Lucky Block Market Expectation: LBLOCK Is Severely Oversold and Expecting an Imminent Rise

Updated:

Lucky Block Market Expectation – September 21

The Lucky Block market expectation is for an imminent rise after the price drops into an oversold region.

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

Key Levels:
Zones of Supply: $0.0008360, $0.0006820
Zones of Demand: $0.0001878, $0.0005350
Lucky Block Market Expectation: LBLOCK Is Severely Oversold and Expecting an Imminent RiseLucky Block is set for an imminent increase in price after the price drops deep into an oversold status. It is the market’s investors that allow the market to pull back to a significant support level. The plan is for the bulls to receive sufficient momentum to mount an assault back against the resistance zone from where they had dropped.

Lucky Block Price Forecast: LBLOCK/USD Outlook

On the 11th of September, the Lucky Block market, fresh from violating the $0.0006820 resistance level, made a lunge towards the next resistance at 0.0008360, but the price received a sharp rejection.

The rejection affected the market so much that the buyers delayed making another immediate attempt, having figured that they needed more momentum to bypass the resistance. Hence, the reason for the move is to pullback to $0.0005350.

For the bulls, at $0.0005350, the much-needed momentum is available. The RSI (Relative Strength Index) has plunged deeply into oversold, which shows that the price is poised for an imminent rally.

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

On the 1 hour chart, the candlesticks, the EMA period 9 (Exponential Moving Average), and the descending trendline have all converged to a point at the $0.0005350 demand level. This is an advantage to the buyers. A trigger is all that is needed to push the price above these price indicators and set it on a bullish path to break past the $0.0008360 resistance level.
Lucky Block Market Expectation: LBLOCK Is Severely Oversold and Expecting an Imminent RiseThe RSI line has been cranking in the bearish half of its chart as the price descended. The latest movement shows the line has bounced off the oversold border of the RSI chart. This means that movement in an upward direction has commenced and momentum will grow as the market keeps rising. $0.0008360 is the first point of call.

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.