Lucky Block Market Expectation: LBLOCK Remains Primed for a Rally

Lucky Block Market Expectation – September 29

The Lucky Block market expectation is for the price to burst upward after a short while of consolidation.

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

Key Levels:
Zones of supply: $0.0008360, $0.0006820
Zones of Demand: $0.0001878, $0.0005060
After failing short of immediately breaking the $0.0008360 resistance, Lucky Block price resorted to being supported by a strong demand level. By the time the coin gets to a suitable demand level, it will have dropped too far from where it is coming from and the market needs to be strengthened again. Therefore, LBLOCK can be seen ranging between $0.0004200 as support and $0.0005000 as supply before it rallies.

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The initial plan of the coin was to slide down along a trendline, and then spring off immediately from a solid key level. But since there was no key level strong enough to push the price upward, it dropped to $0.0004200.

The $0.0004200 key level is a significant one in the market and it helped to halt the plunge in the price. However, the buyers are having to regroup again at this level to power the market, hence the consolidation in the price.

All the while during the drop, the market had been under the middle line of the Envelope Indicator, but as the coin found footing on the $0.0004200 key level, that trend was disrupted.

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

The ranging activity of the market within the consolidation channel is very evident on the 1-hour chart. The candlesticks can be seen undulating around the Envelope middle line. LBLOCK has just dropped back to the demand line after testing the resistance level.
The MACD indicator (Moving Average Convergence Divergence), which hitherto was rising from a depth below the zero level on the 4-hour chart, has climbed above it and is now undulating around the equilibrium level. This shows the consolidation state of the market. Nevertheless, this is in view of a rally and the coin is primed to rise back to $0.0008360.

How To Buy Lucky Block

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