Lucky Block Market Expectation – LBLOCK Rises to a Higher Low

Lucky Block Market Expectation – July 28

The Lucky Block market expectation is for the price to remain persistent in its endeavour to recover from the bearish bout it encountered on the 25th of July. The market has risen to a higher low.

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
Despite the fact that  LBLOCK is still on a general uptrend movement, it is striving to return to its former gear level above its rising trendline. The market suffered a blow when the bears stepped on it at a moment of weakness. Currently, the price has risen to test the trendline, but it could not climb above it and has dropped, still making a higher high and higher low.

Lucky Block Market Expectation: LBLOCK/USD Revives Bullishness

The $0.00097160 is the support level that keeps the market from dropping lower after the plundering process by the sellers. A little bit of time was spent before the coin started rising to regain lost price levels.

However, as time passes, the trendline level keeps increasing, leaving the market in a catching-up game. The first attempt to reclimb above the trendline was unsuccessful but helped the price climb higher.

The drop of the price back to $0.0010050 has also led to the drop of the Relative Strength Index (RSI) to the border of the oversold region. As a result, the MA cross (Moving Average)has also crossed downward.

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

The 5-minute chart reveals that the candles tested the underside of the trendline before bending downward after not being able to get above it. Also the $0.0010510 support zone could not hold the price up, and it slipped below till it stabilized on the $0.0010050 support level. LBLOCK/USD bulls are expected to regroup from here for another upward move.
The events in the market has seen the Moving Average Cross on a downtrend. Meanwhile, the line of the Relative Strength Index indicator has slid downward to just above the oversold territory. But this also means an uptrend from the oversold region may be imminent. When this happens, the market will rise again towards the trendline.

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