Lucky Block Market Expectation: LBLOCK Is Recovering From a Bearish Dip

Updated:

Lucky Block Market Expectation – July 27

The Lucky Block market expectation is for the bulls to complete their recovery from a bearish blow that plunged the market below its uptrend line.


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

Key Levels:
Supply Zones: $0.0011780, $0.0011130, $0.0010510
Demand Zones: $0.0010050, $0.00097160, $0.00095460
Lucky Block Market Expectation: LBLOCK Is Recovering From a Bearish DipLBLOCK/USD is on the road to recovery from a sudden bearish dip. The price relied on the solid support at the $0.00097160 significant level to prevent it from falling lower. After several hours of sideways movement, the coin has started an uptrend. An achievement so far is the violation of the $0.0010050 price level.


Lucky Block Market Expectation: LBLOCK/USD Revives Bullishness

LBLOCK has been strongly bullish in recent times, sliding up a trendline. The bulls were even looking to increase the market’s momentum, to which a spike occurred on the 22nd of July.

The coin could not sustain its increase in momentum, and then it pulled back to lie on the trendline. This allowed the bears to suddenly slip in at a moment of weakness to plummet the price below the trendline.

Notwithstanding, bulls regained themselves at the $0.00097160 level to stop the dip. The price is now recovering upward and has traded above the EMA period 50 (Exponential Moving Average).


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

The 5-minute chart shows that the EMA period 50 has aligned itself below the 5-minute candles to act as support. This has helped the coin drive beyond the $0.0010050 significant level. DeFI Coin is aiming to push further beyond the $0.0010510 significant level.
The Lucky Block market expectation is for the bulls to complete their recovery from a bearish blow that plunged the market beloHowever, to break beyond the $0.0010510 significant level, the price will likely pull back to $0.0010050 to gain strength to push upward. The Stochastic Oscillator is overbought on the 30-min chart and the 5-minute chart. Therefore, a pullback is imminent, which will lead to a rally. The coin aims to reinstate itself back above the trendline.

You can purchase Lucky Block here. Buy LBLOCK

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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.