001074 previous high mark, bolstering buyers for a sustainable rally.
Likewise, the Stochastic is also showing the market is already oversold. This means that the selling pressure will end soon. This will compel the bulls to resume the bullish trend to retest the $0.0001074 supply level; the $0.0002000 resistance level might be reached in the days to come in its long-term outlook.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
The market price of LBLOCKUSD is currently trading in the bearish market zone. This is due to the inflows from the sell traders. However, the coin price may reverse soon to retest the previous high as the market is oversold already.
The sell traders made a downward move to the $0.0000381 support level before the end of yesterday’s session. This gave sellers more strength to continue with the trend in its recent low.
Actions from the bears further dropped the coin price down to the $0.0000377 support level below the EMA-50 as the 4-hourly chart resumes today. Hence, should the bulls exchange hands with the sell traders and close above the $0.0000552 resistance value, additional intraday gains would be recorded for the buy investors.
Additionally, the price of Lucky Block might swing up to retest its previous high at the $0.0000552 value soon as the coin market price now points up at the oversold region, this will compel the bulls to resume the upward move soon and in this case, the price might push higher to the $0.0002000 supply mark and beyond in the days ahead in its medium-term time frame.
You can purchase Lucky Block here. Buy LBLOCK
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