Lucky Block Price Forecast: LBLOCK/USD Bears Temporarily Curtail the Market

Updated:

Lucky Block Price Forecast – February 11

The Lucky Block price forecast is for the market to resume its upward trend after a brief period of consolidation.


LBLOCK/USD Long-term Trend: Ranging (30-Minute Chart)

Key Levels:
Supply Zones: $0.00746260, $0.00614690
Demand Zones: $0.00522780, $0.00457484
Lucky Block Price Forecast: LBLOCK/USD Bears Curtail the Market TemporarilyAs predicted in the previous forecast, Lucky Block has opened its stride to rise enormously. After stretching itself in an uptrend for several hours over the past three days, the price has lost some momentum, allowing the bears to step in to curtail the market. Market buyers will fancy repeating the same trick that has worked repeatedly, accumulating momentum in consolidation and then unleashing it on the market.


Lucky Block Price Forecast: Market Prospects

LBLOCK/USD seems to have entered another phase in its price movement activities. The first market phase is characterized by quiet and decisive price action. This can be seen with short candlesticks and less radical movements. Lucky Block exited this phase with the break of the $0.00264600 price level.

The second phase kicked into gear as the price broke the $0.00264600 significant level. This phase is characterized by more volatile movements as both bears and bulls tug at the market, with the general dominance going to the bulls.

The Average True Range indicator shows that market volatility has risen exponentially with increasing days. The EMA period 50 (Exponential Moving Average) has remained as support for the market during both market phases, which favours the buyers.


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

On the 5-minute chart, the bears are trying to curtail the market. This started below the $0.00522780significant level, but the bulls pushed through. On getting to the solid resistance zone of $0.00746260, the coin suffered rejection in a volatile movement that dipped it below the EMA period 50 and back below $0.00522780.
Lucky Block Price Forecast: LBLOCK/USD Bears Curtail the Market TemporarilyThe price has done well to recover back above the $0.00522780 level and has got the EMA period 50 as support again. The market is trying to negotiate the $0.00614690 price level on its way back to $0.00746260.

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.