Lucky Block Price Forecast: LBLOCK/USD Ascends on Bullish Trend Line

Updated:

Lucky Block Price Forecast: May 4

The Lucky Block price forecast is bullish since the change in market direction was initiated at the opening date of the month. The demand zone at $0.0012810 was the takeoff point for the bulls.


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

Key Levels:
Supply Zones: $0.0018000, $0.0017220
Demand Zones: $0.0015740, $0.0012820
Lucky Block Price Forecast: LBLOCK/USD Ascends on Bullish Trend LineLBLOCK/USD started the month of May with a significant reversal. The previous week, before the month started, was down trending. On May the 1st, the market dipped into the oversold region. A bounce off the demand zone revealed the influx of buyers in the market.


Lucky Block Price Forecast: LBLOCK/USD Expectation

There was a further break in the structure to the upside after the bounce off the support level. The price action was very efficient in delivering to the upside. This was due to the continuous mitigation of pockets left as the market ascended.

LBlock formed a decent trend line as the market ascended towards the previous demand zone at $0.0015740. After reaching the demand zone, the bulls’ volatility changed.

To pass the previous key zone, the bulls expelled their conserved energy. This is seen with a large bullish candle to the upside.


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

The surge of the bulls from $0.0015740 passed the $0,0017220 supply zone easily. The higher resistance zone is at $0.001800. The market ranged sideways until the market dipped to fill up the inefficiency in the market.
Lucky Block Price Forecast: LBLOCK/USD Ascends on Bullish Trend LineThe bullish trend line is still holding. It is expected to support the price to rise above the resistance level at $0.001800. A descending parallel channel has met with the higher timeframe bullish trend line. This is expected to cause a change in market direction back to the upside.

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.