Lucky Block Price Prediction – May 16
The LBLOCKUSD price will soar higher to retest the $0.0000940 high mark. The coin having reached the oversold region is likely to reverse and face the positive side soon. If the bulls can break up the mentioned supply level, then the post-retest rally may hit the $0.0001200 upper resistance level, which will be a turnaround for the coin holders.
Key Levels:
Resistance levels: $0.0000400, $0.0000500, $0.0000600
Support levels: $0.0000250, $0.0000100, $0.0000050
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
The LBLOCKUSD pair portrays a bearish market trend. The price may soar higher to retest the previous high in its long-term outlook. The price responded to the shift in the market structure and is currently below the moving averages. 
The bears’ performance on the crypto during the last session has made the price stay below the moving average in recent times.
Actions from the bears dropped the Lucky Block price down to the $0.0000302 support level below the EMA-50 as the daily chart resumes today. Hence, should the bulls exchange hands with the sell traders and close above the $0.0000940 resistance value, additional intraday gains would be recorded for the coin buyers.
Hence, buyers may seize this opportunity and buy the coin at a lower rate to get more gains shortly, this would move the market trend further up.
Notably, there is a possibility of price rejection at the mentioned support value as the market is now trading below the 20% range of the daily stochastic. This will bring the emergence of the bulls to resume the bullish trend soon. If this is achieved, the LBLOCKUSD will soar higher to reach the $0.0001200 upper high mark in the coming days in its higher time frame.
LBLOCKUSD Medium-term Trend: Bearish (4H chart)
The currency pair’s orientation trades in a bearish market in its short-term outlook. The price bar is seen below the moving averages.
The intervention of the sell traders at the $0.0000308 support level in the previous action has made the coin price drop below the supply trend line lately.
The coin price dropped significantly below the resistance trend lines at the $0.0000306 support level as the 4-hour chart begins today. This is due to a high bearish impact on the market price. Thus, traders are advised to seize this opportunity and buy the coin now at a lower price for more gains ahead.
Furthermore, the Lucky Block price is now closer to the oversold region of the daily stochastic, which means that the selling pressure will soon be exhausted, therefore we can expect the bulls to resume the uptrend sooner.
Attaining this by the bulls could drive the coin price to soar higher to retest the $0.0000450 high level which may likely extend to the $0.0001200 supply value in the days ahead in its medium-term time frame.
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