Lucky Block Market Prediction: LBLOCK/USD Bounces off $0.0001880 to Rally

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Lucky Block Market Prediction: December 21

The Lucky Block market prediction is for the buyers to start setting up a rally after the price bounces off the $0.0001880 support line.

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

Key Levels:
Zones of supply: $0002980, $0.0002460, $0.0002150
Zones of Demand: $0.0001990, $0.0001880, $0.0001360

Lucky Block Market Prediction: LBLOCK/USD Bounces off $0.0001880 to Rally

LBLOCK/USD remains in the process of lifting its price beyond the $0.0002980 resistance level. The market was leveraging the key support level at $0.0001990, but its inability to break through the resistance level quickly put a lot of pressure on it. As a result, the price falls below the support level to a lower level. The price immediately bounces off the lows as buyers attempt to start a rally.

Lucky Block Market Prediction: LBLOCK/USD Anticipation

The Lucky Block market has thus far been limited by the $0.0002980 resistance level. Therefore, the market is caught up in consolidation as it also stabilizes itself above $0.0001990.

However, there is more pressure on the support level than on the resistance level, hence the price can pierce beneath a lower support level at $0.0001880.

Buyers are not also discouraged; they have bounced the price off the new support level and will attempt to start a rally once the price recovers above the $0.0001990 support level.

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

Despite the drop in price to a lower support level, there has been little impact on the dynamics behind the scenes. The buyers and sellers have only come even, in terms of their hold on the market. The EFI (Elders Force Index) line on the daily and 4-hour charts shows this as it moves towards equilibrium.

Lucky Block Market Prediction: LBLOCK/USD Bounces off $0.0001880 to Rally

Meanwhile, for the buyers to spurn up a rally, they have to provide extra support for MA period 35. It has just about touched the candlesticks from beneath. Despite the short time frame, the MA period 35 is above the candles. This will be breached once the rally starts. The goal at the moment will be to breach 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.