Lucky Block Market Forecast: The $0.0001990 Resistance Will Fall

Lucky Block Market Forecast: February 6

The Lucky Block market forecast predicts that the price will rise against the $0.0001990 key level, to break it. LBLOCK has had several interruptions to its bullish structure. The latest one is the $0.0001990, which is a barrier to the rise of the market.

LBLOCK/USD Long-Term Trend: Bullish (1-Day Chart)

Key Levels:
Zones of supply: $0002980, $0.0002040, $0.0001880
Zones of Demand: $0.0001570, $0.0001360, $0.0001200

LBLOCK buyers have a track record of overcoming such interruptions to continue their agenda. The bulls will be looking to regain stability and return swiftly to their plan. The goal will be to first break the $0.0001990 barrier and then continue on its path to $0.0002980.

Lucky Block Market Prediction: LBLOCK/USD Anticipation

The Lucky Block market has been structured in such a manner that it will bounce off its rising trendline and rise to test the $0.0002980 resistance till it breaks to the upside. However, there have been interruptions to this flow.

The first interruption was the coin slipping below the trendline on the 27th of January. The market did recover above the $0.0001420 support level. The second interruption now is that the price has been blocked from rising above $0.0001990.

The new target now is the violation of the $0.0001990 level. The market will be looking for an immediate recovery after the first rejection. The Moving Average period 14 line could provide that recovery point.

LBLOCK/USD Medium-Term Trend: Bullish (4-hour chart)

The Momentum indicator has dropped greatly on the 4-hour chart as the price gets rejected. However, on the daily chart, it remains high. Although there is a little drop at the tip of the Momentum line, The buyers need to react quickly to maintain the same momentum and rise back against the $0.0001990 resistance level.

The 4-hour candlesticks have dropped below the MA period 14. The price is now approaching a strong confluence point where the rising trendline crosses the $0.0001570 key level. The Lucky Block market may likely regain strength before it drops back to the confluence point. The target is to break the $0.0001990 resistance and rise higher.

How To Buy Lucky Block

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.