Lucky Block Market Prediction: LBLOCK Approaches an Anchor Zone for a Rebound

Updated:

Lucky Block Market Prediction – March 4

The Lucky Block market prediction is for the price to make a sharp rebound at the $0.00454740 anchor support level if it doesn’t break out of its descending channel.


LBLOCK/USD Long-Term Trend: Bullish (30-Minute Chart)

Key Levels:
Supply Zones: $0.00639520, $0.00577200
Demand Zones: $0.00540850, $0.00454740

Lblock 30 3

A descending channel encircled the Lucky Block market as price attempts resuming its bullish trajectory. The parallel channel has conducted the market from the $0.00639520 resistance level downward past multiple key levels and is approaching the strong anchor support level at $0.00454740. The price is predicted to breakout upward on or before reaching the anchor level as bulls grow stronger.


Lucky Block Market Prediction: LBLOCK/USD Market Prospects

The market’s attempt to immediately rebound off the critical level at $0.00540850 on February 28 met the impenetrable supply level at $0.00639520. Since then, the price has been sliding down a parallel channel.

The downward momentum ensured that the daily candlesticks undulated in the channel’s lower half. Bulls demonstrated power yesterday by driving the market up to the channel’s upper border via the $0.00540850 critical level.

A failure to break the channel upward and hold above $0.00540850 led to a drop back to the lower half. However, this is an encouraging indication that bulls remain in the market and are positioned strategically at crucial levels to thwart the bears and restart an uptrend.


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

The 5-minute chart gives a closer view of what’s going on in the market. Lucky Block is seen to be bordering the lower edge of the channel. The latest move shows the price has bounced off the edge and is rising towards the middle line of the descending channel. The EFI (Elders Force Index) indicator, like on the 30-minute chart, remains in the bias of bears, but it is closer to equilibrium in this shorter time frame.

Lucky Block Market Prediction: LBLOCK Approaches an Anchor Zone for a Rebound

The Stochastic Oscillator also suggests that the market is rising as its lines are crossed upward from a profoundly oversold region. The bulls can be backed to launch another assault to break out of the descending channel to resume their upward trajectory. However, if the price does not break out soon enough, it will be pushed to the anchor level of $0.00454740, which is a good and cheap price level to go long.

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.

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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.