Lucky Block Market Prediction: A Bullish Reaction Is Expected After LBLOCK Slips Below $0.0001990

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Lucky Block Market Prediction: December 22

The Lucky Block market prediction is that the drop in price below the $0.0001990 level will most likely spark an aggressive reaction from the buyers, which may be the catalyst to break the $0.0002980 level.

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

Key Levels:
Zones of supply: $0002980, $0.0002460, $0.0002150
Zones of Demand: $0.0002040, $0.0001990, $0.0001880

Lucky Block Market Prediction: A Bullish Reaction Is Expected After LBLOCK Slips Below $0.0001990

LBLOCKUSD has been locked in a ranging movement since it was blocked at the $0.0002980 resistance level. Through this ranging period, the market has leveraged a strong demand level at $0.0001990, from where it plans to spring upward. However, the consistent testing of the demand level has caused a weak point to be exploited. An instant reaction is expected from the buyers to restore the market and probably push it to break the $0.0002980 level.

Lucky Block Market Prediction: LBLOCK/USD Anticipation

The increase in the market price was limited to the $0.0002980 supply level. Instead of the coin dropping back to $0.0001360, it formed new support at a formidable $0.0001990 level.

Thereafter, the market began to plot its route to break the resistance, leveraging the demand level. However, the consistent testing of the demand level has now led to a drop below the $0.0001990 support.

The MACD (Moving Average Convergence Divergence) has already posted bearish bars, even before the drop. Nevertheless, the MACD lines remain above zero. This shows that the buyers have an opportunity to regroup and reinforce the market.

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

In the buyers’ favor, the market has dropped to a familiar key level of $0.0001880. The last time the coin dropped to this level was on the 6th of December when the coin could only test the level with its long wick. This is because the price was quickly rejected at that level. A similar action is expected this time also.

Lucky Block Market Prediction: A Bullish Reaction Is Expected After LBLOCK Slips Below $0.0001990

Meanwhile, the MACD lines on the 4-hour chart keep fluctuating around the zero level. The lower Bollinger Band, which has been stretched as a result of the price drop, is expected to recoil, helping the bulls in their attempt to restore the market above $0.0001990. From there, the price can push through the $0.0002980 resistance level.

How To Buy Lucky Block

NoteLearn2.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.

 

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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.