Lucky Block Price Prediction – October 9
LBLOCKUSD price is set to retrace at the current trading level to resume its uptrend soon as usual. Therefore, if the buyers should accelerate their price actions, the coin price could turn positive and break up the $0.0002197 resistance level which may prolong the recovery pattern to the $0.001000 upper resistance level and beyond.
Levels:
Resistance levels: $0.0000900, $0.0001000, $0.0001100
Support levels: $0.0000700, $0.0000600, $0.0000500
LBLOCKUSD Long-term Trend: Bearish (Daily Chart)
As an outcome of low volume from the bulls, the LBLOCKUSD pair is in a bearish trend on the daily chart. The price responded to the shift in the market structure and is currently trading below the moving average. At the moment, the crypto is set to retrace from the current support as the market is oversold.
The crypto price has been below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days. However, this will soon be invalidated as the market is already oversold.
The interaction from sellers drove the price of Lucky Block down to a low at $0.0000292 value below the moving average to resume the daily session today. Meanwhile, traders who buy the coin during a massive bearish market will also make a profit.
As a matter of fact, if all the support holds and the buy traders could push higher, the Lucky Block price may likely turn upside and rise above the $0.0002197 previous high barrier.
Notably, the market price of LBLOCKUSD is set to retrace soon due to the fact that the daily stochastic now points up in the oversold region. This means that the selling momentum in the coin price will likely end soon.
We can now expect the emergence of buyers to fill the market, if this is achieved; the next jump by the bulls may reach a $0.001000 upper resistance level in the days ahead in its higher time frame.
LBLOCKUSD Medium-term Trend: Bearish (4H Chart)
The market value of Lucky Block in the medium-term time frame is seen below the moving average. Currently, the coin is set to retrace from the support level to turn the market trend around.
The sustained bearish pressure to a $0.0000301 low level in the previous action has dropped the coin price below the supply level in its recent low.
Action from the sell traders further dropped the price of LBLOCKUSD down to the $0.0000292 support value below the resistance level as the 4-hour chart opens today.
If buyers stepped into this uncertainty, the coin price may rise back to retest the $0.0001045 previous high mark to invalidate any further bearish thesis.
Thus, the price of Lucky Block is set to retrace from the mentioned support if the bulls can redouble their efforts and push above the current supply level, as a result, the price may likely plunge higher and retest the high accumulation zone of $0.0000960 level.
Similarly, the price of LBLOCKUSD is set to retrace from the $0.0000292 support level as the market now trades in the oversold region of the daily stochastic. This means that the selling pressure is not likely to continue.
In light of this, the bulls may likely touch the $0.001000 high value in the days ahead in its medium-term outlook.
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