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Lucky Block Market Prediction: August 16
The Lucky Block market prediction is to complete the drill into a triangle formation, which will result in a breakout to the upside.
LBLOCK/USD Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Supply Zones: $0.0001990, $0.0001420, $0.0001100
Demand Zones: $0.0000880, $0.0000720, $0.0000650
LBLOCK is employing a fresh strategy for a price breakout. Instead of attempting to overcome resistance directly, the market is adopting a right-sided triangle formation, which holds the potential for a bullish breakout. The sturdy $0.0000880 demand level serves as the foundation for this anticipated breakout.
Lucky Block Market Prediction: LBLOCK/USD Anticipation
LBLOCKUSD is adopting a new approach for a price breakout by forming a right-sided triangle pattern.
After encountering difficulties surpassing resistance levels, the market’s current strategy involves drilling down into this formation, which holds the potential for a bullish breakout.
The solid $0.0000880 demand level is the foundation for this anticipated breakout. Due to decreased market volatility, the Envelope indicator has encompassed the candle range on the daily chart.
Market Expectations
The Envelope indicator has enclosed the whole range of candles on the daily chart due to low volatility. The drill down into the triangle formation has caused the EFI (Elders Force Index) on the daily chart to slip below the zero level as the coin awaits a breakout to the upside.
On the 4-hour chart, the EFI remains fluctuating around the zero level as the market generally awaits the breakout. The market has tapered to the tip of the triangle and the price surge is very close. This should drive the coin as high as $0.0001420.
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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