Lucky Block Price Forecast: Lblock Breaks the Market Structure to the Upside


Lucky Block Price Forecast: May 16

The Lucky Block price forecast is for an obvious increase in price as the market sweeps previous highs to form higher highs in the market.

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

Key Levels:
Supply Zones: $0.001160, $0.001100
Demand Zones: $0.000920, $0.000800
Lucky Block Price Forecast: Lblock Breaks the Market Structure to the UpsideLBLOCK/USD dive in price ended as the market was already oversold. The Williams Percent Range (WPR) signified an oversold market on the 30-minute chart. The market rallied significantly in an attempt to violate the previous high.

Lucky Block Price Forecast: LBLOCK/USD Market Outlook

The initial surge from the support level at $0.000800 failed to reach the previous high formed during the early hours of the 12th. The market retraced to gather momentum, which was eventually used to form a change in market direction.

In between the major low formed on the 14th of May and the current daily high, the market formed intermediary higher highs and lows. There was a continuous break of structure towards the resistance zone in the market. The smaller higher highs and higher lows eventually formed the larger break in the market structure above the $0.001100 resistance level.

A new high was formed today after breaking the resistance at $0.001100 in the market. The Williams %R and the Stochastic were over-bought. The market rally paused at $0.001160 before the retracement was initiated.

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

The market is currently retracing back towards the ascending trend line. The last swing is still in premium, hence the market is still expected to dip to the support trend line to continue the bullish run.
Lucky Block Price Forecast: Lblock Breaks the Market Structure to the UpsideThe bulls are expected to utilize the supporting trend line to foster upward movements towards $0.001160.

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.