Lucky Block Price Prediction – October 18
Due to the uncertainties in the crypto market, the LBLOCKUSD pair has been moving in a negative direction for a while. There is a possibility for the coin price to go higher from support soon after completing the low dips to experience another bullish reversal price action. The coin price might possibly break out and resume its uptrend soon if buyers should trigger their buying pressure and break up the $0.0002197 resistance level, the bullish correction pattern may prolong the price to the $0.001000 high trend line. Thus, a clear buy signal.
Levels:
Resistance levels: $0.0001000, $0.0001100, $0.0001200
Support levels: $0.0000400, $0.0000300, $0.0000200
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
The overall sentiment regarding the LBLOCKUSD pair based on the current price on the long-term perspective right now is bearish and traders are going short at the moment. Meanwhile, the price will go higher from support soon as the price projector signal remains in an uptrend.
The sustained pressure from the bears at the $0.0000285 support level during yesterday’s session has contributed to its bearishness in its recent low.
Today, the bulls are trying hard to remain above the $0.0002197 supply mark, so there is a possibility for the Lucky Block price to pull back at the current support of $0.0000285 value to invalidate the bearish theory.
However, 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.
Additionally, the daily signal points up in the oversold region: hence, the price of LBLOCKUSD may likely go higher from support soon if the bulls should add more efforts to their tension in the market. As a result of this, the next target could be the $0.001000 high trend mark soon in the long-term perspective.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
The LBLOCKUSD pair is in a bearish market zone in the medium-term time frame. The price bar can be seen below the moving average lines. Further, the coin price will go higher from support soon as the market is already oversold.
Sustained pressure from the short traders to a $0.0000285 low mark in the previous action has led the Lucky Block price below the supply levels in recent times.
The price hovers at 0.0000285 support level below the moving averages as the 4-hour session opens today. All eyes are glued on $0.0001047 but sellers’ congestions at $0.0000285 support value have become impenetrable.
The bulls are also battling the resistance at the $0.0001047 supply level. Thus, if the price closes above this level, it would be a turnaround for Lucky Block buy traders.
Additionally, the pair has fallen below the 5% range of the daily stochastic. It indicates that the pair is now in the oversold region of the market. This means that the selling pressure is likely to run to an end soon and the price of LBLOCKUSD is expected to go higher from support to resume the bullish trend.
If this is attained by the bulls, the coin price might further increase to a $0.001000 resistance level which could lead to additional gains for the buy investors in its medium–term outlook.
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