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Lucky Block Market Prediction: June 2
The Lucky Block market prediction is now consolidating between two key levels, $0.0001420 and $0.0001100, ahead of a bullish rally.
LBLOCK/USD Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Supply Zones: $0.0002980, $0.0001990, $0.0001690
Demand Zones: $0.0001420, $0.0001250, $0.0000880
LBLOCKUSD intends to push its limits beyond the $0.0001990 resistance level. Several attempts to breach the resistance level have yielded no result. The market is now entering consolidation between key levels. This will likely help the buyers strengthen themselves as they anticipate a rally which will break the resistance.
Lucky Block Market Prediction: LBLOCK/USD Anticipation
LBLOCKUSD was corrected back below the $0.0001990 resistance after an initial surge. From there, all efforts to rise above the resistance didn’t yield results. The price then dropped to a lower level, allowing more buyers to hop in.
From the lower level at $0.0000880, there have been occasional spikes towards the resistance level. This has not made much difference either. At the moment, the market is entering accumulation.
The price accumulation is between 0.0001420 as the resistance level and $0.0001100 as the support level. Since the drop to $0.0000880, the RSI (Relative Strength Index) line has been trading below the midline.
Market Expectations
The market volatility is decreasing as the price settles for consolidation currently. This is evident from the ATR (Average True Range) indicator on the daily chart, which has also decreased significantly on the 4-hour chart. However, it is anticipated that once the market breaks out from consolidation, there will be a resurgence of price volatility.
As the market begins to range, the price has dropped back to the support level. This led the RSI line to fall back to the oversold border of the market. The undulation is expected to continue until the bulls gain strength to break out of the consolidation zone towards the resistance again.
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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