Lucky Block Price Prediction – May 29
The market price of LBLOCKUSD may experience a price reversal at the $0.0000265 daily candle soon to resume its upside moves. Based on the outlook, should the bulls change their buying orientation and push higher above the $0.0000900 high mark, a bullish breakout confirmation will reflect the improved market sentiment. Doing so will offer a higher footing for buyers to prolong this recovery. Thus, a post-retest rally may drive the coin prices high to hit the $0.0001200 upper resistance level, resulting in potential growth and investment for the coin traders.
Key Levels:
Resistance levels: $0.0000400, $0.0000500, $0.0000600
Support levels: $0.0000200, $0.0000100, $0.00000900
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
LBLOCKUSD indicates a downward trend with a price reversal sentiment in its long-term perspective. The coin is trading below the EMAs. However, the current trend will soon be nullified as the market is oversold already.
The bears’ action on the crypto to a $0.0000268 low value in the past session has contributed to its bearishness in recent times.
Earlier today, action from the sell traders further dropped the coin price to a low of $0.0000265 value below the resistance level. Meanwhile, with these current dips, traders may seize this opportunity and buy the token for more gains in the future. Doing so will offer a higher footing for the coin price to turn positive and rise further.
Hence, there is a possibility of a price reversal at the $0.0000265 support value as the market is now oversold. It is therefore expected that the buy investors will move in sooner to turn around the Lucky Block price action. As a result, the price action may likely hit the $0.0001200 supply level in the days ahead in its higher time frame.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
Lucky Block is possibly making its way up after the price reversal at the $0.0000265 level to overcome support and signal a pump-up. It looks like the price will want to bounce up again in the medium term. The coin price is below the supply level which suggests its bearishness.
A rise to a $0.0000267 high level by the bulls shortly after the 4-hour chart opens today affirms the returns of the long traders into the market. Thus, the price of Lucky Block is set to advance further if the bulls can redouble their efforts and push above the current supply level.
With sustained buying, the coin price could challenge another resistance zone of $0.0000393 above the moving average line, indicating buyers’ attempt to prolong the bullish rally.
Next, if additional selling power is prevented, a post-retest rally may drive the prices high to hit the $0.0001200 resistance soon in its medium-term time frame.
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