Lucky Block Price Prediction – February 6
LBLOCKUSD will rise soon and the pair can experience another bullish reversal price action and the price could be ready very soon for another upward move potential. If the forces from buyers in the market should increase and the current support level at $0.0000390 holds, the coin price may retest the $0.0001074 previous swing high and this may extend to the $0.0002000 upper high mark 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)
The LBLOCKUSD price can retest 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 two EMAs; which means that it’s in a bearish market zone at the moment.
The price drop to the $0.0000371 low value in the past few days has made the coin price trade below the supply levels in its recent low.
The price action of Lucky Block at the $0.0000390 support level as the daily chart opens today is a result of low bullish momentum. With the overall market trend still bearish, the coin price is likely to plunge higher and retest the high accumulation zone of $0.0001074 value.
Meanwhile, the market price of Lucky Block is in the oversold region of the stochastic, this means that the selling pressure has reached exhaustion, and the expected upside move in the price could be high enough to retest the $0.0001074 previous swing high in the coming days in its long-term outlook.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
The currency pair is about to resume its uptrend move to retest the previous high in its medium-term outlook. The coin at the moment is trading below the moving averages, an indication of a bearish market sentiment.
The bearish pressure at the $0.0000394 support level in the past few hours has made the coin stay below the supply trend levels in its recent low.
Actions from the bears further dropped the LBLOCKUSD price down to a $0.0000393 support level below the supply levels as the 4-hour chart resumes today.
A retest of the dynamic resistance trend line at the previous high of $0.0000552 could refuel the bullish momentum in the Lucky Block price and render any bearish correction invalid. Investors who buy at this level can expect sustained growth above the $0.0000552 price level.
Additionally, the pair is pointing upwards at around the 19% range of the daily stochastic. It indicates that the Lucky Block price is now in the oversold region of the market. It implies that the selling pressure will end soon.
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 retest the $0.0001074 previous high in the days ahead in its medium-term time frame. Hence a buy signal and the best crypto signal for coin traders.
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