Lucky Block Market Expectation: LBLOCK Is Poised for a Bullish Drive


Lucky Block Market Expectation: September 22

The Lucky Block market expectation is for the price to embark on a bullish drive from the current support level at $0.0005060.

LBLOCK/USD Long-Term Trend: Bullish (4-hours Chart)

Key Levels:
Zones of Supply: $0.0008360, $0.0006820
Zones of Demand: $0.0001878, $0.0005060
Lucky Block Market Expectation: LBLOCK Is Poised for a Bullish DriveLucky Block is poised for a bullish drive from its current demand zone at $0.0005060. The market has found some difficulty in bypassing the resistance level situated at $0.0008360, hence it has resorted to a retrace and surge technique. Because of this technique, the price pulls back to $0.0005060 for an upsurge. If this works out successfully, the market will be formulated into a double bottom pattern to give the buyers a firm foothold in the market.

Lucky Block Price Forecast: LBLOCK/USD Outlook

The $0.0008360 price level is very significant for the market. It can be seen how there were many fluctuations there from the 3rd to the 8th of September before the coin values finally dropped below it.

After the market recovers from the plunge, it easily bypasses the $0.0006820 price level, only for it to fall short at the $0.0008360 significant level. A sharp rejection sends the price spiralling back to $0.0005060.

LBLOCK is poised for a bullish drive back toward $0.0005060, albeit with a potential double-bottom bullish structure in the works. The Stochastic Oscillator shows an oversold market, hence we await an imminent rise.

LBLOCK/USD Medium-Term Trend: Bullish (1-hour chart)

The RSI (Relative Strength Index) line on the daily chart has been deeply plunged into the oversold region and is due for a rise. Likewise, on the 1-hour chart, though the RSI line has not plunged into the oversold region, it has been undulating in the bearish half since the 15th of September, when the price dropped below the $0.0006820 price level.
Lucky Block Market Expectation: LBLOCK Is Poised for a Bullish Drive
The Stochastic Oscillator lines can be seen undulating around the oversold region border also to show the current situation of the market. The price is set to embark on a bullish drive from its current position, making a double bottom formation to uphold and promote its further upward movement.

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.