Lucky Block Price Prediction- June 5
The Lucky Block price may possibly pull back to resistance after updating the lows. After testing the bottom support, a usual response would be a bullish reversal; should buyer’s eventually wrestled trend control from sellers and rebound from the $0.0001080 support level, the bullish momentum might possibly drive the coin price to a high at $0.02000 supply trend line.
Levels:
Resistance levels: $0.0001500, $0.0002000, $0.0002500
Support levels: $0.0000900, $0.0000800, $0.0000700
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
LBLOCKUSD is bearish in its long-term outlook. The sellers are now involved in the trading activities. However, the impulsive move by the bears at the $0.0001101 support mark in the past few days has made the coin price stay below the trend levels in its recent low.
The bears made a drop in the coin price to the $0.0001080 low value below the supply trend levels as the daily chart resumes today. This is as a result of low bullish momentum.
However, the 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.
Meanwhile, there is a possibility of price reversal at the mentioned support level as the market is now at the oversold region of the daily stochastic. This implies that the selling momentum will end soon and time to gain more strength by buyers is near.
The next bullish correction phase could reach a high at $0.02000 upper supply mark in the days ahead as we watch the Lucky Block market turns bullish sooner in its long-term outlook.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
The market value of Lucky Block on the medium-term time frame is also in a bearish trend market. The price can be seen below the moving averages. This is as a result of the high bearish impact on the coin market.
In the previous actions LBLOCKUSD has been having high interference from sellers which really made the cryptocurrency to stay in a downward movement in its recent times.
The price responded to the shift in the market structure and is currently below the moving averages at the $0.0001080 support value.
Should the coin price turned up from the mentioned support and jump above $0.0002300 supply mark, the bearish thesis would get invalidated. Further, long traders can also buy the coin at this trend with a lower price to achieve more gains in the future.
Thus, there is likely for a price retracement soon as the market value of Lucky Block is oversold already. Therefore a shift in trend to a high at the $0.02000 supply mark may be achieved in the days by in its medium-term outlook.
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