Lucky Block Market Anticipation: LBLOCK/USD Continues in Consolidation

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Lucky Block Market Anticipation – February 14

The Lucky Block market anticipation is for the bulls to drive the market out of consolidation and upward.


LBLOCK/USD Long-Term Trend: Ranging (30-Minute Chart)

Key Levels:
Supply Zones: $0.00522780, $0.00746260
Demand Zones: $0.00393250, $0.00457480
Lucky Block Market Anticipation: LBLOCK/USD Continues in ConsolidationLBLOCK continues in consolidation as the bears and bulls cancel out each other. The bears have exploited a seeming pullback to pin down the market. Despite being exhausted, the bulls can still uphold the market and have prevented a further drop below the $0.00393250 significant level. Despite the support, the price has been limited from ascending above the $0.00522780 price level.


Lucky Block Market Anticipation: What to Expect From LBLOCK/USD?

Market bulls have stretched and exhausted themselves as they broke different barriers to reach the $0.00746260 critical level. Some significant key levels were breached during the price surge, including $0.00393250 and $0.00522780.

The $0.00393250 level acted as a first-time resistance, in which the price had to pull back to break through it. The market found a stronger resistance at $0.00522780, whereby the coin was confined to a short-term consolidation before eventually violating it.

When the bulls weakened at $0.00746260, a retracement ensued, bears pressed the market lower, and the coin eventually dropped between the two critical levels of $0.00393250 and $0.00522780. The Average True Range (ATR) indicator shows that a drop in volatility accompanies the confinement of the coin in consolidation.


LBLOCK/USD Medium-Term Trend: Bullish (5-minute chart)

On the 5-minute chart, the market is still in consolidation but has risen above the $0.00457480 price level, which appears as a mid-level between the consolidation’s resistance and support. This is a bullish indicator for the market.
Lucky Block Market Anticipation: LBLOCK/USD Continues in ConsolidationAccordingly, the RSI (Relative Strength Index) has also risen above the mid-level, reaching 58. Though this upward movement is still part of the consolidation, we expect the bulls to eventually hijack one of the upward movements to break out of the consolidation and drive towards $0.00746260.

How To Buy Lucky Block

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.