Lucky Block Price Prediction- May 5
Lucky Block‘s price is likely to resume the next bull cycle and move above the resistance trend lines soon. The cryptocurrency having reached the oversold region may turn upside very soon. If the bulls disagree with the bears and increase their buying strength, the coin price could jump up and closes above the $0.0002681 high level, further bearishness would be invalidated and the price could rise further to hit the $0.02000 supply level.
Levels:
Resistance levels: $0.0002300, $0.0002400, $0.0002500
Support levels: $0.0001800, $0.0001700, $0.0001600
LBLOCKUSD Long-term Trend: Bearish (4H Chart)
The LBLOCKUSD price is in a bearish market at the moment in the higher time frame, this is due to the high impact of the sell traders in the order flow. Further, the price action can be seen below the two EMAs.
Pressure from the short traders at the $0.0001706 low value in the previous action has sustained its downward stability in its recent low.
The impulse move from the bulls increased the coin price up to the $0.0001804 high mark below the two EMAs as the 4-hourly session opens today. This was overridden by the sell traders as the price found new support at the $0.0001736 value. If buyers could exchange hands with sellers and push the price of Lucky Block upside above the $0.0002681 resistance value, further selling pressure will be hibernated.
Similarly, the selling pressure is exhausted as the market now trades below the 13% range of the daily stochastic. This will cause the bulls to resume the uptrend soon and in this case, the forthcoming bullish race might possibly extend the coin price to the $0.02000 high mark in the days ahead.
LBLOCKUSD Long-term Trend: Bearish (1H Chart)
The LBLOCKUSD pair indicates a downward trend with a bearish sentiment in its medium-term perspective. The coin price can be seen below the two EMAs which are fanned apart. This is due to the high inflows from the sell traders.
The price drop to the $0.0001706 support level during the previous action has made the price remain below the supply levels in its recent high.
Earlier today, after making a smooth ride up to a $0.0001804 high mark, interaction from sellers drove the coin price down to a low of $0.0001722 value below the moving averages.
Commitment from the bulls now retraced the price of LBLOCKUSD from the mentioned support to a $0.0001748 high mark.
Hence, the current pullback at the $0.0001748 resistance level suggests the return of the buy investors to dominate the market. This indicates that bulls are gradually gaining access to the market to resume the next bull cycle. Thus, a break above the $0.0002076 supply mark would intensify the buying pressure on the cryptocurrency.
Meanwhile, the momentum indicator also signaled up indicating an uptrend. Buyers are expected to continue with the trend and in this case, the price might possibly reach the $0.02000 resistance value soon in its medium-term perspective.
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