Lucky Block Price Forecast: Lblock Is Set to Break Out From Falling Wedge

Updated:

Lucky Block Price Forecast – May 9

The Lucky Block price forecast is expected to turn bullish as the market is already oversold. A falling wedge has formed from the tip of 0.001790 to the current price.

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

Key Levels:
Supply Zones: $0.001790, $0.001660, 0.001370
Demand Zones: $0.001730, $0.001540, 0.001250
Lucky Block Price Forecast: Lblock Is Set to Break Out From Falling WedgeLBLOCK/USD rallied to reach 0.001790 on the 2nd of May. The market consolidated for a few hours after which there was an obvious and rapid drop in price. The very large bearish candle that formed on the 3rd of May was a clear footprint that the bears were selling.

Lucky Block Price Prediction: LBLOCK/USD Market Reversal Anticipation

The change of direction from bullish was confirmed after the resistance zone at 0.001660 strengthened the bears to push through the support level at 0.001545. At that point, the bullish trend line failed to hold.

LBlock volatility was very low as the market was almost inactive. The size of the candles was very tiny as the market dipped to $0.001250. The bearish order block aided the bulls to push through the support level at $0.001250.

Since May the 5th, the Relative Strength Index has signified bearishness in the market.


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

LBlock is currently oversold on the Stochastic Indicator. The Relative Strength Index is also crossing into the oversold region below 20. A structural market shift from bearish to bullish is currently anticipated to clear the lower highs at $0.001250.
Lucky Block Price Forecast: Lblock Is Set to Break Out From Falling WedgeThe agreement of the Stochastic indicator as well as the Relative Strength Index is expected to bring about a reversal. A breakout from the falling wedge is therefore anticipated. The market is expected to reach the previous level at $0.001250.

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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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.