Lucky Block Price Prediction – June 4
LBLOCKUSD at the moment is on the verge of retracement. The coin price may likely retrace in a bullish direction soon, and it may soon be prepared for another probable upward surge. The price may perhaps retrace to retest the previous high of $0.0001099 and even increase further if buyers can demonstrate their strength and trade hands with sellers at the current support level of $0.0000265.
Levels:
Resistance levels: $0.0000297, $0.0000298, $0.0000299
Support levels: $0.0000266, $0.0000265, $0.0000264
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
The Lucky Block market has a bearish prognosis on its long-term outlook as shown in the chart below. This is due to the influx of sell traders. The bears’ prolonged pressure at the $0.0000266 support level throughout yesterday’s session contributed to the bearishness of its current low.
Today, however, the bears dropped the price of LBLOCKUSD to a support level of $0.0000265, which is below the moving average. Given the existing trend, consumers can purchase the crypto for a lower price, pushing the market upward.
As a result, if the bulls increase the amount of market tension, the price trend will rise over critical levels.
Furthermore, LBLOCKUSD is anticipated to retrace soon and go higher as the market is presently trading in the 30% region of the daily stochastic, implying that the selling pressure will ease shortly. This will drive buyers to resume an uptrend, and the $0.0001099 supply level is expected to be broken soon in the longer term.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
According to the chart below, the medium-term outlook for the Lucky Block market is bearish. It also signals the next substantial price shift, as the selling pressure will soon be exhausted.
The sell traders made a downward move to the $0.0000269 support level before the end of yesterday’s session. This gave sellers more strength to continue with the trend in its recent low.
As the 4-hourly chart begins today, bearish actions sent the coin price lower, reaching the $0.0000265 support level below the EMA-50.
With strong buying pressure and positive market sentiment, the crypto has the potential to retrace and test its previous high of $0.0000398 and attract more investors.
The pair is now approaching the oversold region of the daily stochastic. It indicates that the Lucky Block price selling pressure may end soon. We will now be looking into the emergence of more buyers to break up the $0.0001099 high level which may continue to the $0.0001200 supply level in the days ahead in its medium-term time frame.
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