Lucky Block Price Forecast: LBLOCK/USD Is Poised to Break Out From Descending Triangle

Updated:

Lucky Block Price Forecast – April 27

The Lucky Block price forecast from the price action is likely to create an impulsive breakout from the descending triangle towards $0.00181700

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

Key Levels:
Supply Zones: $0.001986350, $0.00193400
Demand Zones: $0.0018170, $0.0016770
Lucky Block Price Forecast: LBLOCK/USD Is Poised to Break Out From Descending TriangleLBLOCK/USD is currently at a dip discount in the market. The market has dived below equilibrium in both the higher and lower time frames. The initial bullish channel did not hold for long before there was a bearish breakout. A narrow parallel channel has led the market safely to the demand zone at 0.0016770. The bearish move towards the zone was very lethargic.


Lucky Block Price Forecast: LBLOCK/USD Expectation

The small size of the candles which formed from the major zone at $0.0018170 shows the exhaustion of the bears as they dipped to the demand zone at $0.0016770. Internal highs formed as the price sank from $0.0018170. The bulls did the exact opposite by soaring very rapidly from the demand zone. As the price rose to a premium, all previous internal highs were swept away.

The footprints of the bulls have been revealed clearly with the large impulsive candle. A large gap was left behind due to the speed at which the bulls regained control at the $0.0016770 demand zone. The market is currently in a phase of retracement to cover up the gap.

The market has tapped into the order block it left behind before the price rise. A swing low is currently forming to give the bulls further confirmation to go long.


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

The market has tapped into the support line of the descending triangle. The market is currently ranging around the 78.6% Fibonacci level. A change of character is anticipated to set the bulls on course towards $0.0018170.
Lucky Block Price Forecast: LBLOCK/USD Is Poised to Break Out From Descending Triangle The Bollinger Bands have created support for the price on the lower timeframe. The Bollinger is currently resting on the support line of the descending triangle. A bullish breakout is anticipated to push the bulls to new highs.

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.