Lucky Block Market Forecast: LBLOCK/USD Struggles to Re-Attain Its All-Time-High

Lucky Block Market Forecast – February 8

The Lucky Block market forecast is for a short-term market ranging phase, after which the market will accumulate strength to break upward.

LBLOCK/USD Long-term Trend: Ranging (30-Minute Chart)

Key Levels:
Supply Zones: $0.00264600, $0.00242800
Demand Zones: $0.00220000, $0.00197000
LBLOCK/USD now finds itself in a tussle for dominance between the bulls and the bears. This comes after a price surge that helps the market break its previous highest level at $0.00220000. The price rises to set a new high at $0.002646. After this, the bulls weakened, allowing the bears space in the market. The tussle for dominance is now ongoing between the market forces, which is leading to its latest ranging phase in the market.

Lucky Block Price Prediction: What to Expect From LBLOCK/USD?

The coin continues its rise by breaking out of a previous consolidation below $0.00146000. The price then violated multiple key levels to attain its previous highest level. A little difficulty wasn’t enough to deter the market, which broke through.

More strength was displayed after the break of the previous highest level, with a 22% upsurge to reach $0.00264600. The bulls began to tire at this point, allowing bears some entry into the market. What has followed since then is a tussle for market dominance.

LBLOCK is now ranging between the former all-time high level as support and the $0.00224800 level as resistance. Bears have dragged the market towards the lower border of the Envelope indicator. The Stochastic shows this also, as its line dips into oversold. Bulls will rely on $0.00220000 as a strong support to stay afloat and break the consolidation towards $0.00264600.

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

The market maintains a sideways movement on the 5-minute chart, with the candles alternating between staying under the resistance and above the support. In all, the price remains below the middle line of the Envelope indicator, showing the bears are slightly edging the market.
The Stochastic Oscillator shows that LBLOCK has remained in and around the oversold region. The market is accumulating strength with this, and we should expect a strong price rebound that will break free of the consolidation towards the new all-time high at $0.00264600.

How To Buy Lucky Block

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