Lucky Block Market Prospect: LBLOCK/USD Pulls Back to a Strong Demand Level

Updated:

Lucky Block Market Prospect – February 21

The Lucky Block market prospect is for a strong rebound of the coin after the price drops to a strong demand level at $0.00522780.


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

Key Levels:
Supply Zones: $0.00973954, $ 0.00746260
Demand Zones: $0.00522780, $0.00393250
LBLOCK Market Forecast: Lucky Block Pulls Back to a Strong Demand Level The past few days have seen LBLOCK/USD increasingly come under the influence of the sellers after the price became too weak to violate the $0.00973950 supply level. A double downward spike has contributed to seeing the market slide below the first demand level at $0.00746260, and the coin has now dropped to a more robust demand level at $0.00522780, where there is already a market reversal taking place.


Lucky Block Price Prediction: What to Expect From LBLOCK/USD?

A steady rise in the market has been halted as the Lucky Block bulls take a breather. During the market’s ascension, it broke many significant levels, including solid price levels such as $0.00522780 and $0.00746260, which turned into support levels for the market after then.

However, bulls are now taking a breather after failing to breach the all-time high in successive tests. Hence, sellers have caused a pullback which has dropped the price below the first demand line at $0.00746260. The retracement comes to a halt at the second demand level.

Immediately upon reaching $0.00522780, the demand level repelled the market upward. Lblock is now trying to breach the $0.00746260 line again. The MA period 50 is upholding the price despite its current dropping level.


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

The 5-minute chart shows that Lblock failed to hold above the $0.00746260 price level and slumped below it. It also broke through the MA period 50 on the 5-minute chart.
LBLOCK Market Forecast: Lucky Block Pulls Back to a Strong Demand Level However, the Fibonacci Ratio shows the price finely aligning with the 0.5 level, which happens to be the crest level for previous movements in the market. Lucky Block is likely to reverse at this point as it aims to break through from $0.00746260 to reach $0.00973950.

How To Buy Lucky Block

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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.