Lucky Block Price Prediction- October 6
There is a possibility for the LBLOCKUSD to rise to the upside and test the previous high at the $0.0007163 trend line. Should the bulls accelerate their forces in the market, the recovery rally may touch the $0.0400 supply mark.
Levels:
Resistance levels: $0.0005000, $0.0005100, $0.0005200
Support levels: $0.0002700, $0.0002600, $0.0002500
LBLOCKUSD Long-term Trend: Bearish (1H Chart)
Battle Infinity is bearish in the long-term time frame. The short traders are manipulating the market prices at the moment; meanwhile, this is ending soon as the market is exhausted already by the sellers.
Earlier today, the long traders pushed the coin price to the $0.0003320 supply mark, the momentum was lost and the bears dropped the price down to a low at $0.0002799 value. With this current trend pattern, traders can join the market and buy the coin at a lower rate, this will amount to intraday gains in the future.
However, the LBLOCKUSD price will rise further soon; the selling pressure will end soon as the market is already oversold, as can be seen from the 1-hourly chart below.
This means that the crypto is about to rise and the upcoming rally may lead the coin price to a high at $0.0400 upper value in its long-term outlook.
LBLOCKUSD Short-term Trend: Bearish (15-Minute Chart)
The currency pair is trading below the moving averages, an indication of bearish market sentiment in its lower time frame. Thus the LBLOCKUSD is making a correction and will resume its bullish trend soon.
Currently, the coin price shows a retracement mark at the $0.0002895 supply value, this indicates that the bulls are returning to the market to manipulate it. Thus, an increase in the buying pressure will increase the possibility of a bullish breakout.
However, the market being oversold means that the selling pressure is over. So, the bulls are now set to take the pair to a psychologically key level in the upper area. In this case, the price may hit $0.0400 on the upside as the day goes by in its lower time frame.
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